Adapting to a changing market in California

[Blanca Wilson]

I've been told through multiple sources that to stay in the game, you better learn to adapt to a changing market and strategise accordingly. When I'm talking to real estate agents in California, many of them have said that SFH are being sold above market value and that in order to get said SFH I need to submit above asking price - how does that make sense when I'm trying to wholesale to flippers and still make profit? Should I move out of Southern California and start looking elsewhere?

[Charlie Fitzgerald]

I never offer what someone else says I should offer.  I analyze the transaction (buying, selling, lending...it makes no difference what type of transaction) and see what the numbers have to be for me to be where I want to be.  That's what my offer is based on.  Fundamentals that incorporate MY ideal placement in the transaction.  If my offer get's accepted based on that, then all is well.  If my offer does not get accepted and there is a counter that still is inside of my fundamentals for the transaction, then all is well.  If my offer is not accepted or the counter is not acceptable to me...so be it.  Next.

Maybe you do need to look at other markets...but you first need to determine YOUR ideal fundamentals.  That's my $0.05 worth!  ($0.02 adjusted for inflation.)  :)