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Updated almost 3 years ago on . Most recent reply
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Finding a Deal. Hard to find right now?
Hey everyone, I’m fairly new to flipping. I was a loan officer for 6 years so I understand the industry well and just went full time to flip houses 2 months ago.
Question is - is it difficult for anyone else to find a deal right now with a decent return on it? Been cold calling, texting, driving for dollars, and bandit signs. I’ve come across a few leads but every house is being bought at thousands higher than where I need to be at. Even after cutting margins to try getting the deal.
Are most investors over-paying right now for their flips? Possibly hoping once they sell they can get a higher price due to market conditions? Or possibly NY hedge funds over-paying on everything?
Would appreciate any insight. Thanks in advance!
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I lost out on a SFH yesterday. The other buyer paid $40k above asking and he put $25k into a savings account for the buyers new baby for her college fund! This is getting ridiculous now