flipping houses in Miami??

Question

Hello everyone! I am currently not living in Miami but I enjoy keeping up with the market trends and conditions.

I am curious if there are still profitable deals to be made in regards to fix and flips with home values being so high.

is the best way to find a good deal through a wholesaler/off MLS? Or look for foreclosed-bank owned properties?

thank you!

Laura Alamery · Answer

@Marlon Thomas As far as finding deals, the more clever investors win. :) With that said, I find all my deals off the MLS. Approaching aging home owners, out of state ("snowbirds") and tax delinquent properties are some of my strategies right now in Miami.

Yes. There are still profits to be made. I cherry pick my fix and flips, and wholesale or assign the rest.

Samuel Awosolu · Answer

@Marlon Thomas

There are profitable deals everywhere. Regardless of market conditions. Like @Laura Alamery said, "the more clever investors win".  One thing I've realized that remains constant in any market. There are homeowners that will always need to offload property due to job loss, divorce, death in the family, bankruptcy, etc. This will not change. How you get access to these types of properties will depend on your "cleverness" and ability to hustle. There are plenty of smart people in this forum. So finding techniques to get these deals shouldn't be a problem.Good luck!

Marlon Thomas · Answer

That's interesting. I am considering on moving to Miami in the next 2-3 years or so (not sure how the market will be then) but I look forward to possibly continuing my real estate career there! I see that you're also a mentor, maybe I should stay in touch with you because a will defiantly need a good mentor in regards to learning how to flip homes in regards to living in Miami.