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Author Topic: *Flipping across multiple states.........  (Read 2679 times)

Offline FGonz8706

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*Flipping across multiple states.........
« on: January 28, 2010, 03:45:52 pm »
Hello,

Is it difficult to wholesale REO's is states where I do not live in? I've heard people doing it all the time, but is it difficult? What are the challenges? How do the people that do this overcome the obstacles? I live in California. There are a ton of foreclosures here, and I bet there's worse in other states. Please advise!

Fabian
« Last Edit: January 28, 2010, 04:11:50 pm by FGonz8706 »

Offline aaronwilliams123456

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Re: *Flipping across multiple states.........
« Reply #1 on: January 31, 2010, 10:34:07 pm »
If I were you I would focus in your state until you get at least 10 deals under your belt. It's not impossible but you need someone there on the ground to do the deals in your place. Just my opinion.
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Offline FGonz8706

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Re: *Flipping across multiple states.........
« Reply #2 on: February 01, 2010, 02:31:52 am »
My question is, If I can basically wholesale REO's without me actually being there. I am interested in flipping REO's "further" in my state. Far enough like 2-6 hours away from the town I live in. I've heard people do it. What are the "main" obstacles for this? Please, any advise needed!

Offline FGonz8706

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Re: *Flipping across multiple states.........
« Reply #3 on: February 08, 2010, 08:55:23 pm »
Hello,

Is it difficult to wholesale REO's is states where I do not live in? I've heard people doing it all the time, but is it difficult? What are the challenges? How do the people that do this overcome the obstacles? I live in California. There are a ton of foreclosures here, and I bet there's worse in other states. Please advise!

Fabian

Offline alex joungblood

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Re: *Flipping across multiple states.........
« Reply #4 on: February 09, 2010, 04:04:29 pm »
I always recommend that people start in their own backyard...

the REO game is all about building relationships with realtors and proving that you can actually perform on a property

it can be difficult to do that if you are not belly to belly with the realtors that you are working with

Offline ReCoachDennis

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Re: *Flipping across multiple states.........
« Reply #5 on: February 10, 2010, 10:57:02 am »
Alex is right on.

A good realtor should be able to help you locate a 'flippable' neighborhood not too too far from where you are.

Start there and get to know the area and establish a good reptuation for yourself.

Have you done a wholesale deal yet?

If not, start there- working with homeowners and flipping houses to investors is easier than the REO realm.

You'll start getting good contacts when you do wholesaling this way and will make for a smooth transition to REO flipping.

New Investors get themselves into trouble when they invest too far from their base location where they don't really know what the values are and the direction that neighborhood is taking.

Believe me, were a bunch of California investors- buying 'ocean front property' here in Houston Tx 7 years ago that got burned.

Dennis
Always on your side with Real Estate Investing Coaching and Mentoring. http://house-buy-coach-dennis.weebly.com

 




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