Specialist · North Hollywood · Member since 2017 · 71 posts · 19 votes
Hello,
I live Alhambra, CA. Im trying to determine whether it is a good farm area for flipping. J Scott says in his book that one factor is what is price ratio between what distressed properties sell for vs. what retail properties sell for. How do I figure this out?
Anssi
Investor · Gardena, CA · Member since 2016 · 41 posts · 14 votes
9y
Anssi,
You could try using filters on redfin or zillow to search for mls listed foreclosures. I checked and found 2 on Alhambra using this method. Contacting a realtor and asking for their input may give you a bigger (better) sample size to work with. My wife and I lived in Alhambra for some time and spent a year trying to find a deal for a fix and flip on MLS. The market in SGV is very competititve and will often include cash buyers for fairly priced properties on the MLS. Distressed properties are rare on the MLS and if there are distressed properties they will likely sell at very close to full retail price.