February 06, 2017 07:51 AM

This article originally appeared on money.com.

In the cut-throat world of New York real estate, Lisa Simonsen has made a name for herself making sales for luxury homes.

But one of her most impressive skills is finding multi-million diamonds in the rough and flipping them at a considerable markup.

“You are really finding some of the most unique properties that are undervalued, that have such great opportunity and potential,” Simonsen says.

RELATED: Grab Your Checkbook! The Most Expensive Home in America Hits the Market for $250 Million

The first house Simonsen and her team flipped was a 5,000-sq. foot property acquired for $6 million. After 18 months of work, Simonsen didn’t actually sell the house—she’s been renting it out for $50,000 per month.

Her latest project is a bare bones property acquired in the “low teens” (meaning millions) that she expects to flip after about a year and a half of work.

“It’s just very exciting to see the end product,” she says.

You May Like

EDIT POST