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Updated about 1 year ago on . Most recent reply

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James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
322
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How many properties do you flip simultaneously

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

I have flipped four houses to date and typically look for properties that guarantee a healthy margin. Sadly, wholesalers have been bringing deals where one cannot make say $100K a flip but rather a number much smaller requiring me to do flips in volume. What has been your experience?

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Matthew Crivelli
  • Lender
  • Massachusetts
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Matthew Crivelli
  • Lender
  • Massachusetts
Replied

@James McGovern

I would stick to your guns and only purchase the property if it's a good deal. I don't think making less and doing more is the answer. It just opens the door up for problems and these problems could sink you if you are over leveraged. (Say having 4 bridge loans out at once) 

Maybe trying a direct mailer and see if you can get a property under contract without a wholesaler bringing you a marked up deal? (This is what a wholesaler is doing) I know this is a huge issue the CT market right now. Very hard to find the right deal. 

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