New Investor from Louisville, KY

[Tara Harris]

Hello! My husband and I have recently started an LLC with the goal of REI. We have already purchased a rental property (duplex) and are currently searching for our first house to flip (SFH). We seem to be having a hard time finding one that fits in the numbers and has good comps. It's been a month of searching and we thought we found the one this week only to find out when we put an offer in that it is already under contract. We will soon start some marketing efforts to try to find houses before they go on the market. We would love any advice/tips on marketing and/or finding good properties. Thanks!

[Erik Hitzelberger]

Hi Tara,

Congratulations on getting started!!

Where are you looking? A couple years ago, you could pull up the MLS, search in whatever zip code you wanted and find a house to flip. This is no longer true in most parts of town. (Or you have to be very quick and accept thinner margins). That being said, it can still be lucrative. All of the traditional marketing methodologies (bandit signs, direct mail, networking with wholesalers, etc) work if you put the time and effort in.

Feel free to contact me directly if you have specific questions. The REI community here is very friendly and very helpful.

Erik