Looking to do my first flip
Hello, my name is Dillon Tweed and I am new to real estate investing. I am 22 and looking to do a fix and flip or a live in flip if I get the opportunity. I have been doing construction/ contracting work since I got out of high school, and now work doing HVAC full time. I would greatly appreciate any advice on how house flippers in the area are coming across good properties, specifically which areas are people having the most success flipping homes, and just some over all advise.
Anything is appreciated, Thank you.
@Dillon Tweed- Hi, hopefully someone from your area comments! I will say what I have seen across the board is many people finding deals on the MLS. There seem to be more sellers willing to have conversations that they would not have been willing to have a few months ago. If you are not already connected with a real estate agent that is a great place to start! They may also know of off the market properties. Good luck!
Congratulations on starting Dillion! I work directly with off-market properties which tend to be great for fixing and flipping! Would love to connect and share some knowledge on how I find them. Feel free to send me a request and we can connect!
Dillon, flipping in this changing market can be tricky as there will likely be more inventory coming on the market soon with sellers willing to negotiate. Just make sure your projected profits are calculated conservatively and be ready for the property to sit on the market for a much longer time than you might be used to before it sells. Good luck to you!
Quote from @Dillon Tweed:
Hello, my name is Dillon Tweed and I am new to real estate investing. I am 22 and looking to do a fix and flip or a live in flip if I get the opportunity. I have been doing construction/ contracting work since I got out of high school, and now work doing HVAC full time. I would greatly appreciate any advice on how house flippers in the area are coming across good properties, specifically which areas are people having the most success flipping homes, and just some over all advise.
Anything is appreciated, Thank you.
You may want to consider how I started over 20 years ago and am still doing today. I now own a nice portfolio of income producing real estate – virtually all of it purchased with cash by flipping mobile homes in mobile home parks. Why this unusual business model?
High profit margins! Consistently between 50% and 200%. Examples: 1) $8,000 total investment, sold for $24,000. 2) $20,000 total investment, sold for $40,000. 3) $60,000 total investment, sold for $95,000. 4) $100,000 total investment, sold for $160,000.
Most investors have no understanding of how or why this unique housing niche works the way it does. There are several unusual factors that make this possible. Mobile homes are considered personal property, not real estate. They are bought and sold quickly and easily - just like a car. Misconceptions and myths keep competition almost non-existent. The business model works the same way in 49 states (no mobiles in Hawaii).
I’m a big fan of real estate and BiggerPockets. I’m also a big fan of having a method to accumulate nice chunks of cash, rapidly, without borrowing (especially hard money).
May you have Great Fortune in your Endeavors!
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
A lot of ways, pull lists of motivation and cold call. Door knock, bandit signs, realtor connections