Fix and Flip?

Question

How do you find a house to fix up? I have been driving around town and scanning the internet for several months and have not had any luck. Looking for suggestions

Franklin Romine · Answer

@Jessica Selby

How many owners did you talk to when you were driving around?

Frank

Jose Rodriguez · Answer

I am a new investor and I was able to find a few deals within days without driving around.  I also suggest to network with your local wholesalers they constantly have deals available.

James Clark · Answer

@Jessica Selby

First what type of property do you want to flip? House, apartments, duplex's

What's the price rang? you can flip a 30,000 house or a 1,000,000 house

Do you want to flip for a rental or resale? So in most cases that comes down to the neighborhood

Write a plan down of what kind of property you want to flip, then you can narrow it down.

don't look for a for sale sign. Find the properties that look like a great flip, write the address down and find the owner. Then you call and ask.

You: Hi my name is ------- I was driving by your property on (give the address) and it fits of what I'm looking for, have you ever thought of selling it.

If they ask why be honest, tell them your plan maybe they wanted to do the same thing but do not know how or the funds.

I also look for rentals, I drive or look in the newspaper and look for rentals, ones that are not property managed and ask if they would sell or if they have any others for rent they don't want or handle.

Your goal is find ones that are not out for sale, in most cases if you find one for sale when you are driving around another investor has looked at the property or a agent called one of there investors and said I have one that just got on the market before the for sale sign hit the ground.  Don't get me wrong you can find good flips when they are on the market, its just harder to find.

I would try and be on the list of people that the agent calls

Don't get discouraged, its not easy but when you get a flow going it gets easer

Hope that helps

Mark Brogan · Answer

do what @Chris Seveney for sure drive around more and look for properties in bad shape,email market to realtors,attorneys,bail bond companies and the like if you are handy with a hammer go work with another investor for free and learn the the remodeling biz i met a new investor at our last meetup,he is buying a wholesale deal from a friend of minemy friend and i are both goin to help him remodel for free to learn more about this businessput your work boots on and always remember there are not quick easy ways into this biusinesswelcome to bp @Jessica Selby

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