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Tips and Tricks to Find a Good Flip

Written By: Jamie Goodvin of RE/MAX Alliance Team Goodvin

1) Hire a Realtor that knows how to be creative to find deals. #thinkoutsideofthebox

2) Ask your Realtor to send you weekly foreclosure notices. This can be done through your local County Public Trustee's website.

3) Have your Realtor set you up on all the major real estate auction sites. Several Asset Managers and Servicers utilize auction sites to encourage a quick sale.

4) Find a good Wholesaler that services your area. Let the wholesaler do the heavy lifting on finding distressed situations.

5) Build your team of subcontractors that can do a quick pre-offer inspection. I recommend a licensed roofer, electrician, plumber, and HVAC tech at the minimum.

6) Have your subcontractor team and Realtor prepare a repair addendum. This will give you an idea of how much time and money the project will take.

7) Have your realtor determine the current market value and the ARV. This will work as a negotiation tool and help you decide what to offer.

8) If you don't have 100% cash consider a lender that can utilize an in-house manual underwriting system. Most of these properties will be in a C5 condition which means getting a loan can be tough.



Still got questions? Call/text me at 970-324-4748 I'm happy to help.

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