Investor Property in the Heights...thoughts?

[Graham Ginn]

Hello folks, due to the downturn in the oil industry and the uncertainty of its future I started thinking about how I can use the connections I have built over the last ten years in the O&G business and convert that into real estate money.  In my myriad connections with realtors, a friend who is a 30 year experienced top notch remodeler and architect, my wife's interior design connections and all her trade friends, plus my brother who is a broker/lender of loans, I'm perfectly cued up to make my first project a success.

However, I have questions.  Due to the contentious economic climate I can't help but think that after the pandemic there are going to be a huge flood of foreclosures.  I would estimate like 80-90 days and we should be seeing them.  I know of a property that is coming up that is one of those great Heights flips where some great money can be made.  Everything is ready to jump on, but I'm obviously worried about a possible 30-40% drop in the market after we start going back to work.  Any thoughts from seasoned flippers/investors that can give me some insight?  If you are also looking for a remodeling/design firm checkout www.locidb.com "Studio Loci" as they will be helping me with this first flip since they have 30 years of experience.  But in the meantime I'd like to get a feel for your thoughts and the coming boom that will follow this inevitably.  Any forums where like minded folks are thinking and sharing ideas together for the coming wave of possibilities?  My wife, also, works for Cambria and they make man-made quartz counter-tops made solely in the USA.  I can hook you up with some great fabricators who will give you a deal on cut and installation as I'm doing the same to benefit my flip.  I look forward to your comments.  Good Saturday morning.