1,506,163
1. The VAST majority of my business.
2. They can be if you know what you're doing and have good tradespeople, get the house at the right price, have a rapidly appreciating market (or just a regularly appreciating one)...
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Michael J. Perry
Lancaster, PA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Debe Maxwell, CRS
Charlotte, NC
4,582,434
I have had investors buy fixers and turnkey properties. Due to current prices, the number of investers has decreased for me.
-
Paul S. Henderson, REA...
Tacoma, WA
-
Peter Testa
Danbury, CT
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Debe Maxwell, CRS
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
5,254,675
Yes and yes, Fred. Most of the ones that we find, however, are not in MLS - you have to grab them before they know they're ready to sell. Connections in the communities help and then, take it from there.
Right now, unless your investor is also a contractor, profits are not what they used to be thought. Contractors are charging an arm & a leg (because they can - supply & demand).
-
Peter Testa
Danbury, CT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Fred Griffin Florida R...
Tallahassee, FL
1,847,051
Most investors are full of it. I have yet to work with a good one in the last 2 years so they are on the 'outs' with me.
We don't have many anymore & people are now buying them off the foreclosure steps ahead of the banks if they can. It still is profitable in some cases. I see many agents directing their clients into really bad deals & the places won't sell when rehabbed.
-
Barbara Todaro
Franklin, MA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Peter Testa
Danbury, CT
-
Nina Hollander, Broker
Charlotte, NC
5,583,328
I've sold many of them to those who rehab.... the participants who "know their numbers" and the proper method of addressing each improvement will make money.... time is money.... fix and flip means do the work in a timely fashion and price it to sell.... cannot carry for a lengthy time... cannot try to save pennies by sanding cabinets!! pull them out and replace them with a boxed cabinet.... as an example...
-
Katerina Gasset
Provo, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Lyn Sims
Schaumburg, IL
-
Fred Griffin Florida R...
Tallahassee, FL
6,418,799
Yes, to all of these, though I have seen too many who do not make money on them. As with all things it pays to do your research and do it right.
-
Bob Crane
Stevens Point, WI
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
430,402
I wish I had more, and I wish I had more liquid funds to do it myself. Lots going on around here, and I can't say most of them are quality jobs.
-
Bob Crane
Stevens Point, WI
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
1,553,599
1. Yes, regularly.
2. Yes, but I rehab for buy & hold, never fix & flip. Profitable big time.
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Fred Griffin Florida R...
Tallahassee, FL
54,940
I just posted a question about the rehab we did - we learned a lot - but in the end it was not financially profitable - but it has led us down an important path that changed our lives in very positive ways. So there is profit, just not direct financial profit. However if we had not gone down the road, we would have missed the turn that changed our lives.
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Fred Griffin Florida R...
Tallahassee, FL
633,070
I work w/ a number of investors, if one is going to venture into rehabs you better know your numbers and have a team in place. I have seen many who jump in and get caught w/ their pants down
-
Nina Hollander, Broker
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Fred Griffin Florida R...
Tallahassee, FL
1,153,794
Every piece of property I buy is looked at as an investment. Some had minor renovations and others much. While I don't have as many Buyers for such properties as in the past profits are still being made. The main ingredient is choose wisely and purchase toward your strengths.
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
1,513,143
Yes, yes, and yes.
And a second to the "Price has to be right"!
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
5,772,587
Fred,
A lot of our business was based on finding buildings with upside potential. Our clients knew what they were doing and had crews ready to take care of everything from permits to expeditors if they needed them for permits. Then we would lease the buildings and we would sell them for them. A
I know that Ryan Huggins - Thousand Oaks, CA has experience and the right people who know what they are doing. A
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Kasey & John Boles
Boise, ID
-
Fred Griffin Florida R...
Tallahassee, FL
140,560
yes, yes and yes ... if an agent /broker is going to take their income to the next level and protect their business from downturns in the market, then they should have a solid book of investors and take advantage of investment opportunities themselves.
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
3,988,013
I work with investors that buy these. I also have bought some myself and they were profitable. The first one we did we did with our daughter and her fiance' many years ago. They got all the profits to use for a downpayment on their first home. They still own that home and use it as a record.
We did another one with our other daughter and split profits 50/50 and gave her a management fee. It was worthwhile for for all of us.
-
Katerina Gasset
Provo, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
472,114
My husband and I bought homes at auctions back in the 90s. We would fix them up and re sell them. We went with mostly ranchers that weren't any older than about 20 years. We'd paint and put new flooring in, repairs and a new stove and refrigerator. We enjoyed it and it was profitable.
-
Katerina Gasset
Provo, UT
-
Fred Griffin Florida R...
Tallahassee, FL
1,323,529
We are currently engaged with a client and are managing the updating and remolding of the house prior to sale. The changes will substantially enhance the attractiveness of the house leading to increased profit for our client and, we hope, excellent referrals for us.
-
Katerina Gasset
Provo, UT
-
Fred Griffin Florida R...
Tallahassee, FL
664,908
Several years ago I worked with a group of out state investors and they would come to Columbia once a month for the foreclosure auctions at the courthouse. I would price out 30 to 40 houses at a time that were set for auction and they would come up with a bid price for each house and make bids on all of them. Whatever stuck they would rehab and anything that went above their bid price for that particular house, they would walk away from.
once the houses were rehabbed, I would list them. This was during the crash so they had little competition to drive up the bids and they could undercut the competition on the market in each community we listed the houses in. We made it through the crash just fine.
I have rehabbed a house myself, but I did all the work myself so I did not need to hire contractors for any of the labor and this saved a lot of money during the process. All total we made a very nice profit and I would be willing to do it again when the opportunity presents itself.
-
Katerina Gasset
Provo, UT
-
Fred Griffin Florida R...
Tallahassee, FL
117,135
Yes, if there is a good deal out there, I am happy to rehab it and make some money in the process. I usually do 1-3 per year. Its super fun too.
-
Katerina Gasset
Provo, UT
-
Fred Griffin Florida R...
Tallahassee, FL
3,349,554
Yes, but not routinely.
I have not participated.
I just closed with buyers who purchased a flip - investors did very well on their 4-month project.
-
John Juarez
Fremont, CA
-
Fred Griffin Florida R...
Tallahassee, FL
5,113,121
I don't personally invole myself in such projects. With respect to foreclosures and REO's, what foreclosures and REO's? We hardly seen any for several years here. I have investor clients but not ones who want to undertake this kind of project.
-
Fred Griffin Florida R...
Tallahassee, FL
-
Peter Testa
Danbury, CT
7,864,157
I have sold hundreds of foreclosures and many were purchased by investors. I have purchased and sold many for my personal account. Risky but profitable.
-
Fred Griffin Florida R...
Tallahassee, FL
-
Nina Hollander, Broker
Charlotte, NC
2,784,726
There was a time, a sort of heyday but it has now diminished....
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
2,163,123
1. Yes, I do but the number of suitable properties has been diminishing.
2. No.
3. It can be. Don't get carried away HGTV style!
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
2,192,379
There is a Learning Curve
-
Lyn Sims
Schaumburg, IL
-
Fred Griffin Florida R...
Tallahassee, FL
3,071,489
No
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
4,800,132
I do not compete with my customers, so I only work for them.
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
5,240,041
Used to do turnarounds on apartment complexes. It cured me of that ambition!
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
2,456,875
We still have a fair amount of foreclosed properties here, and yes, I work with buyers who purchase them.
I also work with a few investors, but not for flips - for multi-family rental properties. Some of them need a bit of work, but not total rehabs.
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
3,986,308
Well, most of the above. Getting to old now
-
Nina Hollander, Broker
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
87,920
yes, I do it regularly myself or for clients.
-
Fred Griffin Florida R...
Tallahassee, FL
3,048,382
We have very few of those in our market. Hardly any. I do have friends on FB who do amazing doing flips and rentals and seller financing.
You can talk to Carmelo https://www.facebook.com/PropertyHubRealtors
-
Fred Griffin Florida R...
Tallahassee, FL
5,877,915
That is not my niche, but have had some repeat clients ask to buy a rental property, which I have. I am single and cannot rehab, so have not delved into this.
-
Fred Griffin Florida R...
Tallahassee, FL
4,434,177
155,337
I have not much in that arena, but it's my goal to build a real estate portfolio, so I will likely be in the market for an REO or foreclosure.
-
Fred Griffin Florida R...
Tallahassee, FL
4,319,773
I do have a few of them Fred Griffin.
-
Fred Griffin Florida R...
Tallahassee, FL
4,177,518
Hello Fred, fixer upper market is decreasing in my area.
-
Fred Griffin Florida R...
Tallahassee, FL
4,272,934
Yes it is; but you have to be careful and realistic...
-
Fred Griffin Florida R...
Tallahassee, FL
182,965
Investors like rehab and foreclosure properties because of profit at the end. But you should have a good team behind to rehab these kind of properties. Without a good team its hard to finish work on time and sell on time, that's the key.
-
Fred Griffin Florida R...
Tallahassee, FL
544,014
Profits can be made and losses can be avoided with the right people.
-
Fred Griffin Florida R...
Tallahassee, FL
759,485
Yes, I have lots of clients who want these type properties. Those relationships were never stronger than during the height of the Short Sale market where I always held a large number of those type deals.
-
Fred Griffin Florida R...
Tallahassee, FL