Brumfield excited about newest trend in Real Estate &8212; flipping
Published 12:00 am Thursday, October 19, 2006
NATCHEZ &8212; &8220;Flipping houses&8221; has nothing to do with residences gone mad; and it isn&8217;t about pancake breakfasts or fast-food burgers.
Rather, for some savvy entrepreneurs, it is one of the hottest trends in real estate today.
The concept is not new, but the speed with which the new guys are &8220;flipping&8221; is what makes the business very 21st century.
In Natchez, Cynthia Parker Brumfield is one excited about the possibilities. She is working on her fifth house &8212; the other four were in Louisiana &8212; and has three more in mind for her next projects.
Brumfield said she knows the term &8220;flipping houses&8221; as derived from the reality television show, &8220;Flip This House,&8221; in which professionals quickly make changes in a house to make it more attractive for sale.
Her first was an old Victorian-style house in New Orleans. It needed some color and life brought back to it; so she busily did that herself.
&8220;I&8217;ve painted all my life,&8221; she said. &8220;I started painting, doing some faux finishes, redesigning some things, and it was a transformation,&8221; she said. The house sold soon after she put it on the market.
After moving to Monroe, La., she did the same thing. &8220;The first house I did there had three couples in a bidding war for it,&8221; she said.
The decorative painting intrigued her, she said. &8220;I went to New York to learn professional decorative painting. This was a time before there were so many user-friendly paints. Now it&8217;s easier for he average person to do some of that kind of painting.&8221;
Working on a modest two-bedroom house in the West Montebello area, Brumfield has two carpenters busy with the changes she is making to bring more light and efficiency to the space.
&8220;I was going to do just some small things, but I decided walls had to come down,&8221; she said, adding that she never makes a structural decision without advice from her professional carpenters.
She showed a room where a low flat ceiling has been removed and a vaulted ceiling created in its place. &8220;We&8217;ve come a long way,&8221; she said.
Brumfield liked the neighborhood. She believes the house with its new look and conveniences will appeal to a retired couple or to a young family buying a first house.
&8220;I wouldn&8217;t put my name on something that was not done correctly,&8221; she said. &8220;When you do this kind of thing, you have to know what you&8217;re putting into it will turn around for you. You have to work within a budget.&8221;
On the reality show, the turnaround is faster than in her real-life situations, Brumfield said. She does some of the work herself and acts as contractor.
The approximately 2,000-square-foot house she is working on now will take approximately two months&8217; work, she said.
Advice to anyone interested in trying the quick-fix and turnaround is: &8220;First, don&8217;t get in over your head. Know your capabilities, who you&8217;ll have to hire; figure up all your electrical, roof and other expenses. Make sure there are no termites.&8221;
She said those who find a good deal and then put time, energy and creativity into the house will be proud of what they have accomplished. &8220;But don&8217;t do it if you don&8217;t enjoy it. It&8217;s not for everyone.&8221;
She buys materials in Natchez and she buys materials of good quality. It pays off, she said.
In addition to any decorative painting, she probably will do all of the wall painting, Brumfield said. She expects her son, Parker, 16, to help.
&8220;Already people are stopping by to ask about the house,&8221; she said. &8220;That&8217;s a good sign.&8221;