Anyone else finding flips to not pencil out lately?

[Henry Lazerow]

For some context I have completed 3 BRRR's and brokered dozens of deals to investors both on the buy and sell side. But lately have had a hard time finding anything to BRRR or even with enough skin to flip. I bought all my deals off MLS but also get lots of emails from wholesalers. The wholesale deals are even worse then what I can negotiate off MLS. Some example...

$135k firm counter from seller and needs $40k rehab. Close costs/carry on both sides will be around $17k. All in $192k and could sell hopefully $215k. It's OK but super skinny and a lot of work doing a rehab loan for $23k profit if everything goes perfect. Thats with my cheap subs and me paying them cash using a GC this would be a $70k rehab and negative equity. 

Other deal $137k lowest and needs $25k rehab ARV $180k. Would be a buy/hold and cashflows decent probably get $1800 but skinny from equity standpoint and in a C area with a basement that needs atleast $10k alone.

My guess is most of the deals selling go to newbies who have no idea what a rehab really costs or that once you open the walls the costs often go up 10's of thousands so you need a solid margin to make money.