All Forum Posts by: Yinan Q.

Do what you do the best, whether it's flip or B&H.

I am not sure about California but in my neck of woods in Seattle, there are some companies whose main business is to help investors bid on foreclosure auctions. 

They gather the list of properties, drive them, take photos, do a preliminary title search, estimate how much rehab is needed, and represent you on the auction. Of course they charge a fee for doing all this. It's about 3% here.
If you are not familiar with the auction procedure or if you don't have time to do all the homework, it's not a bad idea to work with these professionals. You may want to talk to other investors in your area to find out which one is the best for you.

I'd like to get everyone's opinion, especially those experience flippers who have been through at least one market cycle. Do you think a up market or a down market works better for flippers? 

I think in a upward trending market, it is harder to get a deal because of limited supply and intense competition. But once you get one, it's less likely to lose money because there is a good chance that the sale price will be higher than what you estimated originally. Of course that's assuming you did your home work before the purchase.

The supply demand balance shifts In a down cycle. There are more to choose from but this doesn't mean there are more deals. It's difficult to predict the sale price and it will take a longer time to sell.

What your thoughts are?

Just want to share with everyone a flip I just did recently. It's a small SFR just light over 1,000 sf in a hot area in Seattle.

We bought the house at the end of February, we are now under contract with a closing date in Mid June. The total profit will be around $57,000!

Before and after pictures:

It depends on your local market. Kitchen appliances are standard in my market.

There are so many moving parts in a flipping business. For every deal you do, you need to find the deal, analyze it, purchase it, manage the rehab, and market it. 

Based on my limited experience with flipping, finding good deals is really limiting what I can do. The next hurdle I see would be to come up with the funds to finance the deals. Seattle is not a cheap market, you can hardly find any SFR below 200k. However, I am more concerned about finding deals than finding money. I believe good deal is the key, money will follow.

To all flippers, what's holding back your flipping business from growing to the next level?

Welcome @Rob Deweese, there are quite a few local meetups in the Seattle area. You can find them BP or Meetup.com.

I don't think it would be different than marketing your other real estate deals. It's the deal itself that is attractive to investors. 1031 or not, it's up to the investor. 

Welcome to BP! You will find great information and great people on the site.

 High or low, it depends on your local market. If everyone else is making 10% cash on cash return on a flip, chances are you will get similar deals unless you have your own way to find deals others couldn't find.