I started doing rehab/flips in the mid 90’s in Los Angeles and after that, new construction of high end specs in the city and small subdivisions in the outlying areas of Riverside County. Like alot of homebuilders in this region, this real estate depression here has erased all the wealth I’v built over the years.
Im looking to start over again in Texas and in particular the Dallas fort worth area. Need to build momemtum again by doing rehab flips and this time building a cash flow strategy as well. I have been in contact with many reo agent in town to get a feel for the sentiment in the marketplace so I am at least confident this market is somewhat viable.
Why would you want to leave Cali? Especially right now with Cali home prices being compressed and the market bottoming out that means values can only go in the upward direction. 2 years ago you could have made a strong case for leaving but I consider Cali at the embryo stages of a reemerging market that is still fundamentally sound.
Sure your going to have to dig a little deeper to find solid deals to flip but that just means your going to have to be very creative in your approach ie… short sales, nod’s, maybe buying at the trustee sales,posting signs around your local area,you get my point.There is not a more desirible location in the country to live than southern Cali and that is never going to change. But if you still want to go to Texas my advise would be to focus on monster deals with lots of profit potential that will make your radical move worthwhile and can absorb the dummie tax that we all have to pay when moving into new markets .