In this market, how do flippers find properties to flip?

[Rehaan Khan]

Question to experienced flippers, where do you guys find properties to flip? Even though the market is hot, there are still deals out there. 

[Andy Sabisch]

You will get 100 ways to find a property ranging from retail to wholesale to off market to driving for dollars to bandit signs . . . . the list is endless but many rely on the area to work. The bottom line is that the numbers have to work to make a flip doable. How you find that property where the numbers work depends on your area and what the profit you are looking to make. In our area you can find properties for less than 100K all day long . . . the problem is that putting $20K into it will leave you barely breaking even.. Be careful with wholesalers who offer you a property with an inflated ARV and an under estimated repair cost just to get you to take the assignment. If you have not down flips before or not in the area the wholesaler is offering you a property, tread carefully as there are areas where block can make a huge difference in the payoff.

Remember the saying, You make money buying not selling . . . . so buy right and the rest flows on a flip.

We have purchased our last few properties from 1) an auction (Hubzu), 2) a FSO and 3) an under priced retail sale which had been on the market for months and all it took was elbow grease (and a better listing agent).  There are deals out there . . . but for a flip make sure the numbers work especially if you are new to the flipping side as prices for material and now labor is going up and down  every day.

Hope this helps