Ever wondered what actually goes on behind the scenes at a local home buying company? 🏡🛠️ In this full daily vlog, follow the Cross Properties Inc. team around the Roanoke Valley as we drop off dump trailers, coordinate major material orders, check out fresh real estate leads with Dad, and sit down to walk a homeowner through our transparent math before making a guaranteed cash offer. If you need to sell your house fast in Roanoke VA or Salem, VA, we buy houses completely as-is so you can bypass the stress of cleaning, making costly repairs, and paying agent commissions. Watch the video below to see a true day in the life of a local house flipper!
See the full video timeline/transcription below!
Daily Goals and Project Overview
0:00
Agenda: Cash Offers and Site Visits
I am taking you guys along with me today. I’m going to try to film everything and still stay productive. The day is going to end with me making a cash offer to a homeowner. And I’m going to try to record that conversation with still protecting the privacy of the home seller. Hopefully, I get it. But you guys will get to see whether I do or not. The other main things that we’re going to be doing today, I got to get a dumpster and some materials over to a home that we’re making a big push on to finish this week. We’ve got to order tens of thousands of dollars worth of material for a home that we’re starting on this week. We’re purchasing it, I think, either tomorrow or the next day. And then the third thing is we did get a new lead come in over the weekend that I think is pretty hot one. So, we might be able to go see a potential home, but of course that will be separate from the home I’m making an offer on. I actually saw that one last week. So, stick with me.
0:47
Trailer Hookup and Paint Selection
Perfectly hooked up on the first try. Not really the first try. What? Dad’s coming along on this trailer drop off excursion. Got to move some cars real quick. Progresso paint. I think we’re going to do gray and white. All right. All locked down. On to the next.
Business Operations and Logistics
1:18
New Leads via AI Technology
Someone just called into the office. It sounds like dad’s working a new leak. So, let’s go check this out real fast. All right, Dad. How’d that lead come about? Is it a good one? What’s the deal? It’s a good lead. Came in through AI and it’s a family home. A lady wanted to sell her house and we’re going to go ahead and take a look at it and when when we uh go take a look, we’ll make her an offer. So, that lead coming in from AI is something that’s been producing a couple leads here and there and I think we’re going to see a large shift in people searching on search engines and going to some of those AI sites. So thankfully, as of right now, we’re kind of up there in those, which is pretty cool. All right, time to take a break for lunch. What we got going on here? Strong boly. Little bit of stromboli. Perks of working for a family business. Dad’s eating his boly with pizza sauce. I’m eating mine with horseradish. Let us know in the comments who’s doing it better.
2:07
The Rising Cost of Materials
Doing the big materials order. I’ll show you the total here in a second, but you just forget how expensive stuff is. For instance, we’re just putting a new storm door and a new front door on this house. Well, we’re doing a lot more than that, but in this example, the new door is $394. It retails at $498, but I got a 20% discount. A storm door is $339. It’s we’re getting it for 305. So, you’re talking about what? $700 just for a front door unit, not even including the deadbolt in the handles and not even including the labor. Moral of the story is nothing’s cheap anymore.
2:41
Breakdown of a $6,600 Renovation Order
And along those lines, this order for a 5-bedroom, two bath house totals 8,596. Got the discount, so I got to pay $66.90. That’s before tax. It’s 74 total items. So, yes, I went in there and manually put in 74 items specific to this home for the sake of being efficient. One, we get the discount, and two, we’ll get it all delivered on the same day so it’ll be ready to rock and roll. That 6,600 bucks doesn’t include the cost of the floors, the cost of any roofing material, the cost of windows, the cost of any carpet. I mean, there’s tons of things that need to be purchased still. This is mainly just all the kind of cosmetic type stuff. It doesn’t even include the cabinets. This is more doors, vanities, toilets, stuff like that. You know, knobs, hinges, outlets, switch plates, stuff like that. So, you know, the cost is now. We’re going to have the majority of this stuff delivered. So, follow along because when it is delivered, I’ll try to make a video of that as well, and you’ll see what $6,600 gets you. Now, of course, the majority of that is appliances. I should have mentioned that. But the rest of the stuff is expensive as well, just like the door. But you got to pay to play in this company or this business.
The Cash Offer Process
3:44
Live Negotiation Call
Hey, this is Jack. How are you doing? Good. Good. Well, I got that number for you. Okay, I’ll just go ahead and let you know exactly how we got it. So, you know how we make our offer. We essentially come up with what we think the home would be worth after we’ve totally renovated. Then, we just deduct the cost of those renovations. And then we deduct how much we have to make and what’s left over is our cash offer. All right. So, I’ll start at the top. Well, I think the home will be worth $280,000 after we fix it up. Is that something that you think is reasonable? me out. I really look forward to hearing what they have to say as well. And after you talk to them, be sure to give me a shout back. But hopefully we can do business together. Looking forward to it. All right. All right. I’ll talk to you soon. Thanks. That conversation was pretty positive. I’m hoping that after they get with their siblings that we’ll be able to put the thing under contract. If it was up to the person I was talking to, they certainly would be willing to move forward with us.
4:55
The Math Behind a Cash Offer
Now, if you didn’t understand what I said at the beginning, how we make the offer is this. We go look at the home, okay? We come back. We decide what renovations we would do to the home. We establish how much the home would sell for after we’ve done the renovations. Then we deduct how much it would cost to do the renovations. We deduct how much we want to make because we do want to make money at this place. And then what’s left over, the number down at the bottom, is what we offer for cash. Let me know in the comments if you think that’s a fair way of doing business. I think it is. We’ve had a lot of success with it and people really appreciate knowing exactly what we’re going to do with it. Now, I know this been a long video. I didn’t even get over to the home that we’re going to see that we heard about over the weekend cuz that would just make this video entirely too long. But if you’ve watched so far, please hit the like button. Comment if you like this style video or if you’d like them shorter. Anyway, appreciate y’all and as always, we’re still buying houses