2 Things

[Lennie Holland]

I've been driving around a good bit trying to learn my "farming area" and I've learned two things, which I'm not sure if it's good or bad?

1. It is amazing how many distressed properties there are in this area. Before starting to think/look at properties in a REI frame of mind I'm not sure I would have ever noticed them. I started off driving slow through neighborhoods and closely examining every property to determine if it was vacant. Now I can pick a vacant property, take a picture, grab the address and almost not even slow the car down. My wife has starting riding with me some and she keeps saying "How do you know it's vacant? That one's not vacant" and I stop go up to the house and show her it is indeed vacant. Now everywhere I go I look at property thinking, "what is that property worth?" and "could I make it worth more?". It's becoming second nature to look at property this way, it's weird. It makes me wonder if I'm just in a good area? or these properties are everywhere, I've just never noticed.

2. The only house flipping that seems to be going on in my area is from one company, Nation One Realty Group, Inc. Somebody commented on one of my earlier post that they could recognize their style of rehabbing easily and to tell you the truth I thought that person was crazy for saying that, I mean how could they know who rehabbed the property? right. Well I understand now and I can pick those houses out too. It does make me wonder why there seems to be no other flippers in this area? On the one hand I feel like it's a good thing, maybe I'm one of the first flippers for the area. On the other hand I think it's a bad thing and other flippers have left the area and I'm the last one, which I don't think would be good. Either way seems to me that there are properties/inventory here and there's a market/need here so I will keep moving forward.

Haven't closed in deals yet just some "close but no cigar" deals, it will happen I just need patience and persistence.