Rehabbing in any market or conditions

Rehabbing & House Flipping
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Rehabbing in any market or conditions

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Member since 2008 · 45 posts · 1 vote

Is there anyone that believes that rehabbing can be a lucrative venture in any market or any conditions?

I read a book and there was an expert that mentioned that rehabbing (if done correctly) could be lucrative in any type of market conditions (i.e. hot, slow, big, small, etc.)

Anyone else agree with these statements?

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  • Jim & Michele Wilcox
    General Contractor · Scottsdale, AZ · Member since 2008 · 100 posts · 7 votes
    20y

    I agree that an astute RE rehab investor can make money in any market climate. You need to know the market and what people want and what is selling in each phase of market decline and/or market rise. You may not do as many rehabs but you should be able to make money on the ones you do.

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  • Alaina Parsons
    Member since 2008 · 23 posts · 0 votes
    20y

    You can make money in any market. I always tell my investors it is like playing Monopoly you have to have houses on every side of the board (different markets) to win the game. You can also exchange (1031 exchange) the house for hotels. Think about it.

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  • Bill ExeterBusiness Member
    1031 Exchange Qualified Intermediary · San Diego, CA · Member since 2008 · 1k+ posts · 1k+ votes
    19y

    You might want to visit this thread as well regarding holding guidelines for 1031 exchange properties: http://forums.biggerpockets.com/viewtopic.php?t=5625&highlight=1031+exchange

    Exeter 1031 Exchange Services, LLC and Exeter Trust Company4.726 Reviews
    WebsiteView Page
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  • N/A N/A
    NH · Member since 2008 · 13 posts · 0 votes
    19y

    I am with Romi on this one, if you are starting out with flipping it will take more than a book to enable you to profit in any market condition. So if you want to get into flipping, don't base your plans on what you see on the TV shows and books out there!

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  • Richard B
    CA · Member since 2008 · 31 posts · 2 votes
    19y

    The 3 rules to successful flipping in any market.

    1. Buy properties at 40 cents on the ARV dollar. Never, never forget – you make your profit when you buy right NOT when you sell.
    2. You must have dependable and skilled birddogs, lenders, interior designers, budget/site managers, contractors, realtors etc…
    3. And most important, read everything you can get your hands on. Distressed RE, probate, divorce, foreclosure, gov seizure. Rehab Financing. Interior Design. Construction and how to run a job. Budget Planning etc...

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  • Jonathan Reizovic
    Centereach, NY · Member since 2008 · 18 posts · 2 votes
    19y
    Originally posted by "TheRichZone":
    The 3 rules to successful flipping in any market.

    1. Buy properties at 40 cents on the ARV dollar. Never, never forget – you make your profit when you buy right NOT when you sell.
    2. You must have dependable and skilled birddogs, lenders, interior designers, budget/site managers, contractors, realtors etc…
    3. And most important, read everything you can get your hands on. Distressed RE, probate, divorce, foreclosure, gov seizure. Rehab Financing. Interior Design. Construction and how to run a job. Budget Planning etc...

    From what I've been readin on here you want to buy at 70% ARV minus Repairs. Isn't 40 cents on a dollar 40% ARV and asking a little too much?

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