A flipping good time

Christine Fontenot has developed an immense passion for bringing older properties back to life as a house flipper.
“I really just love the process of flipping a house,” Fontenot said. “I don’t like the business side all that much but I do love the artsy part of the flip. How the building is going to look with fresh paint, new flooring, and new decor. I always say I like putting lipstick on a old house and making it look good.”
After retiring from the state of Louisiana following 24 years as an elementary school teacher, Fontenot then opened and operated “Christine’s Salon” in Mamou for a handful of years before moving full time into flipping houses back in 2011.
“I saw it on TV and I did some research and just got started,” Fontenot said.
The first property Fontenot flipped was a foreclosed home in Mamou which she purchased for $19,900. After investing roughly $25,000 into the property, she sold it for $78,000 and brought home a profit of $28,000.
Five years later, the now 67-year-old Fontenot has successfully flipped 15 properties in Evangeline Parish. According to Fontenot, most of her houses sell within three to four months from purchasing. The longest Fontenot has ever had to wait to sell a flipped house is 11 months.
So what has all that experience taught her about the business? Plenty it turns out, especially when it comes to the main difference between women and men when it comes to what appeals to them in buying a home.
“For the most part women want a nice and modern kitchen and nice bathrooms,” Fontenot said. “I have had more than a few men walk into a property look around for about two minutes and say ‘I will take it.’ That’s not always the case of course but there is a difference between how women and men view a property.”
Fontenot admits that with her properties that she places an emphasis on renovations that appeal to her female clientele.
Fontenot always works on upgrading the kitchen. If the cabinets can be salvaged then she will have her contractor sand them and repaint them or restain them, and then place new hardware and hinges on them.
New counter tops are important and so far she has used Formica and tile for her counter tops, but no granite or quartz as of yet.
Fontenot also removes carpet (especially old shag carpet from the 1970’s or early 1980’s) and replacing it with hard wood floors or high-end laminate or wood-look vinyl flooring. Fontenot does still try to put new carpet in bedrooms.
The outside of a property will get repainted and her contractor will do some partial landscaping (fresh mulch, fresh flowers, etc.) to help with the home’s curb appeal.
Thankfully for Fontenot she hasn’t had to invest a ton of money into any property, as she has been fortunate enough to not purchase a home with black mold or abestsos.
“On a flip you always have to worry about what you find inside the walls,” Fontenot said.
There are several aspects of flipping houses that Fontenot has also learned over the years.
“You also have to learn how to negotiate with a contractor, learn how to negotiate with banks and lenders and of course clients.
“You have to make sure you find and use a licensed and reputable home inspector as well.”
Fontenot also recommend that before entering the business of flipping properties that you have a good attorney, find a respected contractor, appraiser and realtor and a couple of different lenders.
Fontenot also recommends to reach out to other people who have done this type of work before, over taking courses or online classes about flipping.
Fontenot, who has worked with partners-investors before like the late Miles Briley, also warns about not spending more money than you should. The most Fontenot ever paid for a property was $99,000 and after investing $15,000 into renovations, Fontenot sold the property for $150,000.
“You have to make sure that the numbers are worth it,” Fontenot said. “You don’t ever want to put yourself in a financial bind.”
That lesson has also helped Fontenot into another profession, as she about a year ago earned her realtor’s license and now sells and shows properties for Keller Williams.
“I would find a property that wasn’t going to work for a flip but the property owner still wanted to sell it,” Fontentot said. “Finally my friend Mark Buller asked me ‘why don’t you get your realtor license?’ So I did.”
Despite having flipped more than a dozen homes, Fontenot’s passion for turning those old homes into coveted properties hasn’t waned.
“I love taking houses that have been rundown a little bit by either neglect or age and bringing them back to life,” Fontenot said. “I try to make them even better than they were before and make them a home for a new family.”