Orson Hill Realty Puts Fix and Flip Properties on the Back Burner During Pandemic Lockdowns
Evergreen, CO, March 19, 2022 — Orson Hill Realty, a reputable real estate company in the Denver Foothills, had been in the process of establishing a fix and flip property division prior to the pandemic lockdowns. However, due to the uncertainty of the times, the lack of home inventory, and the difficulty in finding decent homes for sale, the company made the decision to temporarily put their fix and flip plans on hold until buyers regained some control in the market.
According to the CEO, Danny Skelly, the decision was made in consideration of the overall market conditions and the need to ensure that the company’s investment in fix and flip properties would yield a good return on investment (ROI). Skelly emphasized the importance of acquiring properties at the right price in order to maximize profits on the resale side of the business. He also acknowledged the abundance of beautiful properties in the Denver Foothills, many of which are in need of some tender loving care (TLC) due to their current state of disrepair.
Skelly further emphasized the benefit of Orson Hill Realty serving as both the real estate company and the fix and flipper, as it ensures a higher level of honesty and integrity in the transactions with home sellers and buyers. As a real estate company, Orson Hill Realty is bound by industry regulations and ethical standards, which means that they are required to conduct business in a manner that prioritizes the best interests of their clients. Skelly highlighted the importance of doing things the “right way” in the real estate business, as the repercussions of one bad deal could have severe consequences for the company.
Looking ahead, Orson Hill Realty has projected their plans for the fix and flip property division, with a goal of purchasing, rehabilitating, and selling four properties in the first year of operation. The company aims to keep the volume manageable in the initial stages of the division’s launch, with intentions to expand and potentially double the number of properties dealt with in the following year.
Overall, Orson Hill Realty’s strategic decision to adapt to the market conditions and prioritize ethical business practices reflects their commitment to long-term success and sustainable growth within the fix and flip property sector. Despite the initial challenges posed by the pandemic, the company remains optimistic about the future prospects of their fix and flip division, with a focus on delivering value to both buyers and sellers in the Denver Foothills real estate market.
Source link
