What's the Most Offers You've Gotten on a Flip

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What's the Most Offers You've Gotten on a Flip

Derek T.
Real Estate Investor · Prince Geroge's County, MD · Member since 2012 · 392 posts · 104 votes

I currently have a flip on the market with 4 offers on it (all FHA so I'm trying to get them to switch before we accept one). I don't think I've ever had more than 4-5 offers on a property. I would like to think I do a good job as most of my houses are under contract within 2 weeks, but it seems like my ratio for show to offer is 7:1. What's the most you've had and what is your show to offer ratio (how many shows to get an offer)?

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  • Ed Jaroch
    Dillsburg, PA · Member since 2009 · 2 posts · 0 votes
    11y

    Derek,

    I only flip a few homes per year, I think the number of offers was three but one of the group had contingencies so I think I would count me as two quality offers in the first few days after listing.

    I list my properties with a Realtor / partner and while I do get email alerts when showing are set up I do not track that metric.  My focus is on receiving an actual offer.  My goal is to come to terms with the first / best offer when ever possible.

    Hope this helps with your question / data collection.

    Ed

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    3 to 4...

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  • Dell Schlabach
    Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
    11y

    We have had a couple threes, that's my max. 

    I don't track showings to offers ratio, its all over the map depending on the house. 

    Couple recent examples....in order

    Oval Rd, four showings first weekend = one full price offer -3,500 closing cost contribution

    Ranfield Rd,  four showings first weekend = three offers,contract 3k above list.

    Oak Point, 12 showings over three weeks  1 offer, contract 5k under list

    Main,  13 showings two weeks, one offer, contract 18k below list

    Twinsburg, 4 showings three offers first weekend, contract 11k over list

    Then a rehab affiliate we source all his deal for with similar stats as ours, has the infamous  Galloway house, 40 + showings in seven month 100,000 total price drop, no offers, kinda messes with the stats :-(

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  • Cal C.
    Investor · Peachtree Corners, GA · Member since 2014 · 1k+ posts · 1k+ votes
    11y

    I think about 7, hey when Carol Scott is your realtor you have to expect great things.  I believe I had 3 full priced or better offers but all with financing.  The appraisal came in more than $20k less than asking price.  Fortunately, the hedge funds et al had just come in so Carol was able to get a great cash offer!

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