Searching for our first flip!!

[Kristen Thornton]

Hey folks! In the very beginning stages of research for our first flip...... Just curious as to what everyone's thoughts are on foreclosures (specifically anyone from Delaware County, PA?) I'm hoping to connect with other investors in the area to do a bit more research before making our first purchase so I would love to hear thoughts!

[Rafael Floresta]

@Rich O'Neill is right. There are some flip opportunities but they are hard to come by and dont sell as easy as Philly flips. That said, if you find something that you can keep as a rental as a backup exit strategy, than maybe it will work well. 

I buy foreclosures (sheriff sale) and turn them into rentals. I only do buy and hold. If you are interested in foreclosures, it is a complicated game that you need to understand the risks and processes so you don't get burned. Buying REO's off the MLS/auction.com/hudhomestore.com is a legit way to buy too. Just a bit more expensive but less risk.