What Are You Seeing in Your Market?

Question

For those actively fix-and-flipping, what market trends are you seeing in your area impacting your strategy?

And, for those looking to get started, beyond the typical advice, what overlooked factors are you considering when choosing a market?

Peter Mckernan · Answer

Always run the numbers and get the data from the MLS, not zillow or redfin. The deep dive on getting the true data on ARV is the best and most misunderstood thing by buyers. If the right comps are dug up then it gives that buyer the true answer if it is a deal or not a deal. This goes for any market, so many times the comps are not true comps and the person who bought the deal is out in the market losing money and the person who sold them the deal is out selling another deal with no care. You really need to know what is selling in that market and research the right properties to get that ARV nailed down.

Scott E. · Answer

The only strategy that works in my market is you need to have a product that checks ALL of the boxes when you go to resell. It's a tough resale market right now.

You need to be in a great zip code, in a great neighborhood, sitting on a great street, with a great floor plan, and great finishes. And even if you check all those boxes, you still need to have a little bit of luck when you go to sell.

No more room for the builder-grade Home Depot remodelers around here (which I am personally happy about)