Looking for flippers... - Posted by Bob (Md)

Posted by Newbie on January 29, 2001 at 08:20:20:

Hi Bob,

I’m in Howard County (Clarksville) and I am just getting started in flipping. I’m currently still studying my flipping course, and I may be working with a mentor in our area soon. If you send me your criteria, and areas you are interested in, I will put you on my future “flip to” list. Everything in my area is 300K or higher, but there are some surrounding towns (Columbia, Laurel, Jessup, Highland etc…) that have older homes that go for less.
BTW, since you are in the area, are you familiar with Investors United? Have you been to any of their meetings or classes? I was thinking of attending a free class to see what’s up.


Looking for flippers… - Posted by Bob (Md)

Posted by Bob (Md) on January 27, 2001 at 16:25:35:

My problem is the reverse of most of the posts on this board. I’m looking to buy and rehab properties, and will probably live in one while I’m rehabbing it. I’d like to do two or three a year. My problem is that the areas I’m interested in are true sellers’ markets right now. I’ve tried going thru real estate agents. They can’t seem to find anything on the MLS that I could make a profit on. I’ve tried driving the neighborhoods and calling FSBOs (there aren’t very many of them!). They want retail prices and are just too greedy to pay a sales commission. Foreclosures are all being listed with realtors, who try to get retail prices rather than wholesaling them.

I would absolutely LOVE to hook up with someone that could find me properties that I can buy, rehab, and make a decent profit in the process. I don’t really care how much they make on the deal so long as I can make my money on the end.

I’m employed full-time and don’t really have the time to keep turning over rocks hoping to get lucky. My problem isn’t in the financing, it’s in finding something to buy! How would I go about finding someone who’s able to find and flip properties to me in this sort of market? Any suggestions would be greatly appreciated.

Re: Looking for flippers… - Posted by Houserookie

Posted by Houserookie on January 28, 2001 at 24:47:07:

What are your criteria?

I come across investors buying/selling/flipping
regularly. I might be able to refer some to you.

Re: Looking for flippers… - Posted by BillW

Posted by BillW on January 27, 2001 at 21:45:05:

Here are 3 ways to find what you’re looking for:

  1. Join local real estate investors association and network until you find your house.
  2. Find motivated sellers with ads, networking, etc. (lots of info here on how to do that!).
  3. Get to county tax records at clerk of court’s offices(they’re public records). If you don’t know how to research them, ask the friendly clerk. Find area where you’re interested in living. Check all owners. Look for owners of properties that have a mailing address DIFFERENT from the property in question, or an obvious investor type name (ABC Properties, etc.) These are the landlords/investors. Contact them, especially investors with multiple properties. It’s not too hard once you know who the players are.
    Good luck…BillW.

Re: Looking for flippers… - Posted by Pamela (MD)

Posted by Pamela (MD) on January 29, 2001 at 18:47:49:

Add me to your list. I am looking in the areas of Prince Georges, Charles and Washington, D.C.

Re: Looking for flippers… - Posted by Pam (MD)

Posted by Pam (MD) on January 29, 2001 at 18:43:08:

Please add me to your list. I’m looking in Prince Georges County, Charles County and Washington, D.C.

Re: Looking for flippers… - Posted by Bob (Md)

Posted by Bob (Md) on January 28, 2001 at 03:46:54:

Looking for the traditional “sweat equity” type of property where I can create equity appreciation by fixing the place up. I’m willing to look at places that need significant work. Need to be able to clear 15-20k after rehab. Must be livable if I’m going to occupy it, otherwise must be cheap enuf to allow holding costs while it’s being fixed up. No foundation or structural problems. Major mechanical problems - plumbing, wiring, etc - are ok.

Ideal property would be something like an estate, where family has inherited a really tired, old house that needs to be completely updated but is basically sound. Or, a repo/foreclosure that needs a good deal of work to be presentable. Prefer 3/4 bedroom townhouse, SFR or duplex - no condos. Looking in Frederick, Howard, Carroll, and eastern Washington counties in Md. Want to stay under $100k purchase price. Willing to take up to a year to rehab if I’m living in it - otherwise want to be able to put it back on the market within 90 days.

Re: Looking for flippers… - Posted by elena

Posted by elena on January 28, 2001 at 06:28:38:

Would you consider Anne Arundel County? Im in the process of putting together a list of people I can flip and will be searching the greater Annapolis area.

Put me on our list . . . - Posted by WayneMD

Posted by WayneMD on January 29, 2001 at 11:32:59:

Put me on your list Elena. I’m in Anne Arundel County and money is not a problem.

rehab projects - Posted by Bob-MD

Posted by Bob-MD on January 28, 2001 at 07:10:19:

Put me on your list for the future…not looking right now but will be in the future…always interested in a deal.