All Forum Posts by: Melissa Ewbank

I'm working on a place in Concord right now and I just got a quote from Cornell Roofing, I've also gotten good recommendations for Walnut Creek roofing and Lafayette roofing.

Where is your flip?

Las Vegas is likely much different than my market (Bay Area, CA), but properties here are generally listed on a Thursday after which two weekends of open houses are held and following that offers will be due on Tuesday. Competition is fierce here though and we have multiple offers on almost every property. Might be worth trying this tactic if you can stand to hold the property for two weeks, though I wouldn't recommend staying on the market for 30 days.

Hi BP community, wondering if there are any flippers out there that flip outside the market they live in (like out of state, not just another city). If so, how did you get started and how do you manage?

I currently live in one of the most expensive real estate markets and have been looking for my first flip (rather unsuccessfully) for months now. 

Thanks in advance for any thoughts.

Melissa Ewbank

@Brandon Turner is your place in Montesano? I'm in Northern Cal but originally from Shelton and I've got a family friend that does foundation work there. Let me know if you'd like his contact info.

@Account Closed I've done one live in extended flip in Southern California and I've been hunting for my first flip in the Bay Area for a couple months. Competition is fierce around here with every property getting 10-20+ offers.

In my opinion, it completely depends on the area you are investing in.  Where I'm at in the Bay Area, big money deals are easier to come by as there is less competition for these properties.  But in some areas, higher end homes sit on the market for much longer as again there are fewer buyers for this type of home.  You need to play to the market you are working in.  

Good evening BP,

I'm hoping some of you might have a good reference or two for a CPA in the Bay Area, CA (Oakland would be even better) who has experience working with real estate investors.

Thanks in advance!

Melissa

my suggestions would be to add a small porch and then as someone else suggested paint with contrasting trim, possibly dark red colored door. Also remove the front bushes and replace with picket fence.

Good luck!

Thanks @CK Hwang!  Your 2nd point has been our biggest question, we like where we are at now and moving into this "flip" would then require us to find another place to live post fix.  So, as you said we would be stuck back at square one.

Thanks @J. Martin, all the exact questions we are pondering. My true desire is to fix and flip, quite honestly we like where we live now and it would be a major PITA to move...but I see so much potential in the house. It's in a HOT neighborhood, so if we sold right after the year there's bound to a solid profit. Even better like you said hold and rent and watch the property appreciate over time. My fear with that is we would be sinking a large portion of our funds into one property rather than spreading it out between multiples. 

You have East Bay experience, right? If it was you, what would you do? Buy one property in Oakland (Maxwell Park), or buy 2-3 properties in say Richmond, San Leandro, San Pablo areas?? I'm very familiar with the Oakland market but still need to do my due diligence on the outer markets as I'm not as familiar with them...