Lakewood, NJ · Member since 2015 · 17 posts · 3 votes
Hi Everybody,,
First, special thanks to everyone here at BP for the informative material you could find here.
Although I have done 16 Rehabs & Flips, all of them within 30 miles from where i live,
I am now looking to invest and a town that is about 50-60 miles, i have found a neighborhood that i believe will be a great market for Flipping , based on Purchase price and ARV comps that sold very nicely.
My question is the neighborhood is flooded with........ Foreclosure Properties!!! what does this say in regards Flipping in this neighborhood???
First, special thanks to everyone here at BP for the informative material you could find here.
Although I have done 16 Rehabs & Flips, all of them within 30 miles from where i live,
I am now looking to invest and a town that is about 50-60 miles, i have found a neighborhood that i believe will be a great market for Flipping , based on Purchase price and ARV comps that sold very nicely.
My question is the neighborhood is flooded with........ Foreclosure Properties!!! what does this say in regards Flipping in this neighborhood???
Your insight will be greatly appreciate it.
Thanks in advance!
There are still neighborhoods flooded with foreclosures?
As arehabber the only thing I would really care about is, do you have retail sales in the area, and what does that look like.
Non reos, what's average DOM 30-90-180
I would check to see what % of houses are selling within the first 30 and 60 Dom, I would see what those look like, and then can you compete in that selling price point and quality.
Manville, NJ · Member since 2015 · 140 posts · 59 votes
10y
I am in a market with a good Supply of REO properties. They are a different buyer then rehabbed properties. So my thought is that as long as the market has regular sales, get flipping.