Report: The Flip is dead???

You may not see the same type of flips, but they are alive & well. We have done many houses that we buy, rehab & then flip. They can be REOs, probates &
estates, FSBOs, or through the MLS. They may take 6 or 8 weeks, or even up to 6 months or more, but when you're making 20% to 70% return on your investment, who cares ! As for buy & hold, it's a great strategy too, we also have lease options(rent to own for tenant buyers). But with people loosing their homes & making more tenants available, sometimes it makes a good paying tenant hard to find; heck if they didn't care about their own home, they sure as hell aren't going to care about yours.
We think that the automated system is going to open doors to wholesale investing, but with so many wholesalers out there, some of us might still have to flip the old fashion way.

But what do I know ???? Ask me in six months !!!!

~ Sherri

Thanks for your input "gceriani" The deals I have done I have kept them for cash flow and so far is good but because I have to come up with money for adquisition and repairs and I'm running out of cash I feel I'm going too slow so I believe I have to flip a few just to keep going faster so is good to hear that people like you still is going strong in the flip world.

Sherri,
I'm not waiting six month to find out on you actually you should know in one or two more months if not sooner.
Daniel

Most of my investors buy my discounted properties to fix up and resell. I would say the flip is not dead at least where I am at.

Just did a closing on a REO that we won the highest bid at a REDC auction. Over $ 700 in closing costs for the law firm's work & I had to print, scan, email & send the packet out myself ... amazing. We have another closing in a week or two & I felt the same way, afraid of running out of cash, but got a signed contract back today on a house we're selling ...so that will help. We will make about 10K for 4 days of work & holding the property about 4 to 6 weeks. Not too bad...

enough meat on the bone for the next investor right? I believe somebody quote it like that before.....

I won two properties on different occasions at REDC and both didn't reach the "Reserve" amount and the bank end up not accepting my highest offer.
So you flip all the properties you get or you keep some?
Daniel

they'll always be around

I was at an auction this weekend and a full time investor said the flip is still alive and well. He told me call up lots of contractors too because work is really slow and they'll work with you on prices.

I wouldn't worry.

I think is time for some action.
I will start working on a flip and see how it goes...

We believe these two strategies are worth it especially if you can pick up the properties well under FMV. We are currently looking at properties to use one or both of these strategies. I enjoyed elixbrown's comment, "Flip, roaches, rats and taxes they'll always be around" We agree!!!!!!

We usually just flip, but have rented & done lease options also. We like the cash in hand now better.