Farming an Area to Wholesale

|, by Speaker, Featured, Linda Baumgarten|Farming an Area to Wholesale

Farming an Area to Wholesale

Want create site? Find Free WordPress Themes and plugins.

Question:

Hi Linda,

I just finished listening to Module 2 of Find It, Fix It, Flip It, or Keep It (www.ctreia.flywheelstaging.com) … and am working on “Farming” an area to wholesale. I am not sure what my priorities should be.

Right now I am looking at a particular neighborhood. I simply chose the area because it’s close to my house but still affordable. Here are the positives and negatives I see so far.

Positives:

  • Close to my house.
  • The neighborhoods are set up in such a way that the houses are similar for easy comping.
  • Houses range from $150 to $300 retail.

Negatives:

  • Houses are fairly old. Between 50 and a 100 years old. Do flippers want to deal with old houses like this?
  • Many of the houses are 3 bd 1 bath. I’ve heard flippers like houses with 2 or more baths.
  • As I was driving the neighborhood I saw a sign up saying “We Buy Houses” so I know there’s competition.

Any input would really help.

Thanks so much.


Answer from Linda Baumgarten: You’re doing great!

Rehabbers have to like old houses – that is all we have here in CT … lol !

Yes, they much prefer 1.5 to 2 bathrooms… and often they figure out a way to create another bathroom if necessary.

Everything will be reflected in the price … (1.5+ baths will sell faster and for more money).

There is always going to be competition. HINT: Call the “We Buy Houses” signs. Find out what they are looking for… maybe you will find a house for them or maybe you can help them find a buyer for their property.

Talk to a Realtor – find out how long it takes to sell houses in this town (days on market), what is the median price, what style/size/etc is most popular. If houses are selling in this town, everything else you said sounds good!

Did you find apk for android? You can find new Free Android Games and apps.
By |2018-12-25T00:51:07+00:00September 12th, 2014|Articles, by Speaker, Featured, Linda Baumgarten|0 Comments

About the Author:

ctreia

Leave A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.