Flip Tip Summary
In many markets across the country, builders are back in a big way…especially those building custom homes in existing neighborhoods. There’s a huge opportunity to wholesale deals to builders at numbers above what traditional buyers will pay…as they don’t care about what the current property is worth…just whether the total project makes sense. Given that they’re generally adding on more square footage, they’re likely willing to pay more. Tucker Merrihew shares more with us in this FlipNerd.com Flip Tip. Don’t miss it!
Flip Tip Transcript:
Mike: Hey it’s Mike Hambright from FlipNerd.com and we have a quick VIP Tip to share with you from Tucker Merrihew, who is going to share the biggest opportunity that he sees right now in wholesaling today.
Tucker: All right guys, so for all you guys listening out there and watching us here, I would say the biggest opportunity right now in wholesaling is to provide product that people like me and other infill builders can buy, knock down the existing house and build a new house. The product that you would want to be looking for is in the mid level to higher range neighborhoods, and you want to target two bedroom, one bath, smaller, probably 1,000 square foot, smaller older homes.
For us we’ll knock them down, and build a nice newer home there and we will build in our margin by what we can build it for versus what the retail market will per square foot. But for you guys that are out wholesaling, there’s so much demand right now for that type of inventory that you can really target those types of properties with your marketing. And then team up with somebody like me and we’ll be happy to pay you a big fat check in order to give us inventory.
Mike: Thanks for joining us for another FlipNerd.com Flip Tip. To access hundreds of tips and full expert interviews, please visit FlipNerd.com or join us in the iTunes store.
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Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.