Flipping Strategy #1 or #2 options?

[Brandon Becsi]

I wanted input on what you lovely people thought of these 2 strategies for finding properties to flip. Im in the Richmond, VA market and my target homes are for time home buyers 3 bed/2bath 1200-1500 sq ft homes. Average ARV 210-245k

1-On market deals that may be 20-30 years old homes that have never been updated but not in really bad shap. They are listed around 180-190k.....offering 135K ish on them stating that they need major updates....I can offer all cash and quick closing with no real home inspections, thats my benift to them. Putting about 20-30k into them making them now worth 210-230kish. This strategy will get alot on "nos" but for someone that wants quick cash now or an inhertance may work great. ......Thoughts?

2-Standard off-market deals buy driving for dollars , cold calling and sms vacant / absentee owners /distressed properties. This I can get better prices on 100k on average 40-50k repairs 210-230K ARVS...these need more repair and I have to really grind to get leads. 

What are your thoughts? ...I know #2 is is what we all would like to find is off market deals...my main thought is if option #1 works and if anyone has had luck with it?

[Brian Pulaski]

Honestly I really doubt your first one gets you any deals at all. Someone listed has a realtor telling them what the house should sell for and they aren’t going to sell that deeply discounted. Their realtor will say, don’t accept that offer, let’s drop the price to $150k and sell it extremely quick. You can try, but you risk your name getting around for doing that (some people care some don’t).

Your second one is more work, and more difficult. With that said, it’s the best way to get actual deals with meat on the bone.