All Forum Posts by: Account Closed

In the interest of helping you think through this...why? It sounds like you may have a reason for citing that number, I'd recommend that you work on articulating what the real underlying reason is.

I have found that entry level housing, the type that attracts families that are moving up from apartments, leads to great long term tenants. In some areas that might be in that range.

Sure so the first reason is a simple math answer. If I am spending my time to learn and build a team in a new market, spending time to rehab on average of let's say 3-6 months, I would want to upside of the renovation to be 50-100K or else it wouldn't be worth my time.

0 Votes

Quote from @Glen Wiley:

I would rethink how you are setting up your "buy box". Set up purchase criteria that will define success for you, an arbitrary minimum purchase price is not a great criteria, instead I would use something like proximity to good schools, neighborhood improvement trends, etc.

Finding good deals is really tough right now so it is important to have criteria that are solidly grounded and based on reasons that will steer you toward profits.

Obviously I wouldn't get anything that isn't near good schools, a good neighborhood, etc.

But I am setting the minimum because I'm not interested in areas that homes sell for $200K

0 Votes

Hello,

I am looking to choose a market to start diving into. As I know it takes quite a lot of work to set up a BRRRR operation I would like to start by picking one market to work on.

I will be working out of California so it would be ideal if it was closer to California so I can easily go out to the area as much as possible.

I have been reading a lot of people talking about Ohio, but I also know someone who has found a lot of success in the outskirts of Dallas (which is a bit closer to California). The person working out of Dallas has been able to actually do full BRRR with a full cash out refinance on his deals.

Would like to get honest opinions on where I should get myself looking- as specific as possible as far as towns.

Important: I am looking to get into houses in the budget of at least 200-300K. I wouldn't want to get involved in anything cheaper.

So an ideal would be to get something for $250-300K put 50-75K in rehab and get a house thats 350-500K.

Thank you

5 Votes

Hey guys!

I wanted to know if there are any markets in SoCal (driving distance from LA) that it’s still possible to do full BRRRRRs?

1 Vote

Quote from @Bob Stevens:

Quote from @Account Closed:

Hey guys,

I’m considering moving out to LA to get into flipping homes there. I’m coming with a budget of about 1-2m (including financing) I have contractors that can do all the work for me at a bit over cost (or at cost as partnerships). What I’m worried about is

1. The volatility in the market and possible crash coming

2. The ability for a newcomer to get pocket listings and deals that can make good sense.

3. Does the 1:1:1 formula work in LA?

Any insight will be appreciated.

IMO your crazy, brand new to the market, with only 1 mill, its LA, NOT a good place to learn,

Please explain

0 Votes

Los Angeles County, California

Quote from @Jason Meissner:

Daniel,

I think there are always flips to find and partner on in this area. Everyone I worked with is still going at it as hard as ever. In this area, where the values are so high per sqft at sale, there are always deals to put together. With your budget in this area you can make for sure $150,000 every 6 months in and out with a good team. Stay in towns only where permits flow at least somewhat on time.

You can't fool around in LA but the formula is easy. Get the BEST realtor in the area of your home, preferably a realtor who is also investing in remodeling homes. I am all about selling on time and on budget. A realtor that can pack your house on the day it hits the market will get you offers and the best price. This realtors long history of dominance in an area also brings pricing confidence when you are setting up your budgets on day one. if you are doing more than 1 per year and giving them close to full commission on the purchase and sale, you can really create a great team member who is winning every time you are. Write them into your budget on day one and you are starting out with a Heavy Hitter on your team interested in your success.

Sounds good, you know any good ones?

0 Votes

Los Angeles County, California

Quote from @Alex Ng:

Hi im looking to flip houses here in SoCal. I've been having trouble finding deals. All the wholesalers I've been finding work for either Fair Trade or New Western. Is the market too oversaturated? Why is it so hard finding a deal here? Where can I find proper leads or wholesalers? Should I contact agents instead?

Have you found anything out yet?

0 Votes

Los Angeles County, California

All Forum Posts by: Account Closed

Account Closed has started 28 posts and replied 114 times.

Post: fix and flips still possible in southern california with todays market?

Post: fix and flips still possible in southern california with todays market?

Post: Choosing the right market to start

Post: Choosing the right market to start

Post: Choosing the right market to start

Post: Choosing the right market to start

Post: BRRRR in SoCal

Post: Flipping homes in Los Angeles

Post: Flipping homes in Los Angeles

Post: Where to find deals in SoCal?