When someone gets into fixing and flipping properties, they may be surprised to discover that one of the biggest challenges in this field is not the fixing or flipping of a property, but finding a worthwhile property to fix and flip. The difficulty in identifying and purchasing valuable properties is especially challenging for flippers based in extremely competitive housing markets. If you are encountering difficulties in locating a property to fix and flip, do not fret. There are strategies you can utilize to position yourself to get access to valuable properties. For example, you can network with local wholesale real estate investors. This simple act of getting to know local real estate investors can significantly improve your odds of locating valuable properties to fix and flip.
Benefits of Networking
Wholesale real estate investors focus their time and efforts in locating distressed properties that have significant potential to be fixed up and flipped for a large profit. Basically, a wholesale real estate investor is willing to engage in the tedious task of driving to home auctions and searching legal records with the goal of locating worthwhile properties to be flipped. These investors will negotiate a sale contract with the homeowner, then transfer that contract to you for an agreed-upon fee. In many instances, wholesale real estate investors have the ability to purchase properties at a price low enough to enable you to secure a significant ROI.
Not all investors are the same and you need to ensure you are working with someone who is reputable and capable of assisting you accordingly. For example, a skilled wholesale real estate investor should understand how to calculate ARV and look for properties where there is profit available in the assignment while leaving plenty of profit margin for you, the flipper. They should also be comfortable and understand if you are working with a hard money lender in Los Angeles to help finance your projects.
We remain in the midst of the Coronavirus pandemic, which makes any networking efforts more challenging. Nevertheless, there are digital networking avenues to explore. For example, many wholesale investor groups have agreed to host Zoom conference calls to meet with new real estate investors from which provide advice and successful property acquisition strategies, along with an array of other real estate-related tips to take advantage of available properties in your local market.
In Need of Hard Money Loans in Los Angeles?
To learn more about how to finance your next real estate project please contact the leading hard money lender in Los Angeles, PB Financial Group, at 877.700.3707 to schedule a consultation or visit www.CalHardMoney.com. PB Financial Group is a premier direct hard money, private money and bridge lender, who has been providing quick funding since 2006 and have funded over 2700 hard money/private money loans. Our objective is to work to satisfy your financing needs on important real estate projects throughout California in an efficient and effective manner.
PB Financial NMLS #357614/DRE #01522495
