Look at homes that are not selling:
Often properties sit on the market and the price begins to drop. They came on high but they are sitting longer than the average days on market. This could be a good opportunity for a flip.
Stay Local
Continue to pound the market you know and turn every stone over. One of the benefits of keeping 1-3 towns is you can get to know them extremely well. Stick with a few areas and become the go to person to call if someone needs to sell their property.
Rent, Hold, Flip
Find a property you can fix up, rent for a few years to pay down the note and build appreciation. Make sure the numbers work on the rental for a potential pull back in rentals.
Talk, talk, talk
Talk to everyone you know about real estate opportunities. You never know who will be the person that leads you to your next transaction.
Doherty Properties LLC located in Lowell, MA is a leader in advising investors of large apartment complexex and multi-families on strategies to begin, build and maintain profitable portfolios. Consider joining our investment round-tables to learn more about the exciting process of flipping property.
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