How to find homes to flip?

Question

Where to find a wholesaler? What are some of the other ways to find a home?

Foreclosure homes worth it?

Marty Boardman · Answer

Find a local hard money lender, you'll get the quickest underwriting approval and best terms. Usually they'll want around 20-25% down (if you're new). Some lenders will finance up to 80-90% of your rehab too.

There is A LOT of money out there to lend, so take your time and don't pay anyone up front for processing, research or due diligence. The legit lenders will look at the property, equity, rehab needed and approve off of that without charging you any BS fees.

Andrew Syrios · Answer

There are lots of ways. Wholesalers is one, but for the most part, the wholesaler will take a good chunk of the equity themselves or the property will get bid up by other investors. There are good deals this way, but you got to pick through them. (In fact, most wholesaler deals are terrible.)

SEO is a way that some investors have had success but that takes some time to get to the top of the search results. Foreclosure or tax auctions are another, but you need to be diligent. Probably the best way are good old fashioned letters (foreclosure, out-of-state absentee owners, dilapidated properties, etc.)

John Mason · Answer

@Kearsten M Higgs seems an option here  https://www.biggerpockets.com/forums/517/topics/1186880-join...

John Mason · Answer

Some more thoughts   https://www.biggerpockets.com/forums/67/topics/649671-flip-f...

John Mason · Answer

If you have some money to bring to the table , see if you can get into a  Joint Venture for the first few flips and keep it small like light rehab etc  ..

Kearsten M Higgs · Answer

If your up for the challenge of doing a flip, what would be your recommendation for a beginner to find the funding to purchase the property with enough funds to finance the flip?

John Paul Serenas · Answer

One way to find a wholesaler is to search online for real estate investment groups or wholesaler directories in your area. You can also reach out to local real estate agents and ask if they have any connections to wholesalers. Other ways to find a home include searching for foreclosures and auction listings, contacting a real estate agent, or looking for "For Sale by Owner" listings.

Foreclosure homes can be a good investment opportunity as they are often sold at a discount. However, it is important to keep in mind that foreclosures can come with additional risks and challenges, such as property damage or outstanding liens. That being said, if you're looking for someone to help you finance your flips I'll recommend you to someone I know feel free to message me!

Ali Radoncic · Answer

Hello Guka, please check your private messages.  I might be able to assist

Wale Lawal · Answer

@Guka Kagu

Real estate investing is a pretty solid investment strategy, and flipping houses is one of the more popular ways to generate cash flow. While flipping a home is lucrative, finding a home to flip is sometimes a challenge. Here are some of the best ways to find a property to flip.Hire a real estate agentFirst, it’s important to find a real estate agent who understands your business. This person should ideally be familiar with real estate investment strategies and flipping houses in particular. A real estate agent will have access to the multiple listing service (MLS), which gives you a list of low-cost properties, such as foreclosures and short sales.Find your target marketTo find a potential house to flip, one of your first moves is to find your target market. The goal is to find a great deal on a home that needs renovations, then perform those renovations and sell the home for at or above market value. These neighborhoods are often up-and-coming areas with features like public transportation, entertainment areas, shopping, restaurants, low property taxes, and great schools. Browse local auctionsWhen a lender forecloses on a home, the home is usually auctioned off. These auctions are public information that you can find online. The listing should include the time and date of the auction. You will need cash to purchase the property at the auction, and it’s one of the easiest ways to find a property to flip at a great price. If you choose this option, remember that you may not have time to view the home before you make a bid. Consider arriving early if the auction allows potential buyers to walk through the home first. You can also drive by the property and perform a visual inspection before the auction date.Look for REO homesIf a home doesn’t sell to a third-party at auction, it becomes a real estate-owned (REO) home. This simply means that the property ownership reverts to the lender. Keep in mind that the home will likely need thorough cleaning and repairs may be extensive.Ask about short salesIf a homeowner needs or wants to sell a home that isn’t worth what they owe on it, the lender may consider a short sale. This means the home is sold to a third party for less than the mortgage balance. These properties can be a solid deal for real estate investors, though the home may be in need of substantial repairs. For instance, if a homeowner doesn’t have the ability to pay for a home, they also lack the funds for necessary maintenance. You can find short sales on the MLS.

All the best!

Eliott Elias · Answer

Wholesalers are everywhere, put the question out and they will find you. Direct to seller in a distressed situation is best. Foreclosures are the best deals, also the most competition.

How to find homes to flip?

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