Peter,
Everything you mention is in a higher dollar range than I have dealt with except for my primary. I don’t look at flips for myself(have helped others) and the only time I will be a flipper is if the opportunity knocks accidentally,unless we have another run -up in my lifetime. I can currently find successful cases, after the fact, looking at the MLS.This is a good reminder to practice finding them though.
I wrote “small time”, in my post above, because it was important to the argument.Knocking off one opportunity at a time slowly now or at any time.My roots are in the ghetto and I will go back when I am not busy and can regroup from current activities. As a landlord I am pretty comfortable anywhere. I could go find something now, like a 2/1, 2/2 or 3/1 and add a master and get decent cash flow and cost effectively improve the asset w/o much fear. A little bit nicer areas like Rolando, Mira mesa, hopefully Clairemont soon, maybe even better areas could be done with detached and aggressive bidding on good candidates. A lot with a single with duplex or two on one potential somewhere and I don’t really want to say where, could be a good opportunity. Hopefully there will be more areas suitable for this as time passes. Splittable rural lot that has the right infrastructure conditions. I bought a lot 2004 and built my primary and am now building a second legal rental and think doing it again might kill me so we will skip that one. I saw an easy build lot go into escrow the other day as a short sale with electricity and a well that I think it sold at a very suitable price.A decent 40 acres are for sale near me for 295K, no instant gratification but a good long term opportunity and maybe they will have to take less.
I don’t think it’s easy yet without sweat. Probably people like the group SDR brought up on another thread, buying at the court house have been doing o.k. If I had more capital I might do that. If you haven’t been there it is interesting. Looks like everyone has on their best lucky casino shirt!(Just kidding but I did see a lot of loud casual shirts when I went)
Many low end condos cashflow, condos are not interesting to me now.
Anyway like I said it isn’t like there are opportunities everywhere that people are comfortable. Good for you for considering pushing that issue. I guess I should get it through my head that piggs are generally too rich for what I know. I do think my argument is defensible though. The parameters that work, with reasonable risk, just expand from here on out.
