Market Condition for Rehabbers!

[Jason Kim]

I know the market got slow down for flipping properties, but still I would like to ask these questions so I can understand how and what everyone is doing.

Questions for active rehabbers..

1. Are you currently active on flipping properties even on this market? And how often do you flip houses?

2. And what are the most important things I need to do in order to flip properties still even on this slow housing market?

3. Your rehab is done but not selling, what do you think the problem is? And what do you do with that house now?

Hope you would understand that I'm trying to get in rehabbing but don't see this big "green light", and also hard to meet an active rehabber to ask these questions.

Thank you in advance.

[Steve A.]

All real estate markets are local. I am sure there are some strong neighborhoods to flip around you, and some to stay away from.

In my local market, the first time home buyers are the target buyers. That means buying flips for 40-50k and selling for 85-90k (comping out at 100-110). This is where the buyers are in my market.

You have to buy right, so you can sell a rehabbed home under comps and still make money.

If a realtor shows me comps at 100k and they say they could sell it fast for 95k...... I plan on selling it for 85k. I know this before I make an offer to purchase.

You have to do enough local market research to feel confident enough to give yourself the "green light"!