Thursday night I closed the door on flip 3 for the last time. Cleaned, inspected, documented, approved, there wasn’t really anything left to do before the official close the following day. No time for nostalgia. The Realtors and the new Owner wanted me gone, so I finished my celebratory glass of wine in its plastic cup, picked up my bag and left – just 8 months and 20 days after I bought it.
This was the fastest of the three flips, and the one for which I will net the least profit, but the timing was right for the sale. I felt it in my gut. I priced it high and nearly fainted when I learned that I was offered $76,000. over ask. Sometimes the universe looks out for you. I’ll suffer the consequences of the quick turnaround in the form of capital gains. Why they call it that I’ll never know. It’s a capital loss to me, and I am the one that will feel it most distinctly.
Still, to recap, I bought a chandelier in Paris, had it shipped, rewired, retrofitted the ceiling to support the crazy weight of the thing, and lit the place up like a Hollywood set. I then painted it, and staged it. That’s the long and the short of the effort. So why did it go for so much more than I bought it for just last winter? I have my theories; location, limited supply, location, unmatched architectural detail, and did I say location?
I’d like to think that the design and color palette had something to do with it too, but one can never really know. This I do know, people hate losing, and if you’ve been outbid a time or two before, you become particularly disdainful of those that are winning. Good and ready to make sure it doesn’t happen again.
The new Owner and I both get to be winners in this game. I am so happy that he got this lovely condo on a tree lined and much sought after street, and that I will now have the opportunity to start the search for No. 4.
A huge thanks, once again, to my lawyer Sarah Ricciardelli of Ricciardelli and Small, LLP who ALWAYS has my back, and is super smart and savvy. To my Realtor Alan Duggan of Compass who lets me do things my way, lent me that great mirror for “the show”, and with whom I am happy to report recorded his first sale at his new hotshot company! To my movers – Humboldt Moving and Storage who allow me to “Relax and Get Moving”. I barely give that part of the effort a thought these days. Finally to my family and friends – particularly to Tiffany who, along with her boyfriend, helped me wrestle that damn chandelier down, and are always part of the sweep up crew – and to Joanne who wanted me to make sure you knew she brought boxes and tape….oh, and bubble wrap too! I couldn’t do it without you all. I send my deep gratitude. xo