Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 10 months ago on . Most recent reply

User Stats

50
Posts
29
Votes
Sam Issa
  • Investor
  • Boca Raton, FL
29
Votes |
50
Posts

Finding deal in a saturated market

Sam Issa
  • Investor
  • Boca Raton, FL
Posted

Hello BP Community,

I've been working hard to find my next fix & flip property here in South Florida, just north of Miami. A saturated and expensive market. 

I've tried working through wholesalers, but the numbers just don't make sense. Nothing below 80%, minus rehab. I tried doing direct mail myself, but the response rate has been very low. D4D didn't return any results.

For those of you who are in similar markets, what's your strategy? How do you find deals? Do you go above the 80%? I know in other areas on the country they don't look at anything above 70% of ARV.

I tried to fix and flip 4 hours away from where I am, and didn't enjoy it. It was just too difficult to keep up with my GC and permits.

I appreciate the advice!

Sam

  • Sam Issa
  • Most Popular Reply

    User Stats

    3,871
    Posts
    3,524
    Votes
    Evan Polaski
    #5 Multi-Family and Apartment Investing Contributor
    • Cincinnati, OH
    3,524
    Votes |
    3,871
    Posts
    Evan Polaski
    #5 Multi-Family and Apartment Investing Contributor
    • Cincinnati, OH
    Replied

    @Sam Issa, I have had success just watching stale listings on the MLS.

    Additionally, my renovations are full guts anymore, which helps limit some competition and allows me to push the ARVs relative to other houses for sale in the neighborhoods.

    Admittedly, this doesn't necessarily create substantially more deal flow.  But, especially in this high demand market, you need to cast as many nets as possible and, likely, take on what feels like more risk.

  • Evan Polaski
  • [email protected]
  • 513-638-9799
  • Loading replies...