A few weeks ago in March I toured a house in Mesa, AZ (Near Phoenix) which was being rehabbed and flipped by Ivy Coppo, a realtor with Trilogy Investments and Real Estate. Ivy is an expert in managing flips for investors who purchase properties at the Maricopa County (Phoenix, Arizona area) trustee sale auction.
This 3 bedroom / 2 bath house in Mesa is for Ivy’s own portfolio. Check out the 3-part video series below for the before vs. after tours of Ivy’s flip and my interview with her where she reveals her numbers and tips for successful flips.
Ivy’s Flip in Mesa, AZ – Part 1 (Before)
I arrived a couple of days after Ivy won the bid on this house at the trustee sale auction – the crew had already been hard at work.
Ivy’s Flip in Mesa, AZ – Part 2 (After)
I toured the house with Ivy after the rehab work was completed, just a short week later.
Ivy’s Flip in Mesa, AZ – Part 3 (Interview)
Ivy answered my questions about flipping houses:
- How many properties she flipped in 2009
- What kind of properties were flipped, price ranges, locations
- Her typical timeline for a flip
- What percentage of REO / short sale properties vs. flipper resales are on the market?
- What kind of buyers are there for these flipped properties?
- Her best vs. worst cases for a flip
- How she increases the chance of a successful closing
- What’s the typical return for her flip?
- What about the risks? e.g. tenants/owner occupied properties, hard money loan costs, due diligence
- Her advice to newbies
Please leave a comment and let us know how you liked this post and what you would like to see in future posts.
If you liked these videos, you might also be interested in:
Interview with John Ray, largest buyer of homes at the Phoenix trustee sale auction.
Phoenix Foreclosure – Video of Live Auction at Trustee Sale
CSPAN Interview: Janet Tavakoli on the Financial Crisis
Warren Buffett Says, Stop Coddling the Super Rich!
Mort Zuckerman Discusses the Economic Recovery Roadmap
Sam Zell Speaks at Milken Conference about Commercial Real Estate
Buying Real Estate for Cash Flow: Summary
Invest Like Jesse Livermore, Technical Trend Trader
Invest Like Philip Fisher, Father of Growth Stock Investing
Invest Like William O’Neil, Inventor of CAN SLIM
@Holly
I have the same question. There were no walls being moved or extensive plumbing and electrical work involved that I saw.
Just cleaning, landscaping, painting, and a few new fixtures.
Why would permits be required for an owner to put in new carpet, simple landscaping and paint? When I do this around my house I don’t get permits either. Construction is another matter, particularly in an HOA community -
@Gary
The work appeared to me to be cosmetic work such as paint, carpet, and landscaping. What permits would be required?
Correct me if I am wrong. I saw no permits displayed on this property for the work to be done legally.