Buy a house for renovation, then sell it. The operation, called flip, can be paid. But it is risky. With 20 such transactions to its credit, Marie-Jeanne Rivard seems to have found the right recipe … Portraits and advice.
Marie-Jeanne Rivard, early thirties, not as a master of the flip universe. With nearly twenty houses purchased, redesigned, refurbished and resold, she made a full time job and a passion. Entrepreneur under construction, it is also the star of the new daughter of Flip issue presented in autumn at the Moi & Cie chain.
Its first renovation project, it was in 2006 with his sister. “We bought a duplex together. We have completely renovated and lived for three years. At that time, I was graduate student. We used to renovate the apartments to bring them to our liking. Then we made calculations and we thought that buying something and develop it according to our needs would be better than doing the four walls that do not belong to us. “The one that was destined for a career in psychiatry got carried away by the whirlwind of exciting work and swapped the lab coat of a research center and doctoral studies for the construction helmet and life on a construction site.
“It occupies so much space in my daily life and my boyfriend! He is an urban planner training and we like to work together on projects. The day starts talking renovations, and ends the same way. It’s a passion that we share for two. “But we also relax and recharge the batteries. The home they built north of Montreal is their haven. “My boyfriend has its maple grove me without cellular connection, I want to relax and disconnect.”
Successes and emission
After almost 10 years, Marie-Jeanne Rivard has several major projects. “If nobody wants to buy, there is a good chance that I’m interested. I am recognized for selecting complicated projects, but the result is worth the cost. ”
While others give up, the entrepreneur dynamic guard motivation by thinking that it will get to the final. She sees the potential from the first second and excels in construction management, regardless of the obstacles.
So we suggested him to have his own show of renovations: daughter of Flip, broadcast Moi & Cie. With a budget of $ 400,000, it must buy, renovate and sell a house in 90 days. “The idea was to have a realistic and informative program. We show them my work as an entrepreneur general, the ups and downs of major renovation, and each step is detailed, the choice of the property to renovate, to delivery to the buyer, “says Marie Jeanne Rivard.
But the issue could also play another important role, she hopes. “I wish it inspires other women to enter the field of construction. It is an environment that is not at all reserved for women and this is a very intellectually challenging profession. This is not the art of wielding the hammer until a long series of organizational challenges. ”
The project BoxHotel
The businesswoman already planning a retirement that could happen much more quickly than one would think: “The idea of wanting to retire at 35 years is being able to achieve financial independence that will allow me to work on projects that interested me at the time I admit. And the hotel project, called BoxHotel goes in that direction. ”
In the heart of the Quartier des spectacles, Marie-Jeanne Rivard bought an old building it has shaved full: “I like working with the existing one, to preserve the heritage and limit costs, but this time, it was simply impossible. “On this same intersection, it began construction of a small complex of 20 apartments fully equipped microwave with coffee, bar, ballroom, gym and roof terrace. “I want to test the concept and see if that can then be exported elsewhere.”
His houses, his signature
In each of its projects, it adds a personal touch, a kind of signature: “From the outside, this is the address in the clear in a frosted glass. Walking through the South West, in Montreal, we can recognize the thoughts that I have made. Then inside, it is the heated concrete floors throughout the house. ”
The minimal and functional design of Marie-Jeanne Rivard is also a kind of feature to which it was associated. It maximizes the entry of light and creates a practical, but are entirely up to the point. “That’s what matters to me most: healthy living spaces I design from A to Z while maximizing the potential of the property.”
Each house by Marie-Jeanne Rivard found a buyer: sensitive people for whom the favorite justify the purchase. “I’m often told that my houses have a beautiful soul. It is there, my success. ”
Tips to get started
Five tips from Marie-Jeanne Rivard before launching into a flip.
“We must avoid falling into the trap of flips to the US.” For Marie-Jeanne Rivard, that means making a transaction that amounts to a makeup job. Painting, floor sanding, renovation summary: the goal is to minimize costs and maximize profits. “I think it’s cheating. This is not a real flip if you have not been to the bottom of things. When I sell, I know the person for money. For this to be successful flip, we must aim at a zero produces anxiety. ”
Think we are in Quebec
Most television programs that present projects of major renovations and flips are tours in the United States. “In Texas, the windows do not have a thermos, it speaks neither isolation nor winter.” Additionally, the Code of Quebec building is strict. As the rules change from one province to another, be based on the figures of an American or even flip Ontario is a mistake that can be costly.
Having his team
In a major renovation project, you have to work with the right people. “It makes things easier to have a team from the first visit of a house. Above all, he must already have chosen a contractor. In visiting with him, he can make comparisons, do some quick calculations and see the realistic potential of the flip. An entrepreneur can already view the site and decide on the real interest of the property. ”
Inspect and ask questions
“Anyone who buys a home should have it inspected by a qualified person, such as a building inspector. And before signing the purchase agreement, we must ensure that our project is acceptable to the municipality. The architect will make representations to the municipal authorities to complete the project before the purchase. “Sometimes people buy and when to start their project, they realize that the municipality does not allow it.
If it is decided to undertake a flip in order to sell, the end result must be unique. “That does not mean finding a way to install an inground pool in the tiny backyard. I am talking to arrive to a unique product in terms of design and space: play with windows, ceilings, preserving the history of the building, etc. We can not hope to sell at a good profit if we only cut and paste. We must distinguish themselves. ”