anyone flipping apartments in so cal??

8 Replies

hi bp fam, im in so cal doing a lot of wholesale deals in the IE and LA county and recently flipped a 7 unit apartment complex in long beach...the lead was a referral but the deal went so well now its got me wanting to do more apartments! im just wondering if there is anyone here in my area doing this or if there is  anyone out there direct mailing to nothing but multi fam?? and if so what kind of mail pieces?? is it the same old post cards or different strategy ??? 

I know a couple who do, but they usually take 1-2 years to actually flip, the NOI is the bottom line, improving them will drive the price up. But mind you, these owners are normally investors so put the thought of mind gaming to a homeowner out.

@Manolo D. Thanks for the reply, I did a whole-tail deal on some apartments in LB i did a double escrow and closed them a few days apart...I think I'm going to start marketing heavy for those type of deals and see what I can do

@Kristopher Gomez Not that well versed but I thought you flipped an apartment, by your second post, it seemed like you were only wholesaling it.

@Manolo D. I bought it wholesale and sold it retail without rehabbing it they call that "wholetail" there's big profits in those type of deals.

@Kristopher Gomez I was misled by your initial post you said “I flipped” meaning you have done rehab. Disregard all my posts, it doesn’t apply.

Sounds like you wholesaled most people on here refer to flips as a property that you purchase, add value and then sell. 

I get what you mean (what you did was a bit different because you did buy the property...and other wholesalers actually buy properties also (bigger co's).... with the 'wholetail', but good job!

My partners and I are. All of our deals have been brought to us through brokerage relationships. We have bought 16 in the last 18 months. 

Hi Kristopher, I am a active  investor and  in So Cal (18Y). I do sale RE at wholesale price (sfr, land, residential units and sometimes appartements Building) to investors when i have too many projects.   I also buy wholesale deals from other investors or wholesaler.    Most deals are relationship based for me.  .  I think Justin Williams do coaching and program on flipping that involve mailing, it is house flipping but probably similar, in IE you may want to check Bruce Norris, they do lots of mailing for their acquisition deals, they have seminar and have some course..   I have some buildings and get contacted all the time by brokers having retail buyers, it looks like apartment is  a high commodity. Good luck. 

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