Home > Blogs > Dan Dunleavy > Dan Dunleavy's Blog

Flip Tips:(Flipping Houses) Buyers Market, so Why not invest?

By Dan Dunleavy

Industry Observer with Florida Suncoast Property Management, LLC - Venice FL

December 27, 2007 05:35 AM

There are ton more properties for sale then there are buyers. This is one of the best buyers markets we have seen in years. So, what is holding you off from buying your house, investment property or next house flip?

With the excess of properties for sale, you have complete control and can negotiate some truly amazing deals. For example, sellers or banks might be willing to take a much lower offer to move the property, consider paying your closing costs or providing some type of seller assistance. You need consider the number game before the purchase or before you negotiate your deal. But, the timing is ripe for the picking.

Consequently, the real questions are:

Home Buyers: Why aren't you buying a house today? The prices aren't going much lower, so why wait.
Investors: Are you looking for a second home in the mountains, lake front or beach? Well, what are you waiting for? There are so many properties for sale in resort areas, so negotiate your deal.
Flippers: Are you looking for your next flip, but nervous on whether to buy? Well, know the numbers and use the right tools to project your expenses, assume a slower resale cycle and account for finished property being completed below the other listings prices in your market. A little hard work and preparation can make the difference between success and failure.

I hope each of you have a Happy Holiday and prosperous New Year!

Dan Dunleavy President, FixtoFlip Inc (954) 889-7092

http://www.fixtoflip.com/ - The Tools and Resources you need to Fix and Flip Real Estate Profitably!

Check out our NEW business goWEBSgo! http://www.goWEBSgo.com for dependable, reliable and affordable small business internet marketing solutions.

Other Blog Entries:

(House Flipping) A Newer, Smarter, Flipper

Flip Tips 2. (Getting Connected)

Flip Tips (House Flipping or Rehab)

FixtoFlip.com has a New Integration for Adding House Flipping (Rehab) Properties.

Watching The Numbers

Not All Doom and Gloom

Comments(2)

Comment

Show All Comments

Sort:

Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Dan - I'm doing exactly that, looking for the right property to flip. Have found a few where the numbers work but the competition has been intense for those. Not willing to get into a bidding war and overpay for any property. Just wondering what your experiences have been doing the same.

Dec 27, 2007 05:40 AM

Dan Dunleavy

Florida Suncoast Property Management, LLC - Venice FL - Glenmoore, PA

Hi Jim. Thanks for your comments. In our area and neighboring counties, it can get quite competitive. You have to stick to your guns and only offer what the flip is worth. Obviously, the numbers either work or don't work, so only offer what will enable a profit. However, you can make your offer appear to be more attractive by being a "cash offer" and if you have a good General Contractor or you have the experience to inspect the property and make the offer "as is". You are willing to accept the property in its current state. Also, consider offering a quick closing date. Other offers may have contingencies, need to acquire financing, and can't close quickly. So, your offer might be more appealing.

Again, just a few suggestions, always consider the risks, and good luck in finding your next flip!

Dan

Dec 27, 2007 05:57 AM

Comments(2)

Dan Dunleavy

Recent Posts