It seems that everybody and their cousins are on the flip business. Any out of the box ideas on folding the next flip?
I agree competion is fierce however I have observed over the last 2 to 3 years the true professionals rose to the occasion to take a value add property and add to it. The flippers that have hands on experience with construction as owner user can work with the inventory out there.
The most important thing to do in a tight market such as OC has, is to choose a few of the cities and get to KNOW the neighborhoods that are popular, pirces, etc. Drive around and look for properties that look like they have potential, need some work, etc., and start contacting owners. DEALS are rarely found on MLS in this market, you have to get out and beat the bushes. Also, it's important to have people to work with that are reliable and can get things done on time.
Planing to do just that and also a mailing campaign.
@Account Closed you are correct, but that is a function of the real estate cycle that we are in. I am still having luck here in Orange County as you can see by this flip in La Miranda https://matrix.crmls.org/matrix/shared/Vf0W3pH2DCGd/14626GreenworthDrive I have another in Mission Viejo coming online in the next few weeks, but I am having to move out to the Inland Empire and Los Angeles to find more inventory.
I would NOT waste your time on a mailing campaign as there are big players sending 15-20 thousand pieces a month. If you like door knocking then try knocking on "NOD" doors for some leads. The court house steps has mostly dried up with maybe one or two properties a week being sold. Bandit signs are a hit and miss proposition. Cold calling is effective (Probates, Divorce Sales, Etc), but its a numbers game and you need to make lots of calls.
Hope this helps.
@Joe Homs Thank you for some great ideas on methods are that are effective vs less effective for our Market.