I just cant find deals to flip

General Real Estate Investing
4yFollow

I just cant find deals to flip

Mike Bloom
Member since 2022 · 15 posts · 4 votes

I cant find any deals to flip, most homes which hit the market are so over priced like 10-20% (Houston, TX), they need very less or no rehab and cant be sold for a profit. Should I get MLS? would that help? I need some advice. where can I get deals?

1Reply
18 views

Most Popular Reply

Joshua JanusBusiness Member
Realtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
4y

@Mike Bloom It is difficult to find fix/flips in markets that are so appreciation heavy. Look outside o Houston if possible and find opportunities in more tertiary markets. 

[email protected]614-502-5316Podcast Guest on Show From DoorDasher to $1.5 MILLION in Real Estate (All at 22 Years Old!)
2Reply
See this reply in the discussion

7 Replies

Jump to latestLatest
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    4y

    First, you need to change your market.  Next you need to learn how to analyze markets (not properties) or you'll never find the properties you're looking for.

    0Reply
  • Bryce Axelrad
    Lender · Houston, TX · Member since 2019 · 17 posts · 7 votes
    4y

    Hi Mike! I'm also in Houston and it can be tough to find the deals, but I guarantee they can be found. I'm extremely conservative on my numbers and so I pass on a ton of deals but I do find them here. Yes you should get MLS or work with an agent like me to set you up for targeted auto emails. Also, work with local wholesalers, go to auctions, learn about driving for dollars, etc. The best deals take some leg work in the beginning to make happen. I've gotten good deals on the MLS but most come from off-market networking.

    0Reply
  • Joshua JanusBusiness Member
    Realtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    @Mike Bloom It is difficult to find fix/flips in markets that are so appreciation heavy. Look outside o Houston if possible and find opportunities in more tertiary markets. 

    [email protected]614-502-5316Podcast Guest on Show From DoorDasher to $1.5 MILLION in Real Estate (All at 22 Years Old!)
    2Reply
  • Eric GoldmanBusiness Member
    Lender · PA · Member since 2019 · 359 posts · 192 votes
    4y

    market is rough right now. get on wholesaler's lists! 

    484-574-4878
    G2loans- Investor and Commercial Mortgages531 Reviews
    WebsiteView Page
    0Reply
  • Michael Dumler
    Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
    4y

    @Mike Bloom, this is why many successful investors put in the work to acquire off-market deals or at the very least work with individuals who source deals directly from the seller. I advise that you start attending your local REIA meet-up to establish connections with wholesalers, agents, and other investors. Word of mouth can be a powerful tool, but don't merely tell people that you're looking for a "deal." Get extremely specific on your criteria when sharing your investment strategy with other vendors so that they are crystal clear about what you are looking for. Hope this makes sense and helps! Easier said than done, so now it's time to put in the work.

    0Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    4y
    Quote from @Michael Dumler:

    @Mike Bloom, this is why many successful investors put in the work to acquire off-market deals or at the very least work with individuals who source deals directly from the seller. I advise that you start attending your local REIA meet-up to establish connections with wholesalers, agents, and other investors. Word of mouth can be a powerful tool, but don't merely tell people that you're looking for a "deal." Get extremely specific on your criteria when sharing your investment strategy with other vendors so that they are crystal clear about what you are looking for. Hope this makes sense and helps! Easier said than done, so now it's time to put in the work.

    Actually, this is why they don't count on these sources for their success.  This is why they learn how money works, learn how to analyze markets, and develop their own strategies that allow them to recognize opportunities and be able to take advantage of them, instead of trying to compete with all the other REI out there finding the same properties, and ending up with the inevitable bidding war destroying that property's deal.
    0Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    4y
    Quote from @Mike Bloom:

    I cant find any deals to flip, most homes which hit the market are so over priced like 10-20% (Houston, TX), they need very less or no rehab and cant be sold for a profit. Should I get MLS? would that help? I need some advice. where can I get deals?

    Hi Mike, 
    I encourage you to look at other markets. Personally, I have been very happy with the Ohio market. Because of the affordability, great neighborhoods and schools, and good night life, Columbus has attracted a-lot of businesses to setup shop, hence the increase in population over areas like Cincinnati and Cleveland.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free