Are Investors Still buying?
Hi. Are investors buying in 2023? I want to wholesale SFR's in all of California. I don't want to waste advertising funds if the market is down.
Look, you are asking for a hard and fast number or range and I (and others) will tell you - IT DEPENDS. Here in NE PA, what we pay for houses is a fraction of what many areas of CA pay for a tear down. I would love to make a minimum of $50K on a deal but not in our market. We moved from Jackson, MS and you were lucky to make $30K on a deal.
So your last post saying how no one answered your question and were rude without having provided any of your backstory initially got you the responses you did and can pretty much not get you what you want in the future. The BP family is a great resource but since you are a new member, is that how you introduce yourself at a new job or get together?
Even in CA, SFRs range from $150K to millions . . . . so $50K on a $150K property would be a great return . . . on a $1,000,000 property, not worth getting out of bed.
A better opening may have been to provide your backstory and the price range you are looking to focus on. That would give others a better idea of what makes a good deal in CA rather than three sentences and saying you want to wholesale SFRs across the entire state of CA.
Sorry you feel you did not get what you wanted but reflect back on how your thread was started
Yeah, investors are still buying, it's not as hot as it was back in 2022 but it's still fairly hot and it seems wholesale offers move almost as quickly as before. There are still deals out there
Quote from @Ronald Ty:
People like to say there were a ton of deals in 2008-12 & there were.
but they don't talk about there still was a ton of competition. There always will be if it is a good deal.
And they also don't mention that the values kept coming down and down. When you buy a home thinking it will be worth 200k arv and then it sinks to 190k, it makes it tough to make $.
Very true! And it takes a very savvy investor or people who have plan B and C and D to survive in a declining market. A client of mine was in love with a house and offered way over ask to the seller last year. His offer was declined. We closed escrow for him on that house April of this year at $110,000 below the original ask from last year.
Im a CA flipper and I am DEFINITELY buying! If there is a deal to be made, I am sure there will be a buyer.
Yes sir, investors are still buying out here in Southern California. What I see and hear on a daily basis is, "as long as the numbers make sense, we are buying". So it depends on the deal and the investors who you are working with.