All Forum Posts by: Melissa Ewbank

thanks @Peter K. I missed the SF meetup that was this week, but will definitely try to make the next one. Im eager to meet some locals in the biz.

@John - thanks for your insight. YES, so many variables. The market here in the Bay Area is competitive and pricey, so one of my concerns is would I even be able to find 3-4 additional flips. The more I'm writing about this the more I'm finding the answer is to do the live in deal. I'm looking at a purchase price around $400K, reno costs of $50K, and an ARV of $550-$600K (probably closer to $600K if we are there for a year)....with the added benefit of no capital gains.

@David - thanks for the info. My husband and I were living in the city but recently made the move east to Oakland, but it's a similar situation over here (albeit cheaper)...finding a property is a challenge, making this one in particular a little more enticing.

@Sam - my situation sounds pretty close to yours, my husband, our 8 month old and I would be living in it. Although I'm thinking of trying to do the Reno before we move in (or at the very least the major stuff).

@Arissa, that's exactly the position I'm in.  We would be "OK" living there for a year, but not where we would want to be long term.  And it definitely will need some work to be livable.  What did you do when you left that property?  Did you buy another property for yourself or rent and continue flipping?  Or do another live in flip?

@David - are you flipping in SF? 

Interested to hear what some experienced flippers would say about living in your first flip.  Yes?  No? 

I'm looking at a potential REO property as my first flip, however the bank has a requirement that the new owners live in the property for a min. of one year after purchase. There is a ton of upside on the property but wondered if I would be better served trying to do a couple flips in the year to hopefully net the same profit.

hi Rajesh,

I'm also in the Bay Area and am looking to start a fix and flip business. What cities are you looking into?

Cheers,

Melissa

I don't have any tips but I'm interested in hearing people's feedback. I posed a similar question the other day and didn't get much of a response. Hope you have better luck!

I'm in the SF Bay Area and the market is really competitive here as well, lots of all cash offers.

New to BP and I'd love to hear from some experienced flippers on how you got started.  Was your first purchase all cash?  Financed?  Do you work with private investors?  In your opinion what is the best strategy for flip #1.

I'm in the Bay Area, CA (East Bay) and I've quit my day job and am devoting my full attention to getting my fix & flip business started (Yikes!)

Please, flood me with your knowledge & expertise...