Struggling to find good flips

[Mike Boss]

I've noticed that sellers in today's market really don't want to lower their overinflated listing price. It's becoming more difficult to find good deals. I found this one SFH listed for $95k in a neighborhood where all the comparables sell for $130k-$150k. The property needs a good amount of work (around $40k). It would make sense for me to buy the house for $50k and put $40k work (all in $90k). And sell for $140k. But the seller doesn't even want to go below $90k from the $95k list price. It's been on the market for a while now because he keeps rejecting everybody's offers. I told the listing agent to call me if he ever changes his mind.

Until then I keep searching for properties in Ohio and submit low ball offers. It almost feels like I’m casting out a fishing line but no bites. I’m frustrated because I have the cash but cant seem to find anything. And I don’t want to force myself into a deal that isn’t good. 

I’ve thought about using prop stream or batch leads and calling a list of 1000 homes. Not sure if it works or not? 

I'm trying to find those rare deals that are very undervalue. For a flip I want to net min 30% ROI. And for a rental I want to hit a minimum 15% net ROI annually. some people think my numbers are unrealistic but I know it's not impossible. I just need to figure out how to find these deals.

I wanted to see if anyone has been in my position. I’m a young investor and sometimes it’s easy to become impatient or frustrated. I also invest in stocks but I missed the  opportunity with Bitcoin and NVDIA. I wish I could go back in time. Now I try to keep my eyes wide open and look for opportunities whether it be real estate, stock market, or something else. 

[Joshua Janus]

Quote from @Mike Boss:

I've noticed that sellers in today's market really don't want to lower their overinflated listing price. It's becoming more difficult to find good deals. I found this one SFH listed for $95k in a neighborhood where all the comparables sell for $130k-$150k. The property needs a good amount of work (around $40k). It would make sense for me to buy the house for $50k and put $40k work (all in $90k). And sell for $140k. But the seller doesn't even want to go below $90k from the $95k list price. It's been on the market for a while now because he keeps rejecting everybody's offers. I told the listing agent to call me if he ever changes his mind.

Until then I keep searching for properties in Ohio and submit low ball offers. It almost feels like I’m casting out a fishing line but no bites. I’m frustrated because I have the cash but cant seem to find anything. And I don’t want to force myself into a deal that isn’t good. 

I’ve thought about using prop stream or batch leads and calling a list of 1000 homes. Not sure if it works or not? 

I'm trying to find those rare deals that are very undervalue. For a flip I want to net min 30% ROI. And for a rental I want to hit a minimum 15% net ROI annually. some people think my numbers are unrealistic but I know it's not impossible. I just need to figure out how to find these deals.

I wanted to see if anyone has been in my position. I’m a young investor and sometimes it’s easy to become impatient or frustrated. I also invest in stocks but I missed the  opportunity with Bitcoin and NVDIA. I wish I could go back in time. Now I try to keep my eyes wide open and look for opportunities whether it be real estate, stock market, or something else. 

Thanks for the shoutout @Brandon P. !

Mike - where are you currently looking for deals right now? it is just on the market and zillow, redfin etc.? You need to build out your sources of deals to pull them off market. By the time a property hits the market it's been passed on by multiple people and could still make sense but if you can get your eyes onto the deals that few see that is where they are at. There are plenty of deals out there. I find at least 5 good off market deals a week in the Cleveland and Columbus markets that make sense for investors and line it up with them.