To all the flippers out there, what are you seeing in your markets?

[Alan Asriants]

I am always looking at flipping opportunities but have been really skiddish due to the uncertainties in the market right now. On the one hand, in my market (Phila), well rehabbed and well priced listings are selling at steady prices, in some cases for even more. I do feel like timing is extremely important because buyers are so sensitive to interest rate trends. You put your house up when rates dip - you win, you put it up when they spike - it cuts into your bottom line. I am making offers, but I would say they are offensive. I don't want to find myself in a position 6 moths later with no equity. What are you guys seeing? Are you accounting for more risk when making offers? 

[Scott E.]

There is WAY more inventory in my market... something like 4x the available homes compared to just 1 year ago.

But what I'm seeing is that there is very little quality inventory. A lot of people are throwing their homes up for sale to see if they can get those sky-high 2021 prices. But nobody is paying those prices anymore, because most of these homes are gross and dusty.

If a very nicely finished house flip or spec build hits the market in a prime location, those deals are still selling.

So now more than ever these 2 things are very important for house flippers:

1. Location, location, location

2. Hire a designer