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AM: Upon deciding that they want to enter the world of flipping what are some "rules of the business" that they should keep in mind when they are selecting a property? ST: You always need to evaluate your comps. You always need to make sure you are looking at what is on the market, how long it’s been on the market, what are the finishes that they have in there, and understanding the area in which you’re going to develop in so you can always keep that on the forefront as the guidelines for value. What I call value engineering, engineering your development, your flip, to sit within the comp set that has been proven to work. It’s so important even if it’s your first time home purchase to make sure that you get all your pricing for your subcontractors and you know exactly what your budgets are so you’re not in a position when it’s all said and done that you’re over invested. AM: How are the rules of flipping in

terms of design and finishes different then what you would do for your own personal or vacation home? ST: It all depends on the area you’re in, it all depends on what those comp sets show, and making sure that you understand that. The same principles apply wherever you go it’s just the content changes – the information changes. So the same processes and procedures that I would do in New Orleans or New York or Miami are the same it’s just making sure that you get the correct information from the MLS, from the online sites, from a real estate agent to make sure that you're staying in the guidelines of what actually sells and how much per square foot it sells for. So those are the things that I always tell new home buyers or new flippers. As far as design and finishes if you’re flipping there are certain things you won’t do because you’re not personalizing it. You want to figure out what does the market research show as far

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Athleisure Mag Jun 2018