REO Auction Academy
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01/24/2023
Welcome back, everyone. It's Paul, Mike, here with the virtual investor. Today we will discuss a sample real estate deal that we got from a real estate wholesaler. We will analyze the property from several different perspectives. We will review as a fix and flip, and as a buy and hold (rental property). Two different perspectives.
This is what the property looks like. To put things in perspective, it needed a full rehab and it needed a roof. When I say full rehab, the inside needs everything to be updated, and the property needs a new roof.
This is the comps of the area using Zillow sold homes. Filter by square footage and start with just looking at the last 12 months, and then we could narrow it down to the last six months to see what the trend is.
But from this perspective just comping the development. We sorted it by low and high real estate prices. Look for similar type of property.
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Discover the Key to Analyzing Real Estate Investment Opportunities Welcome back, everyone. It's Paul, Mike, here with the virtual investor. And Mike's gonna walk us through a sample deal that we got from a wholesaler, and we...
Today what I want to talk about is kind of year in review. We're December 15th here, but this particular article I want to get into is talking about home flipping in a third quarter, declining in 2022 here, and makes total sense obviously, right? Because we had interest rates go from near record lows in early 2022 over 2.75, 3% to as high as 7.22% here in around September or October of 2022. So we never had rates increase at a rate like this. And of course, it's all due to demand destruction created by the Federal Reserve, which has caused all this chaos and demand destruction, which is what they're trying to do. As we see here in this article, home flipping declines again across the US for the third quarter of 2022. It was faster of profits at 13 years low.
So we saw the transaction go from 7.5% of all home sales in the third quarter, right as flipping transactions right down from 8.2% earlier in the year, in the second quarter. And I expect to see that decline even more in the third quarter and even more in the fourth quarter of 2022. And then of course we'll have that uptick and a lot of its natural right at the end of the year, especially in the fourth quarter, you're always gonna have that downturn. Investors either are getting rehabs at the end of the year, like around now. We pick up a lot between say October and January preparing for the spring and summer flipping in, the following year. So this is kind of a lot of it natural, but the third quarter doesn't usually drop like what we have here. But this was a hundred percent rate-driven and demanded destruction by the Federal Reserve.
WANT TO LEARN MORE ABOUT REAL ESTATE INVESTING STRATEGIES? TUNE IN WHERE WE TALK REAL ESTATE...
š» REO Blueprint will get you started in online real estate auctions today https://lnkd.in/ey-kHNNY
š OUR PROPERTIES FOR SALE
https://lnkd.in/dVMNRj89
ā
Join the Virtual Investor Community
https://lnkd.in/ddGW8aaJ
š¦š§ What is Creative Financing? Learn 3 Ways to Make Money from One Property. Cash Now, Cash Flow, Cash Later
https://lnkd.in/d5Sx4m5g
š°šµ Need Money for Your Investment Property?
https://lnkd.in/dcQ9xD7T
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