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One of the flippers from Seattle said she is going to go to Pittsburg for lower and more stable prices. I remember right before things started to get really bad last time around 2005 or 2006?, I heard real estate investors talking about flipping in cheaper areas too. Not that I know that the market will tank hard, it's just interesting that similar stories are happening again.
One of the flippers from Seattle said she is going to go to Pittsburg for lower and more stable prices. I remember right before things started to get really bad last time around 2005 or 2006?, I heard real estate investors talking about flipping in cheaper areas too. Not that I know that the market will tank hard, it's just interesting that similar stories are happening again.
Cheaper is not always better. There's no way in the world I'd ever invest in Tulsa, OK just because the home prices are cheap.
Supply and demand.
If you're flipping homes, stay disciplined and keep hunting for deals. They are out there, even in the hottest and most competitive markets.
I'm in one of the top 10 hottest investment markets in the country and retail prices are at historically high levels and I still have investors who are going to make millions in profit this year. It's not the market that's making bad investments, it's the investor.
The problem is the market has recovered in most places. They can't buy low and sell high. In my area a flipper fixed up the home to make it almost livable, left out the kitchen, sold it to another flipper who realized he overpaid and was happy to sell for what he put into it and walk away getting his original investment back, which is more than I paid from my 33% bigger home 3 years ago.
The only way a flipper can win is if they find a wrecked home cheap and are willing to put work and money into it to make it nice. If they are lucky.
Yes, keep trying to convince vulnerable, unsavvy people to sell you their homes for much less than they could get on the open market.
I get what you’re suggesting here, but you seem to exclude situations like what is expressed in this post on another thread. //www.city-data.com/forum/55129035-post55.html There are plenty of houses that would not be served well by the retail market, which I presume is what you mean by “open market”.
One of the flippers from Seattle said she is going to go to Pittsburg for lower and more stable prices. I remember right before things started to get really bad last time around 2005 or 2006?, I heard real estate investors talking about flipping in cheaper areas too. Not that I know that the market will tank hard, it's just interesting that similar stories are happening again.
Pittsburg is in California which I assume is expensive in the entire state? Not sure.
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