Fred Griffin Tallahassee Real Estate, Licensed Florida Real Estate Broker (Fred Griffin Real Estate)

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Rainmaker
1,361,668
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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)...

Apr 06, 2018 09:18 PM
Rainmaker
3,956,454
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have had investors buy fixers and turnkey properties.  Due to current prices, the number of investers has decreased for me. 

Apr 06, 2018 06:54 PM
Ambassador
4,091,130
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

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).

Apr 06, 2018 09:29 PM
Rainmaker
1,697,294
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

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. 

Apr 07, 2018 07:38 AM
Rainmaker
5,570,642
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

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...

Apr 07, 2018 06:54 AM
Ambassador
5,212,893
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

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.

Apr 06, 2018 09:48 PM
Rainer
307,952
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

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.

Apr 06, 2018 09:27 PM
Rainmaker
1,177,091
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

1. Yes, regularly.

2. Yes, but I rehab for buy & hold, never fix & flip. Profitable big time.

Apr 06, 2018 09:05 PM
Rainmaker
54,478
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

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.

Apr 07, 2018 07:02 AM
Rainmaker
407,211
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

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

Apr 07, 2018 06:39 AM
Rainmaker
1,092,472
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

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.

Apr 07, 2018 05:04 AM
Rainmaker
1,379,164
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Yes, yes, and yes.

And a second to the "Price has to be right"!

Apr 07, 2018 04:49 AM
Rainmaker
5,366,082
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

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

Apr 06, 2018 09:52 PM
Rainer
140,360
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

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. 

Apr 06, 2018 07:43 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

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.

Apr 06, 2018 07:29 PM
Rainmaker
465,016
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

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.  

Apr 07, 2018 06:14 PM
Rainmaker
868,064
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

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.

Apr 07, 2018 03:52 PM
Rainmaker
662,485
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

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.

Apr 07, 2018 09:09 AM
Rainer
116,985
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

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. 

Apr 07, 2018 08:00 AM
Ambassador
3,001,350
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

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. 

Apr 07, 2018 07:53 AM
Rainmaker
3,905,965
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

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.

Apr 07, 2018 07:50 AM
Rainmaker
6,367,460
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

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.

Apr 07, 2018 07:37 AM
Rainmaker
2,610,572
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

There was a time, a sort of heyday but it has now diminished....

Apr 07, 2018 06:39 AM
Ambassador
2,057,997
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

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! 

Apr 07, 2018 05:55 AM
Rainmaker
2,013,770
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

There is a Learning Curve 

Apr 07, 2018 05:40 AM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

No

Apr 07, 2018 05:39 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I do not compete with my customers, so I only work for them.

Apr 07, 2018 05:26 AM
Rainmaker
4,019,389
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Used to do turnarounds on apartment complexes. It cured me of that ambition!

Apr 07, 2018 05:06 AM
Rainmaker
1,790,398
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

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.

Apr 07, 2018 03:32 AM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Well, most of the above. Getting to old now

Apr 06, 2018 08:40 PM
Rainer
87,820
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

yes, I do it regularly myself or for clients. 

Apr 13, 2018 05:58 PM
Ambassador
2,781,807
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

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

Apr 11, 2018 03:50 PM
Rainmaker
4,734,883
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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.

Apr 09, 2018 03:46 PM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Apr 09, 2018 04:18 AM
Rainer
139,045
Anthony Kirlew
Group 46:10 Network @ eXp Realty - Gilbert, AZ
Helping You Make Fiscally Sound Choices

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.

Apr 08, 2018 06:58 AM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

I do have a few of them Fred Griffin.

Apr 07, 2018 11:09 PM
Rainmaker
3,330,270
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Fred, fixer upper market is decreasing in my area.

Apr 07, 2018 04:30 PM
Ambassador
3,641,423
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Yes it is; but you have to be careful and realistic...

Apr 07, 2018 02:08 PM
Rainer
179,715
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

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. 

Apr 07, 2018 01:25 PM
Rainmaker
526,755
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Profits can be made and losses can be avoided with the right people. 

Apr 07, 2018 09:21 AM
Rainmaker
665,603
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

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. 

Apr 07, 2018 08:48 AM