Subscribers to this blog know that some investor friends and I recently flipped a house in Phoenix. Ultimately, we bought for around $120k, put 10k in it, and sold it for 180k. Hold time was just over 3 months. This was a great transaction, and everyone is happy -- including the buyer, who absolutely loves the home.
We are just closing on another property this week, which we bought through the MLS rather than the auction. We are in escrow in the 200-300 range, and we expect to sell this property for much, much more than that. The rehab is more extensive, but the profits will be much greater as well.
There is lots of investor money for deals like this, and I personally do some myself on a smaller scale, or with a group; either way, there is as much income for the savvy agent / investor as they are willing to do the work to find the deals.
Next month, I might start teaching a seminar on finding good flip candidates -- and there is an investor base that will fund the deals. How cool is that? Bring us a great deal, make the commissions, maybe even participate in the upside!
Let me know if you would be interested.
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