[Dantilla]

A) In real estate, you make money when you buy- Not when you sell.

You have to buy homes under market value, because it is not possible to sell over market value. If the buyer gets a mortgage, the lender will pull the plug if the appraisal doesn't meet the proper criteria.

When the right one pops up, jump on it quick! When I was flipping fixers, my realtor's rule:
"If it's been on the market for more than one day, it's not a good enough deal".
A true bargain will be sold by tomorrow.

B) I only bought lower-end homes, because the pool of potential buyers diminishes greatly as prices climb. Gotta have great curb appeal, and be in a decent neighborhood. Tough combination to find, but those are the profitable ones. If it's an ugly house, but it is too cheap to let go, the only way it will sell is because it is cheap. No thanks. I want potential buyers to fall in love with the cute house as they pull up. Then purchase price becomes secondary in their mind. It becomes "Look at this great home that's within our price range", instead of "How low should our offer be?". Don't forget the landscaping.

C) Every house had to be top quality to sell. I sleep very well at night knowing I didn't cut corners on structural/safety items. All kitchen and bath wiring was up to current code. Not interested in houses needing structural work. If the roof is sagging, walk away. I want my time, energy and money put into things that the buyer will see, as that will allow a quick flip.
I want a solid structure that needs "lipstick and nail polish".

D) The value of a great realtor: Whenever I thought the house was ready to sell, my realtor would walk through, and usually refuse to list it until her punch list of minor items she saw was taken care of. Sometimes frustrating, but she was always right. Nice to have an extra set of eyes on my work. When listing, she always started near the top of what she thought would be fair market value, and if no offers came in within a week, drop the price by a few thousand. The house usually sold at the first price drop. She had the market nailed.

When buying, she also talked my out of more houses that she talked me into. This is highly valuable! I remember being ready to sign the dotted line, and she telling me "We can do better".

If you find a realtor like this, grab them, and keep them happy! We both made money. She found bargain houses, and she knows I will list it with her after I'm done with my hammer and paint brush. Sales commission coming and going for her.