Quote:
Originally Posted by roastbeef
yea... its still tough with deep pockets. i have two friends that partnered to flip a beach house and they each made about $9k after six months of headaches. the house was a couple mill.
i'm a bit more reluctant. i'm just a blue collar worker that has made some wise decisions with the guidance of people smarter than me, combined with the internet.
i don't know much about construction, and you really have to know what you're looking at when it comes to rehabs. you can't trust a contractor to give a damn.
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Yes, for those looking at residential RE investments may that be remos or even full tear downs its not rocket science as GC's like to make it sound. If you don't know about construction yourself but have a trustworthy GC who will not rip you off there is still money to be made even with RE market on the downturn.. more to be made in owner builder scenario. The challenge here in socal with present market condition is that most properties including tear downs are way overpriced and whats even worst the sub-contractor prices for same work performed back in 2015 had jumped some 30+% in the last few years. However, on the positive side if you do careful market research (location specific) and what finished properties are going for there is still room for profits.. the biggest challenge of course is coming up with the capital and i believe market wise we are on the definite tail end of things so timing may not be the best at the moment as any drastic changes in the market may leave you with a loss.