One of the questions that people often ask me is how does one find a good property in Southern California to “flip”? There are actually about 60 specific ways to locate a property that can be purchased, rehabbed (repaired) and resold for a profit – “flipped”.
As a full-time investor “flipper” I have flipped hundreds of homes and over the last 8 years nearly 100 properties. The primary way that I find my “flip” properties, and what I recommend to new or seasoned real estate investors, is to network with as many local Southern California Realtors as possible.
Network With As Many Local Realtors As Possible!
Don’t just meet one or 10 Realtors, but I mean meet and have hundreds of Realtors help you find the perfect deal! That sounds difficult, but it is not. There are thousands of licensed practicing Realtors in Southern California who interact and talk with thousands of homeowners each day about buying and selling real estate. Realtors are your property finders and if you treat them with respect and impress upon that you are worth working with, they will bring you deals.
Why Would A Realtor Help You Find a Good Deal?
Realtors want to work with buyers and sellers and they also want and should be working with a few experienced investors “cash buyers”. You want to be one of the investors that they keep in the front of their mind when a good deal comes their way. If you present yourself like a pro and eventually become a pro, they will call you when that good deal comes their way.
How Do You Present Yourself Like a Professional Investor!
You have to start somewhere. Every investor started as a “newbie” and that’s okay! The way you present yourself like a seasoned real estate investor is to become confident and knowledgeable about as much as you can about “flipping” properties. To be more specific, be ready to purchase a home when a deal is presented to you by one of your Realtors. Have your proof of funds (POF), your buying entity, a corporation or an LLC, and know where to find your lending sources, such as a reliable private hard money lender, before you look at any property or make an offer. Also, find your contractors and handymen and go and look at some of jobs and inspect their work.
What Types Of Properties Should I Be Expecting From My Realtors?
What you should be looking for are “off-market” deals. What this means are properties that are not listed on the (mls) multiple listing service. In this market, the competition is so fierce that deals that are on the mls are not going to be good deals and are not deals that you should waste your time pursuing or inspecting. MLS deals are being watched and hunted by the masses and thousands of investors. People will over pay for these properties and they will pay the prices that I won’t pay and you shouldn’t either! You want Realtors to call you when they have a property that has not hit the market and has not been shopped around. You want to become the special investor who one of your Realtors call to come look at the deal before anyone else. If you follow my advice in upcoming articles, you can learn how to become a professional real estate investor!
To learn more about how to locate Southern California “flip” properties, contact Jay Green at (714) 747-1912 or email him at [email protected]
