Can’t find profitable fix and flip

[Steven Barr]

I have been flipping properties for 2-3 years and have done a fair amount of deals. All profitable 

I have 7 houses for sale right now and having some trouble selling them with this market slowdown

Meanwhile, I have been trying to find another deal for the past several months. I’ve probably looked at 200-300+ deals (wholesaler deals, agent deal, on market, etc) and all of them either lose money or break even. It seems as if the market has dropped, but only on the sell side, not the acquisition side. I’m not trying to be greedy and ask too much on discounts for the flips, I am literally just trying to find something profitable

My question is…. Is everybody else having this same problem? Am I in too competitive of a market (Atlanta, GA) bc there are actually people still buying these deals and ridiculous prices? Do I just not have the right people in my network?

Thanks for the insight!

[Ronnie C.]

I'm on the verge of completely giving up!! I can't retire, refuse to work for someone else,  but I do have cash built up (Thank GOD), and a 850 Fico across all the Credit Bureaus. The reason I don't have more cash is thanks to a former business partner and 5 years of litigation. I got back a drop in the bucket and have been trying to rebuild ever since. Hence why I say, "the only ship that don't float, is a partnership!!"

I need flips IN VOLUME to build cash and have money to live on. Rentals can't do that!!! 

I quit building last year (slow market/high rates) and have been trying to find a flip for quite some time as they seem to move rather quickly on the market surprisingly. All I come up with are so called "wholesalers" with not even a marginal deal. Back in the day when I started flipping 18 years ago it was 70% of ARV minus repairs minus wholesale fee. These wholesalers TODAY are either clueless on rehab cost, real ARV and/or people are actually overpaying, which I have seen that quite often on MLS. (I have TN re license)

Example: A Realtor (roll on floor laugh my butt off) paid $180,000 for a house last year that might go for $250 ARV today! 5 months and at least $40k minimum later she list it at $265k (still laughing) it closes at $245K cause it wouldn't appraise! It's not a Christian thing to say but I hope that all these people out here not following the 70% rule, or people overpaying for rehabs choke on it!

I have been hopeful in finding a deal out of state as I have a Realtor in that area that believes I can find the on market deals i'm looking for. Problem is finding a investor friendly GC in that area. I've spoke to 1 I like so far but Would like to have others on my team as well. I'm kinda doubtful in finding on market deals there though and don't want to waste the Realtors time even though he thinks it can be done. 

The internet, gurus-advertising constantly in reels feeds, and TV shows has killed this industry. 

Now useless NAR settled in that dumb lawsuit that they should have never lost and that's just going to add to more problems in the real estate market. If it ain't broke, DON'T FIX IT!! All the buttholes suing and their copycat suits are basically suing McDonalds for hot coffee!!! This is going to add to more trouble in the markets.

I don't see how I can make it any longer, I keep asking God to open a door for me.

Meanwhile, I keep practicing "Welcome to McDonalds, may I take your order please!"

Maybe I can get a door greeter job at Wal-Mart?