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Flipping houses a big business in Nashville

Posted at 7:25 PM, Jun 18, 2019
and last updated 2019-06-18 20:32:01-04

NASHVILLE, Tenn. — With Nashville being labeled as an "it" city, and hundreds of people moving to the city each week, it's no surprise that developers and flippers have targeted the city in hopes to make some money flipping homes.

Some developers use the same mold over and over again, earning the name "cookie cutter" homes, other companies focus on making each individual project different.

“Nashville, unlike some other cities, have these great old homes.” Caprice Palmer, co-owner of Enchanted Homes, said.

Palmer said she started her company about three years ago with Deb Campbell, and in that time, they've targeted the most run-down homes they could find in hopes to bring the homes new life.

“I just like taking things that are not pretty anymore and making them pretty again,” Palmer said. “We just don’t want to see houses torn down, and we would rather bring them back.”

While Enchanted Homes isn't a large operation, it's one that's very thoughtful. They never work on more than three projects at a time, and when they work on a project, they do everything they can to preserve the home while bringing it to a place that people would consider it "current" and would want to live in it.

“The amount of renovations we do on a house, basically, you’ve built a new house in the shell of an old house," Palmer said, adding that it takes a lot more work than they make it seem on house flipping shows on TV. “It’s a little trickier than they show it, but super rewarding at the end of it.”

The fact that Enchanted Homes tries to save homes, some more than 100 years old, sets them apart from other developers, according to Palmer. “They’re doing it to be fast and quick, and we’re doing it to make it beautiful and be fabulous for another 100 years, and that’s probably the difference.”

And according to Palmer, it's paid off. They've grown a following, and many of their homes sell before they hit the market.

Still, they hold open houses so people can see the kind of work they do, either for their own inspiration, or to get a chance to meet Palmer and Campbell to see what else they have going on.

“Okay, what’s your next one? This one’s sold, what’s your next one?” Palmer said, quoting potential home buyers who visit their open houses.

Palmer said while the business can be tough and a lot of work, she believes flipping homes in the manner Enchanted Homes is doing it will continue to be good business in Nashville, as people continue to want to move here, and will always want a nice home.