Flipper/Rehabber · Colorado Springs, CO · Member since 2016 · 502 posts · 167 votes
Ready to make offers on fixers: SFR, duplex, triplex, 4plex. Prefer north of Fillmore but will also be serious about downtown, 80909, etc. Wholesalers --we have %down & high credit score. (This form only allows either SFR OR commercial.)
We are definitely in a hot market. I've written eight offers since Monday and every property has had a minimum of five competing offers for well over list.
The offer I wrote today (1045 Peterson) had ten competing offers, and the listing agent said that's only because he was telling people he already had so many offers that they didn't need to write one unless it was for well over list. This is all on rougher, less expensive, investor type properties, but the other brokers at my firm have had a similar experience with traditional purchases.
Please e-mail me the criteria of what you are looking for and I'll see if I can help. I often have access to off-market and multi-family as well: [email protected]
Hi Jane. Thanks for posting. I don't know your experience level but, since you mentioned wholesalers along with having a down payment and high credit score, little of which matters in this segment I must ask, are you also a cash buyer or do you need private/hard money to fill the gaps? Are you looking to flip or buy and hold?
Like JD said, with the sales to list price ratio at 100% or better since Apr 2016 and its 2 month supply of inventory, our (seller's) market is hot indeed. And with that comes the reduced purchase equity and/or cash flow which investors love so much :) so again, be prepared for many, many times at the plate, especially if seeking 1% rent to sales price ratios (they're averaging .7%), large purchase equity when properties are selling above 90% ARV at foreclosure auction, 10 Caps and other elusive metrics in such markets. In other words, be prepared for home runs while happy with base hits.
Despite appearances, I don't say this to discourage but to help set a reasonable expectation for what you'll find while searching for the perfect investment opportunity but, they're certainly out there so...strategize, analyze and execute!!
Wishing you all the best, please know I am standing by to be of service.