I disagree that there are plenty of houses that can be fixed and flipped for a healthy profit. There may be houses that need work, but getting an owner to sell at a discount is the issue in my opinion. I haven't pulled the data since Coronavirus, but previous to that, there was only 2 month's supply of homes on the market. Not much reason for a homeowner to sell at a discount when they can put their home on the market and sell it pretty quickly for a good price (assuming they price it correctly).
My husband and I have been house flippers for an year in the Phoenix area.
We are considering moving to California but I heard Los Angeles is not the best place to flip houses.
I was reading about Ventura County, Thousand Oaks area and nearby. Are those good are to fix and flip ?
Do you have any tips or news I can use to get an idea of the market there ?
Thank you very much ! Carolina
I'd like to give you some pointers but I moved all my flipping to Phoenix and Texas. Any particular reason Phoenix doesn't appeal to you anymore? I just sold my flip off of Glendale Ave and 23rd in Phoenix. I bought for $186,000 and sold for $325,000. I cleared $100,000. I know that isn't spectacular but it was easy to find, easy to do and in high demand. Plus, I had a lot of fun with it. Phoenix is landlord friendly, but alas, I don't anywhere in SoCal that is.
@John Farady that’s spectacular numbers if you ask me! I’m actually in the process of securing my first flip in riverside. I can only hope for a spread like that.