We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.
Offer #11 came in this morning:
Good Morning Jim,
Hope you’re having a good week so far. I was able to check out your listing on Sunday, thanks for making it easy access. We are an investor buyer, and purchase with Cash, no loan of any kind. I had a chance to run numbers. Looks like we are a bit off list on this one, but, we like to get our name in the hat just in case.
I always like to share how we arrived at our offer price in the spirit of transparency. As well as to show you we don’t just throw a number out there and see what happens. We have a strict formula we buy off of that we arrived at through many years of trial and error, and put in place to make sure we avoid losing money as often as possible. On that note, I am always open to feedback on our value and rehab assumptions in case there is something you think we are missing, a comp you can bring to light to increase our value etc. Always looking to get a deal done!
Below is a breakdown:
1.595M Value all fixed up.
180k rehab (Assuming full updates, landscaping, adding AC, and opening up the floor plan)
80k Sales commission on the back end.
16k in closing costs (both closings, we will pay your seller’s as well, assuming we can select them)
4k in builders risk insurance
2k for staging
For this to make sense with our current margins, we would need to be at $1,165,000 all cash! We can close in as little as 14-21 days, or accommodate seller’s timeline. We are willing to cover seller Escrow and Title Insurance.
Thank you for your understanding & have a great week!
P.S. I will lose my ass one day flipping homes. Don’t know when that day will come.
Love,
Flipper
For this to make sense with our current margins, we would need to be at $1,165,000 all cash!
Looking to make 10% in 2-3 months. It’s a good gig if you can just land the properties at the right price!
It won’t be my listing though.
I love “opening up the floor plan.” What a stupid offer. Maybe they paid thousands for a seminar and this is their first foray?