California Property Flips Down 38.1% for 2012 Levels. (source: Property Radar)
Perhaps it's time to think "outside" the CA Box.
Opportunities abound all around the country. I started looking outside CA last year and I have turned some really nice deals without ever seeing the properties.
BP connects us nationally. I love this resource.
What states did you find your deals?
I would be interest in your thoughts.
The CA real estate market has just made too much of a comeback, even houses that need to be rehabbed are going for almost ARV values in many cases in my area, wiping out profit margins. One way is to do the rehabs yourself now (and maybe some inexpensive labor help) instead of pricey contractors if your not already doing that.
@Desi Arnaz I would LOVE to know more about how you are flipping houses in different states without ever seeing the property. You said BP - but I'd like more details :)
Dear Sir; Although, I do not do this personally anymore; many flippers acquire the
property from a "wholesaler" and then ask their realtor to see the property
and write the offer. I did a lot of these transactions in 2005/6.
A lot of flipping in Tennessee and Texas.
They are still around, you just have to look a little harder for them.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing