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I met a guy the other day who does this for a Nike Black Down Jacket
SHORT SALES FLIPS vs
and Vegas are probably somewhat similar markets. Your agent could be telling you the truth. The data I have are just averages and I am sure there are some people who are buying cheaper and some who are paying more. It just that the average purchase price at trustee sales has been trending up and you have to bid on more and more properties to get one.
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I am in Vegas and have been in touch with an agent who specializes in fix n flips purchased at t sales. He claims the spread on average is 20%, turnaround time approx. 60 days, 20 closings a month. He makes his money when the property is sold to an end buyer. According to the agent, it isn even a rehab since the budget is never more than $2500 per deal, just a super light cosmetic touch up and it on the MLS with multiple offers, mostly from Canadian buyers.
Originally posted by Vikram C.:In the Phoenix Metro, the average trustee sale that is sold to third parties is priced at around 80% of ARV. Too many bidders. This is partly because it is very easy to bid on a property using a bidding service so everyone is into it.
living and he said he now bids on 100 properties to get one at 70% of ARV. When you count his cost of checking out the 300 properties or so to find 100 to bid on, his real acquisition cost is probably close to 80% Nike Down Vest Mens
It hard to imagine Phoenix being more competitive in bidding than Vegas which makes me take a step Nike T Shirts Boys back to look into this realtor model more thoroughly.
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