Houses seating on MLS

[Gildas Dossa]

Hello,

I am just going through the purchase of my first investment property right now. But my issue coming here is the following. I see quite a number of houses around $50k-$80k seating in the MLS for weeks and months. The neighborhoods seem to be decent (B- areas). I go see the houses and most need just TLC (about $20k at the most) and would have around $500k cash flow or $40k-$50k profits on flips. I just can't put my hands on why investors are not getting these houses. So, in your opinion, what could be the reasons why investors are not purchasing those houses? FYI, I am in the Augusta, GA market. I want to jump on them, but just worried about what I don't know. Thanks.

[Matthew Kwan]

HI Gildas, sometimes looking into the price history on Redfin/Zillow and title profile, you'll be able to conceptually create a story on what could have happened. It could be listing price was too high, buyers failed finance contingency, or discovered something during the inspection process. The properties that usually sits in the market 21+ days will allow you have more leverage against the seller vs a house that just got listed and the chances of going into a bid war will be high. the best way to find out is really to just tour the house with your agent and just rely on your self-judgement. @Albert Bui @Carlos Valencia