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Started By
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Flippers out there - where are you seeing deals?
Posted on 8/20/23 at 11:48 am
Posted on 8/20/23 at 11:48 am
Is it getting any easier in your market trying to find flips that work? I’m in NOVA/DC and it’s super tough here.
Brrr clearly doesn’t work anymore with higher rates (some exceptions of course). Just curious to see what anybody playing in this field is seeing.
Brrr clearly doesn’t work anymore with higher rates (some exceptions of course). Just curious to see what anybody playing in this field is seeing.
5
Posted on 8/20/23 at 11:52 am to Im4datigers
Who is going to be exit liquidity when they can rent for 33% less and get zero risk 5% return on their deposit?
Posted on 8/20/23 at 12:26 pm to down time
Not following you, but go ahead
Posted on 8/20/23 at 1:36 pm to Im4datigers
He is saying bonds are paying 5%. No reason to deal with rentals at this point in time.
Posted on 8/20/23 at 1:39 pm to tenderfoot tigah
Correct. Not talking about rentals. In fact I said brrr doesn’t work right now.
I’m talking about pure flips.
I’m talking about pure flips.
Posted on 8/20/23 at 4:20 pm to Im4datigers
Flips- have to find an off market is some sort of distress. It's so hard right now.
Posted on 8/20/23 at 4:22 pm to Billy Blanks
Give it 2 quarters ….. you’ll see plenty of distressed flippable properties enter inventory…… commercial properties are what I’m watching for.
Posted on 8/20/23 at 4:30 pm to cadillacattack
quote:
commercial properties are what I’m watching for.
That's smart.
It won't happen on residential. Too many locked in at amazing rates.
Posted on 8/20/23 at 4:54 pm to Billy Blanks
quote:
Too many locked in at amazing rates.
Meh maybe. Too many rushed out and bought a bunch of crap and ran up credit card bills instead of saving the difference between the old payment and the new one. Still going to be some distress.
I’ll never see it in my market here. Hoping to partner up with some folks in a little more normal market
Posted on 8/20/23 at 7:58 pm to Im4datigers
quote:
Flippers
quote:
I’m in NOVA/DC and it’s super tough here.
Good
Posted on 8/20/23 at 8:58 pm to The Baker
Great post. Would read again.
Posted on 8/21/23 at 4:42 pm to cadillacattack
Has anyone here every formed an investment group?
Posted on 8/21/23 at 5:21 pm to jmarto1
quote:
Has anyone here every formed an investment group?
you can do a real estate syndication.
or you can form/create your own private equity fund.
Posted on 8/21/23 at 9:01 pm to Fat Bastard
quote:
Has anyone here every formed an investment group?
Yes. I’ve set one up. They’ll come in on the equity side if needed but we’ll also lend private money for short term as well.
Be careful using the word “fund” though as you can start stepping on some SEC land mines.
Posted on 8/21/23 at 10:32 pm to Im4datigers
Sorry, I wasn't clear. Have posters on this board formed one together?
Posted on 8/22/23 at 1:12 pm to jmarto1
I have spoken to numerous people on here around individual transactions and have offered putting some equity together for folks short on down payments etc etc. Have done a few deals for people on here through debt deals but not sure there’s a spot here for a true fund per se.
Posted on 8/22/23 at 1:44 pm to Im4datigers
There aren't any deals around here (upstate of SC) and there aren't likely to be any in the next couple of decades. Too many yanks migrating from their shite hole big cities F'n up home values.
Posted on 8/22/23 at 1:54 pm to AUHighPlainsDrifter
quote:
Too many yanks migrating from their shite hole big cities F'n up home values.
Lol Floridians say they’ll be happy to trade places with you guys!!!
Posted on 8/22/23 at 5:24 pm to Im4datigers
Im.behind because i tried with friends and family. No money was lost but the ceiling was low since they were difficult to work with
Posted on 8/22/23 at 6:16 pm to jmarto1
quote:
Im.behind because i tried with friends and family. No money was lost but the ceiling was low since they were difficult to work with
Yeah fine line there. You want them asking good questions and doing whatever due diligence they need to do, but in the end they are supposed to be passive investors.
I’ve also found that everyone’s in when you talking about this shite around the fireplace sipping on high noons but when it comes time for writing checks everybody disappears
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