Real Estate Investor · Kittery Point, ME · Member since 2013 · 12 posts · 4 votes
Curious if there are folks who cater their rehabs primarily for investor buyers, and how they believe their flipping business might differ from those targeting the retail buyer.
Do you have a cadre of investors waiting for finished projects to buy? How did you find them?
Would you specialize on SFH or do investors generally prefer multifamily properties?
Do you use a broker, or do you sell FSBO, to investors?
We sell our distressed 50-60k properties to cash investors mostly in CA. Some have been lightly rehabbed up to 10k. We then find them an owner finance buyer here in town; a few of our investors do rent them out though.
We also do full rehabs for some houses and then resell them retail for the cash buyer. But the majority are the light rehab/owner finance deals. Currently most of these deals make 10-12% roi, no maintenance needed by investor.
My partner has lots of CA contacts and cash buyers; some of them buy the houses. I also find quite a few cash buyers online, craig's list is very effective.