Goodmorning. I am currently new to the real estate business and am looking to learn as much as possible. I have a question on the current state of the market for wholesaling/flipping. I understand that in the recent years flipping/rehabbing has become a craze and I just want to know what type of current oppurtunities you guys believe are out there and what you think the market will be like in the next year? I understand this may depend on location ( im in upstate new york ). Please keep me posted. Or if you have any articles/blogs/forum posts to reference in which I can read. Any thing would be greatly appreciated.
Depends on the market. In hot markets like California, you can't throw a rock without hitting an REI or wannabe REI. Depressed markets tend to have more opportunities IMO. In the Bay Area volume is 1/10th of what it used to be, if that. There's always something out there if you know what to look for.
The market again is something that's entirely local. My Bay Area market looks nothing like your upstate NY market. All market values are based off of age of housing stock relative to population, land available to build, median income, and interest rates. Cities without much space to build (Miami, San Francisco, Los Angeles, Honolulu) will probably see a bit of a downward price correction whenever interest rates go up.
If you're looking for meta-market analysis, the Calculated Risk blog is a good read.
Thanks for the response and information Juan. I am going to take a look at that blog and see what its all about. I just want to have a better idea because I want to take action as soon as I can.
You'll get better responses if you ask very specific questions instead of broad ones. Search through the forums and you should be able to find a lot of answers to what you're looking for.
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