$70,000 profit on a flip in Orange County (SoCal)

[Dmitriy Fomichenko]

Talking to numerous investors here locally I hear that it can be hard to make numbers work on a flip in Orange County in southern California because of the high prices. I guess that is true for the inexperienced investor but not so for the pros like Joe. 

Recently I've met with one of our clients @Joe Homs to interview him and discuss recent flip he was doing with his team. Joe also invests using his self-directed 401k but this was his personal deal.

He found this one on the MLS (probate sale in pretty bad shape), which should be encouraging for many - the deals are out-there, you just have to look. With the expected profit of about $70K and only couple months of work this is going to be sweet deal for them.

Would love to hear from other local investors in the area about their experience and how they make numbers work.

"The numbers are expensive in Orange County so is the profit at the end of the day" 

Joe Homs

Here is the video of the interview: