Flipping properties from Craigslist. Possible?

Has anyone flipped properties that were found on Craigslist? Is finding properties to flip off the internet a bad choice? I mean there is not much a person could do to advertise the property seeing that the property was found on the internet in the first place. Right? I admit there were times I have been tempted to find deals on the internet I could get under contract, but I never did it.

Nathan Emmert

Multi-family Investor · South Jordan, Utah

786 posts
5 awards
78 influence

Dec 06 '11, 03:26 PM

Anything's possible though you'll have a harder time getting the deals you need. Someone on CL is actively trying to sell their property. Having applied a little bit of energy, they probably expect higher returns. Those returns eat your profit as a flipper. If someone were truly desperate to sell, I don't see them posting on CL to find a buyer.

Johnny P.

Real Estate Investor · Orlando, Florida

153 posts
3 awards
50 influence

Dec 06 '11, 03:29 PM

When I started I found ONE property on CL that I actually flipped. I noticed it was only posted by the seller one time and they didn't know how to post a picture on the ad. So yes it is possible, however, I spent tons of time searching CL to find one small deal. Not worth the time for me because my area is bombarded with CL ads daily. Might work better in a smaller town with less wholesalers and less CL activity.

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Dec 06 '11, 04:26 PM

How are you finding your deals now that you are no longer using CL? We have a few wholesalers in my area, but not like a ton of wholesalers posting on Craigslist.

Originally posted by Johnny P.

When I started I found ONE property on CL that I actually flipped. I noticed it was only posted by the seller one time and they didn't know how to post a picture on the ad. So yes it is possible, however, I spent tons of time searching CL to find one small deal. Not worth the time for me because my area is bombarded with CL ads daily. Might work better in a smaller town with less wholesalers and less CL activity.

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Dec 06 '11, 04:31 PM

I don't want to fool around with anything that will eat my profit.

Originally posted by Nathan Emmert

Anything's possible though you'll have a harder time getting the deals you need. Someone on CL is actively trying to sell their property. Having applied a little bit of energy, they probably expect higher returns. Those returns eat your profit as a flipper. If someone were truly desperate to sell, I don't see them posting on CL to find a buyer.

Carlos F.

Real Estate Investor · Dallas, Texas

403 posts
11 awards
62 influence

Dec 06 '11, 08:24 PM

Two things come to mind:

1) steadfastness/resolve of the seller - you can usually get a better deal once the seller gets discouraged.
2) your buyers - where do they get their deals? Some are technically challenged, some think CL is full of scammers and won't frequent it, etc.

Mark Yuschak

Rehabber · Grand Blanc, Michigan

Pro Basic

773 posts
10 awards
61 influence

Dec 07 '11, 04:57 AM

I've gotten one acquisition deal from CL. It was actually almost a year ago to the day. I bought it from an out of town investor for $2,000 who had bought it for $1,500 from HUD. After closing I had about $3,000 into it. A week later I sold it for $6,000 on a QCD.

Wasn't a home run deal, but $3,000 more than I had!

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Dec 07 '11, 06:33 AM

What is QCD?

Originally posted by Mark Yuschak

I've gotten one acquisition deal from CL. It was actually almost a year ago to the day. I bought it from an out of town investor for $2,000 who had bought it for $1,500 from HUD. After closing I had about $3,000 into it. A week later I sold it for $6,000 on a QCD.

Wasn't a home run deal, but $3,000 more than I had!

Danny Day

Rehabber · Houston, Texas

369 posts
3 awards
59 influence

Dec 07 '11, 06:45 AM

Quitclaim Deed

Sherry Lewis

Rehabber · Fort Walton Beach, Florida

Pro

240 posts
4 awards
50 influence

Dec 07 '11, 07:01 AM

Now I kind of understand why my listings on Craigslist don't get a lot of action. The ones I have in Michigan get inquiries, Cleveland only 1 in 2 months. If you are listing wholesale deals on Craigslist, what would you suggest about titling them to make it easier for the investor/rehabber to pick up on thru all the other listings?

Sherry Lewis, New Days Real Estate Investments, LLC
E-Mail: workingtogether@newdaysrei.com
Website: http://newdaysrei.com
Sherry Lewis "Planning Today for the Future" workingtogether@newdaysrei.com

Danny Day

Rehabber · Houston, Texas

369 posts
3 awards
59 influence

Dec 07 '11, 07:05 AM

I search Craigslist for rehab deals for the words CASH ONLY. Thats a good sign I'm interested. I do not want to compete with FHA and conventional buyesrs.

Handyman special, Cash Only, Investor Special, Investor Only are all good keywords to have.

Greg P.

593 posts
6 awards
62 influence

Dec 07 '11, 07:21 AM

We just completed a 25k flip profit and in the middle of a 50k flip on craigslist. It works.

Sherry Lewis

Rehabber · Fort Walton Beach, Florida

Pro

240 posts
4 awards
50 influence

Dec 07 '11, 07:58 AM

Thank you Danny. I will re-do my listings with your suggestions!

Steve Sparks

Real Estate Investor · cincinnati, Ohio

199 posts
3 awards
50 influence

Dec 07 '11, 08:15 AM

I have bought and sold dozens of houses on CL.. Funny how everyone's experience is different.

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Dec 07 '11, 08:05 PM

Where do you advertise the wholesale deals if you bought the property from Craigslist where every other investor already saw that same property on Craigslist?

Originally posted by Greg P.

We just completed a 25k flip profit and in the middle of a 50k flip on craigslist. It works.

Greg P.

593 posts
6 awards
62 influence

Dec 07 '11, 09:23 PM

We bought it then sold it on the mls, with just a little bit of clean up. If you have any other questions let me know.

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Dec 07 '11, 10:29 PM

So if I was to find a property on Craigslist I may want to get under contract then post that property on another site different from Craigslist, that would be ok?

Originally posted by Greg P.

We bought it then sold it on the mls, with just a little bit of clean up. If you have any other questions let me know.

Carlos F.

Real Estate Investor · Dallas, Texas

403 posts
11 awards
62 influence

Dec 08 '11, 01:07 AM

You can put it back up on CL. Ensure the seller deletes their listing, and you write a new improved ad with different pics. Some people might recognize it. Hopefully you're offering it at a better price if you're just wholesaling it, and not doing any work to the property.

Greg P.

593 posts
6 awards
62 influence

Dec 08 '11, 08:14 AM

Yes, you can do that, but I would only if you truly bought it first. If you have it tied up through direct mail then it wouldn't matter if you posted it on craigslist, but I wouldn't recommend posting on craigslist if you got it through craigslist. If you don't have cash, then make a strong buyers list and start making calls to potential buyer. Hopefully you can put a lockbox on it or there's one already there. Gl

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Dec 08 '11, 08:47 AM

Thanks. New ad would work. New improved pics may work only if the seller has not taken pics of the entire inside and outside of the house. I don't have a lot of money for marketing like direct mail campaigns and posting bandit signs all over the city looking for buyers. That is the only reason why I was considering finding homes off the internet to get under contract.

Originally posted by Carlos F.

You can put it back up on CL. Ensure the seller deletes their listing, and you write a new improved ad with different pics. Some people might recognize it. Hopefully you're offering it at a better price if you're just wholesaling it, and not doing any work to the property.

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