Looking for my first deal for fix and flip or potential SRT
Im a contractor in the orange county area with a proven tract record of remodeling and building residential home for many years. I want to slowly transition my business into buying below market deals to renovate and either sell or SRT in the CA desert or in or around the Phoenix area. I would appreciate to hear anyones advice or projections in those areas. Also, I'm looking to make connections with agents and investors alike. I can do any part of the Construction work, but the other parts of the deal are not in my area of expertise.
Hi @Ryan Jackson ... congratulations on your first post and on being a contractor. A very valuable skill to bring to the equation.
Interestingly, Metro Phoenix is one of the most active wholesaler markets in the country. Many of the big names in wholesaling are based here, people like Sean Terry and Pace Morby and Jamil Damji and Brent Daniels. The last 3 have a ton of free content on YouTube, etc., if you want to see what they're teaching and doing.
We are back to a low inventory market now with just 12,676 active listings across all categories (from mobile homes to mansions). Some listings, the freshly remodeled ones or the true fixer upper/flips, are attracting multiple offers.
Combing the MLS for properties that have 90+ days on the market is one way to find sellers who may be getting more motivated by the day.
Since our market is different depending on what corner you're standing on, knowing what price range you're hoping to start at would help. I'll share any insight on that segment of the market that I can to help you get started.
Melanie
-
Real Estate Agent Arizona (#558724000)
- Realty ONE Group
- 480-241-0241
- https://melaniejohnston.com
- [email protected]
Quote from @Ryan Jackson:
Im a contractor in the orange county area with a proven tract record of remodeling and building residential home for many years. I want to slowly transition my business into buying below market deals to renovate and either sell or SRT in the CA desert or in or around the Phoenix area. I would appreciate to hear anyones advice or projections in those areas. Also, I'm looking to make connections with agents and investors alike. I can do any part of the Construction work, but the other parts of the deal are not in my area of expertise.
Hey Ryan! Nice seeing you on here and hearing a little bit of your story!
For the CA deserts, you have two challenges, one is that they either flooded with inventory so the returns are not as amazing as they were, or they are very expensive with tight regulations. If it were me I would go towards the tight regulation areas and get one that is already an Airbnb to transaction to you. The other option on this in the flooded markets, you buy something very cheap and rent it out knowing the returns will be a little more up/down compared to the higher end markets.
