It's a new year and I enter it with a debt load that I wasn't counting on. My first order of business for 2010 is to flip one property for $5000. I need to jump start this year with some quick cash. I have 5 investors that I am working with and they all want me to find them Califonia cash flowing properties. This is a good time to find those, so here we go!
This week I will be looking at all MLS properties that are priced under $75K. I use this number because the market rents in this area can go as low as $850 and I need to make sure we can cash flow. If your market can rent for more, your price can be higher. I'll be looking at the price, the cost of repairs, and the rentability of its location.
TIP: Remember that flipping properties is all about the buyer's list. If you are flipping to investors, get familiar with them and what they are looking for. If you are flipping to homeowners, make sure the market has a good amout of buyer activity. The last thing you want is to buy a property that no one wants to buy from you. Find your buyer first!
