Yeah, I am finding that inventory is low, and I am putting in 30-40 offers a month right now with the hopes that I get 1 under contract with a price that is under market value in order to turn a nice profit. The garden district is where I am concentrating most of my marketing and research because it is a hot area, but like you said, inventory is very low. I might start looking at older homes in the Ascension area as well to allow a better chance of landing a contract, but it will require more purchasing power to buy in that area.

This post was edited on 1/21/15 at 11:10 am

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Posted by iknowmorethanyou

Paydirt

Member since Jul 2007

6552 posts

Posted on 1/21/15 at 1:25 pm to joeytiger

It's certainly not glamorous but there's money to be made rehabbing and renting mobile homes.

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Posted by Delacroix

Member since Oct 2008

3992 posts

Posted on 1/21/15 at 4:11 pm to joeytiger

quote:
Yeah, I am finding that inventory is low, and I am putting in 30-40 offers a month right now with the hopes that I get 1 under contract with a price that is under market value in order to turn a nice profit. The garden district is where I am concentrating most of my marketing and research because it is a hot area, but like you said, inventory is very low. I might start looking at older homes in the Ascension area as well to allow a better chance of landing a contract, but it will require more purchasing power to buy in that area.

Ascension wouldnt be a bad place to look. My Realtor friend just bought a flip house in Dutchtonw that he's likely to turn at least a 30k profit.

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Posted by stout

Smoking Crack with Hunter Biden

Member since Sep 2006

167885 posts

Posted on 1/21/15 at 6:02 pm to joeytiger

quote:
Yeah, I am finding that inventory is low, and I am putting in 30-40 offers a month right now with the hopes that I get 1 under contract with a price that is under market value in order to turn a nice profit.

It's going to be really hard to snag a good flip property this way. All of the good deals get bought by realtors or clients they have sold numerous investment properties to before the general public knows about them. You need to get more creative if you are trying to get into flipping.

This post was edited on 1/21/15 at 6:39 pm

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Posted by notiger1997

Metairie

Member since May 2009

58513 posts

Posted on 1/21/15 at 6:40 pm to joeytiger