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Updated 10 months ago, 02/27/2024

User Stats

24
Posts
3
Votes
Michael Gustavo
  • Bay Area, CA
3
Votes |
24
Posts

SF/Bay Area flipping opportunities, are they out there?

Michael Gustavo
  • Bay Area, CA
Posted

Like the title states, are there flipping opportunities in the SF Bay Area? If so, how are you finding them? I was told they are few and far between but I refuse to believe they aren't out there, just need help finding them and would love to hear how other have found them and how they've faired.

Thanks!

Mike

User Stats

14
Posts
9
Votes
Dan Redmond
  • Real Estate Investor
  • San Francisco, CA
9
Votes |
14
Posts
Dan Redmond
  • Real Estate Investor
  • San Francisco, CA
Replied

Michael, Refuse all you want, you are still 5 + years late to the game in the Bay Area. Better returns are to be had elsewhere. I have been in SF longer than the Giants ('58), just so you know, and I am now selling and moving out. Never buy high. Good luck. 

User Stats

24
Posts
3
Votes
Michael Gustavo
  • Bay Area, CA
3
Votes |
24
Posts
Michael Gustavo
  • Bay Area, CA
Replied

@dan_redmond so you speak from experience, you have ventured into this type of method?

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User Stats

139
Posts
52
Votes
Naveed Q.
  • Investor
  • Brentwood, CA
52
Votes |
139
Posts
Naveed Q.
  • Investor
  • Brentwood, CA
Replied

@Michael Gustavo, I have been finding deals through MLS. I have a full time job and even with that I was able to get 3 deals this year... working on the 4th one. Not a whole lot, but I know I have missed couple because of lack of funds or not being quick enough to make offers. I have tried working with wholesalers but that deal avenue has not worked for me yet.

User Stats

76
Posts
20
Votes
Spencer Hsu
  • Realtor
  • Palo Alto, CA
20
Votes |
76
Posts
Spencer Hsu
  • Realtor
  • Palo Alto, CA
Replied
Originally posted by @Naveed Q.:

@Michael Gustavo, I have been finding deals through MLS. I have a full time job and even with that I was able to get 3 deals this year... working on the 4th one. Not a whole lot, but I know I have missed couple because of lack of funds or not being quick enough to make offers. I have tried working with wholesalers but that deal avenue has not worked for me yet.

Would you be able to share what numbers/returns you are looking to achieve? Curious what margins flippers are looking at to pull the trigger

User Stats

173
Posts
74
Votes
Maria D'Aura
  • Real Estate Agent
  • Livermore, CA
74
Votes |
173
Posts
Maria D'Aura
  • Real Estate Agent
  • Livermore, CA
Replied

Is there a particular city you are interested in? I'm a realtor in the Bay Area, an investor with BA rental properties and a few remodels under my belt. Also, keeping my eye out for a flip opportunity. If you're looking for an agent with an investor perspective let me know.

User Stats

91
Posts
40
Votes
JingJing He
  • Hayward, CA
40
Votes |
91
Posts
JingJing He
  • Hayward, CA
Replied

My general rue for the Bay Area is if the rent can support the payment and fixes, then I am going all in in the Bay Area.

User Stats

107
Posts
37
Votes
Michael Kovac
  • Rental Property Investor
  • San Diego, CA
37
Votes |
107
Posts
Michael Kovac
  • Rental Property Investor
  • San Diego, CA
Replied

There are opportunities in any market but when tides are high you have to get creative. Pre-market, off market, cancelled and expired listings are a great please to start. There is always a way to find the "low hanging fruit" you just need to know where to look and work with the right people! Speculation is always a key element as well, you cannot be afraid to go for the B/C neighborhood when the marketplace such as the bay area, is so volatile. 

User Stats

1,484
Posts
425
Votes
Adrian Chu
  • Real Estate Broker
  • Seattle, WA
425
Votes |
1,484
Posts
Adrian Chu
  • Real Estate Broker
  • Seattle, WA
Replied
Originally posted by @JingJing He:

My general rue for the Bay Area is if the rent can support the payment and fixes, then I am going all in in the Bay Area.

Do those exist? :)

User Stats

24
Posts
3
Votes
Michael Gustavo
  • Bay Area, CA
3
Votes |
24
Posts
Michael Gustavo
  • Bay Area, CA
Replied
Originally posted by @Maria D'Aura:

Is there a particular city you are interested in? I'm a realtor in the Bay Area, an investor with BA rental properties and a few remodels under my belt. Also, keeping my eye out for a flip opportunity. If you're looking for an agent with an investor perspective let me know.

 Hi Maria, yes I do, would love to exchange information with you.

User Stats

77
Posts
25
Votes
Armand Farr
  • Investor/Agent
  • San Francisco, CA
25
Votes |
77
Posts
Armand Farr
  • Investor/Agent
  • San Francisco, CA
Replied

Hey @Michael Gustavo - I'm actively sourcing buy & hold and flip deals in the Bay, largely focused on mid-Peninsula. 

Drop me a note and we can chat - curious to hear more about your criteria and happy to share things that come my way.

User Stats

172
Posts
67
Votes
Gi'angelo Bautista
  • Flipper/Rehabber
  • San Francisco, CA
67
Votes |
172
Posts
Gi'angelo Bautista
  • Flipper/Rehabber
  • San Francisco, CA
Replied

@Michael Gustavo Yes, there are flipping opportunities in the SF Bay Area. Take a look at Redfin or Zillow in any city and you can find homes that were flipped. 

User Stats

11
Posts
3
Votes
Ben Paras
Agent
  • Real Estate Agent
  • Burlingame, Ca
3
Votes |
11
Posts
Ben Paras
Agent
  • Real Estate Agent
  • Burlingame, Ca
Replied

There are definitely still some opportunities out there but competition is high. I just completed my second one. Both I found off-market in the same neighborhood. Found the first one through a direct mail ad. The second was a neighbor.

  • Ben Paras
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User Stats

24
Posts
3
Votes
Michael Gustavo
  • Bay Area, CA
3
Votes |
24
Posts
Michael Gustavo
  • Bay Area, CA
Replied
Originally posted by @Ben Paras:

There are definitely still some opportunities out there but competition is high. I just completed my second one. Both I found off-market in the same neighborhood. Found the first one through a direct mail ad. The second was a neighbor.

 Congrats! Yeah I realize it isn't easy, I'm still searching.

User Stats

222
Posts
121
Votes
Chrissy Parsons
  • Specialist
  • Branford, CT
121
Votes |
222
Posts
Chrissy Parsons
  • Specialist
  • Branford, CT
Replied

@Michael Gustavo sounding like a broken record here - you need to get creative to find the off-market deals. @Ben Paras said he had some success through mailing. I'm curious what kind of list he used.

If you work with a list broker they can suggest lists that can be customized to your area and investing goals.

Absentee Owners have been the go-to list for years, but in a competitive market like yours, you need to get creative since it's safe to say that the absentees have been getting multiple offers in the mail.

Consider Owners with Low Financial Stability Scores and Seniors with Long-Time Ownership.

User Stats

11
Posts
3
Votes
Ben Paras
Agent
  • Real Estate Agent
  • Burlingame, Ca
3
Votes |
11
Posts
Ben Paras
Agent
  • Real Estate Agent
  • Burlingame, Ca
Replied

Hi @Chrissy Parsons, I sell real estate full time so I typically send marketing postcards to the same neighborhoods. It's a geographic list, we market to that neighborhood because of turnover ratio.

This person decided to sell to me directly because his home was in horrible shape and it wouldn't have shown well on the open market. He owned multiple properties and lived out of state. I offered him cash but part of the deal was that I had to get rid of all the junk at the house so he didn't have to come back to California. Turned out to be 6 truckloads! In the end it worked out for both of us :) 

  • Ben Paras

User Stats

222
Posts
121
Votes
Chrissy Parsons
  • Specialist
  • Branford, CT
121
Votes |
222
Posts
Chrissy Parsons
  • Specialist
  • Branford, CT
Replied

@Ben Paras - Quite often Senior Homeowners have the same situation even though they are owner occupied. Here's a link to an article: https://www.biggerpockets.com/blogs/10944/74462-yo...

This goes through some value propositions that you can put into your letter or postcards. Could help you to branch out into other neighborhoods.

Some of these ideas came from when I helped my parent move... 

User Stats

1
Posts
0
Votes
Replied

Hi,

Do you still flip homes?  I live in Bernal Heights (19 yrs) and I'm ready to go to an apartment.  LMK if you're serious, and *please* don't put my name on a list.

I'm busy through 3/1/2024, but can meet anytime after then.

Thanks, Yvette