What is your take on the Lancaster market? I understand there is a retiring community there. What is the best types of properties to buy out there? I don't have much capital though.
Is it a good idea to flip already flipped houses? How can I buy off-market properties that can be reonvated and flipped easily in Lancaster, CA? Do I just send mail to all the city residents telling them that I want to buy? How do I get a list of owners for all the properties there?
++ Subscribing to this thread as well.
I am interested in learning more about the Lancaster market. See some potential flip opportunities there from time to time.
Any BP-ers familiar with that city?
@Dan Bee I am very new to REI but Listen to Podcast 081 it tells you how to advertise to look for sellers. I can tell you that I started doing maybe close to 1 month and 3 sellers contact me and i viewed 3 properties. I was able to propose 1 seller an offer but she rejected because she wants market price. If your really looking for a deal you might want to network with people from REI clubs.
I Live and work as a Realtor in the Lancaster/Palmdale area. I would be happy to answer any questions you might have. There are some very successful flippers in this area so it is definitely a possibility, although, it seems that the most consistently profitable investors do rent and hold. This is also a great area to house hack in a multifamily if you don't mind living in the desert... As far as contacting owners, I use property radar to research properties. Mailers will get responses but at a very very low percentage. The best way to get a response is to meet face to face. Its also much easier to find deals by driving neighborhoods and spotting deals than it is to find them online, but both ways do work...
If you ever want me to show you around the Antelope Valley so you can get a feel for the better investement areas Just let me know:-)
@Dan Bee undefined
Interesting article in the LA Times today. I know the AV is pretty famous for buy and holders. I like it better for lower crime vs Bake generally and those 200,000 aerospace layoffs are a thing of the past. What do you think?
"Antelope Valley housing market feels like the early 90's again"
I think they are way off with this article. New home building out here is still nowhere close to where it used to be but our market has been slowly and steadily increasing for quite a few years. Which is better for long term health anyway. If you pick out certain months you can really make the numbers look bleak. And they are obviously picking out certain times to do that such as "Housing starts dropped nearly 33% from 2005 to 2006". I don't know why they would include "stats" from 05-06 in an article about what is allegedly happening in the market today unless they are just looking for stats that match what they are trying to portray.
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