Unconventional House Flipping Tips for San Diego Investors
Investors are constantly looking for new strategies that allow them to find viable inventory in tough markets. San Diego, in particular, provides investors with plenty of challenges. However, house flipping tips for San Diego markets are readily available. You just need to know where to look.
Those that have been in the game for just a few months may believe that they have heard of all the house flipping tips they need. Plenty of tips are available for those who want to pursue foreclosure auctions, tax lien certificates, mortgage notes, bid on REOs, estate sales and probate properties. In the sizzling San Diego housing market, many real estate investors may still be coming up short on their goals after trying their hand at some of these strategies. So what else is there?
There is a substantially large, virtually untapped, market of highly motivated and flexible property owners in San Diego County that can make excellent prospects for those looking for deals. While this may certainly be amongst the most unconventional house flipping tips for San Diego, it is worth looking into.
Why not go after other real estate investors?
Do not do so with the intent of competing, but instead by serving their needs. There is a surprisingly high number of real estate investors that are struggling and willing to look for alternatives to their current strategies. Not only do they understand creative financing and investor demands, but they can be a great source for deals as well.
There are really two categories of these struggling real estate investors. The first of which is comprised of legacy deals from the last boom. Many are underwater, dealing with negative cash flow, or out of cash to rehab. This puts them in a position to make great short sale and foreclosure deals.
The second category consists of those that have made recent acquisitions. Many rushed in without thinking, ran out of cash, have unfinished rehabs, are in negative equity, did the wrong rehab work, have poor marketing, are dealing with other life situations, and some scooped up multiple properties in bulk sales of which they want to shed quite a few.
If you know what you are doing, these deals can be cash cows and easy to close. So network, network, network. Offer help, create win-wins without putting them down or making them feel inferior, come to the rescue and earn a great income doing it. Again, while unconventional, these house flipping tips for San Diego could make the difference between a good year and a great year.