Annette  Lawrence , Palm Harbor, FL 727-420-4041, Making FLORIDA Real Estate EZ  (ReMax Realtec Group)

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Rainmaker
4,579,620
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

If you can represent a flipper that does quality work in a short time and reinvests, you have a good customer! Many do not qualify!

Mar 07, 2020 05:52 AM
Rainmaker
1,028,437
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I still see a few flyers nailed on telephone poles that shout "We Buy Ugly Houses!"

and radio commercials the boast:

The first ten callers will receive two free tickets to my upcoming seminar on how to make money with no risk and no investment!

Mar 07, 2020 08:08 AM
Rainmaker
1,449,913
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Keeping my rehabbers supplied and happy.

Our illustrious state has pending litigation for a flip tax in New York City so how do we keep government away?

Mar 07, 2020 05:59 AM
Rainmaker
1,058,313
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I would say it is good if you represent the rehabber/flipper

Mar 07, 2020 08:19 AM
Ambassador
5,763,754
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

We have criteria set for our flips, and if the competition is willing to work for little or no profit then we are quick to walk away.

Unfortunate that many people watch a few fipping shows and then proceed to throw away all of their savings on an ill planned venture where they lose it all.

Mar 07, 2020 08:09 AM
Rainmaker
2,692,834
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When flipping was first introduced it had already been a best kept secret for a couple of years. In its inception, it was the origin of steals and deals with lots of big money to be made. When it became public and more competitive, flippers now had to do the math. After all that is said and done, what would they walk-away with after all that risk? It got down to about 30-60% return on investment reducing along the way making many flippers doubt and slow down. Eventually it became way less lucrative unless it was a steal or a sleeper! Remember too a crew is needed to fix-flip

Mar 07, 2020 07:58 AM
Rainer
354,642
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

The people making money in the arena are: giving classes for a fee, selling a book with typos, promoting that you invest in their pool (cough cough), claiming they will sell you secrets of wholesaling also for dough. Values softened in the over a million in areas that are not coastal BUT these are not a model for flipping as it takes a long time to sell

Mar 07, 2020 07:26 AM
Rainmaker
710,199
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

If that's true it'll flush out all the amateur flippers & that's good, you need to purge every now & then. 

Mar 07, 2020 06:43 AM
Rainmaker
947,191
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

A question I have is, does your state require you to use licensed contractors. Ours does and has for a while. I think it's any job over 1000 or 2500 aggregate unless you're going to live in the house for at least a year.

Mar 07, 2020 06:36 AM
Rainmaker
1,768,146
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

No, I do not see it. I see that flippers in our area are making huge pricing mistakes but all the rehab work is well done by competent people. 

In our area, REO's or other deals are coming along slowly & there are not the more regular flow of years past. Lots of fighting on the court steps causes overpayment.

Mar 07, 2020 06:00 AM
Rainmaker
5,768,176
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Annette,

I have not seen much of it here. A

Mar 07, 2020 07:31 AM
Rainmaker
7,052,178
Roy Kelley
Retired - Gaithersburg, MD

Every successful real estate professional should invest in real estate. Always seek flipping opportunities as well as rental opportunities.

Mar 07, 2020 12:42 PM
Ambassador
2,789,707
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

A higher building standard is necessary plus the contractors must be licensed to do the work. Otherwise, not worth the risk to be associated with the flipper.

Mar 07, 2020 11:13 AM
Rainmaker
2,086,609
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I never did a flip Annette Lawrence , Palm Harbor, FL 727-420-4041 because I was always afraid I was just going to buy myself a minimum wage job.... and I HATE painting!

Mar 07, 2020 06:55 PM
Rainmaker
1,361,645
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

There’s no margin in flipping houses in California since 2012. Unless you find a desperate homeowner or an off market deal, all homes are selling at market value and short sales have been rTe since 2013 here.

Mar 07, 2020 06:18 PM
Rainmaker
1,185,164
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Volume transactions Costco type appear to be the case. Low margin El Cheapo no name realty sells your home cheap also.

Mar 07, 2020 05:06 PM
Ambassador
4,570,339
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I used to love to flip but, haven't really had time since I started working in resales. I missed it so much, I implemented another 'product' for my aging sellers who have not made renovations but, stand a chance to improve their sales price with renovations.

Example: 

Seller's townhome was worth $250K without renovations. With renovations, I knew I could sell it at $325K...and did (we Close next week). 

That $75K difference cost me $25K as an investment (no interest - I made it up on the commission end) for renovations. We sold OVER list price and in one day. Had we listed it cleaned-up as it was before, rest assured we'd still be peddling that thing! 

The point is, reno work is still an option and should seriously be considered for resales and we should guide them in that direction.

Mar 08, 2020 11:01 AM
Rainmaker
2,055,099
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

All the Flipper Wantabees have driven prices beyond Profit

Mar 08, 2020 07:34 AM