Throughout most of the country, prices are rising, and investors are scrambling to find deals. My market in Colorado is no different, with prices rising 20 to 40 percent over the last two years.<\/p>\n
Investors have come back in a big way since the housing market recovered,<\/strong> and it is definitely harder to find deals. However, I have still been able to buy fix and flips and rental properties in a very competitive market. I have no secret ninja techniques to find deals; I simply used solid fundamentals to buy properties well below market value.<\/p>\n If you read my recent articles about contractor problems,<\/a> you will see it has not been smooth having ten flips at once.\u00a0However, I think I have greatly improved my business by having this many flips.\u00a0I have added three contractors and started using an old contractor again who used to work with me.\u00a0Having that many contractors will make my job so much easier, especially once I get caught up on all these houses.\u00a0I have decided not to start my own contracting company yet, but that may be a future move.<\/p>\n The good news is three of my flips are on the market and under contract with closings all happening in October.\u00a0I promised myself I would not buy any more flips or rentals until I sold some properties, but I just got a new one under contract yesterday! I decided it was okay to buy another since a couple of my current flips will be closed soon.<\/p>\n Nine of my current flips were bought off the MLS, and one was through direct marketing.\u00a0There are still deals on the MLS,<\/a> no matter what anyone tells you!<\/p>\n You have to act very fast, and in some cases be willing to do a lot of work, but the deals are there.<\/p>\n Here is a list of my last ten purchases and how I bought them.<\/p>\n Related:<\/strong> My First Flip & Fix: Termites, Hauntings & A Foundation of Dirt<\/a><\/em><\/p>\n This one I found through direct marketing<\/strong>. I have been sending hundreds of letters a month to probates and absentee owners.<\/p>\n This was a\u00a0traditional sale on MLS<\/strong>. The home was built in 1857 and needed a lot of work.\u00a0The buyers knew it needed work and liked my cash offer enough to close in 15 days with no inspection.<\/p>\n There were multiple offers, and I got the home $10,000 below list. It is being repaired now and should be on the market in a week or two.<\/p>\n This house was a short sale<\/strong> built in the 1940’s on MLS. I had made an offer on it after another highest and best.<\/p>\n The bank approved my offer in May, and we closed in June.\u00a0The house is almost ready to be listed and was bought $3,000 over list.<\/p>\n This house was a traditional sale owned by an investor on MLS<\/strong>. The owners were going to flip, but ran out of money.<\/p>\n I made a cash offer hours after it was listed, and they counter me and I accepted $15,000 below list.\u00a0 House is gutted and sitting there waiting for a contractor to free up.<\/p>\n This house was for sale on MLS\u00a0as an REO<\/strong>. It was priced super low, and I made an even lower offer.\u00a0They asked for highest and best, and I made my cash offer with no inspection a couple thousand below list.<\/p>\n I could not believe I got it.\u00a0Work is starting Monday on this one.<\/p>\nHow Can I Handle 10 Flips at Once?<\/h2>\n
How Have I Been Able to Find Fix and Flips?<\/h2>\n
My Last 10 Purchases<\/h2>\n
House #1<\/h3>\n
House #2<\/h3>\n
House #3<\/h3>\n
House #4<\/h3>\n
House #5<\/h3>\n