profits in Bay Area CA?

[commuterlane]

I am in the Bay Area of California and I am new to the investor life. I have tried to find properties that can be bought, fixed up and sold (flipped) for a profit....but so far I have had no luck. I have worked with an agent but every contract we submit is out bid by a large margin. There are multiple bids on most properties. Any help would be appreciated.

[investinAK]

Have you tried any of the MANY FSBO sites available on the net? Here are a few that I like to search on a regular basis.
www.forsalebyowner.com
www.virtualfsbo.com
www.recycler.com (a "thrifty" paper in CA)
www.sellmyhome.com
www.ownerwillcarry.com(AWESOME site!)
www.calforsalebyowner.com

You may be able to find some deals on there...:)

[David Whisnant]

I would suggest that you not look for deals through an agent.

It is VERY hard to ever find good listed deals. Agents often quote sellers high prices to get the listing, and the really good listed deals are snapped up before they even hit the market. (Pocket listings).

You really need to develop a marketing program to find your own deals so that you get out of the competition.

FSBOs are o.k. I would suggest that you start with landlord owned properties that are not currently for sale. You can narrow that focus down to properties that are currently for rent, or ones that have an eviction going on currently if that list is too big.

The easier it is to find the deal, the worse the deal is!

All the best, and I hope this helps!

David Whisnant, JD
http://www.4-real-estate-investing.com
PS For a sample of one of my marketing programs, come by the site and check out the free package. Thanks!

[Dan Auito]

Folks just in case you didn't recognize that name above, David Whisnant is an Attorney and one high flying successful investor! He played low key here but I encourage you to go over to Davids site and investigate what he has to offer. Dave is big time without the fluff! :praise:

David, I thank you so very much for coming on board, I look forward to your insights for years to come. :praise:

[Just Information]

I am in the Bay Area of California and I am new to the investor life. I have tried to find properties that can be bought, fixed up and sold (flipped) for a profit....but so far I have had no luck. I have worked with an agent but every contract we submit is out bid by a large margin. There are multiple bids on most properties. Any help would be appreciated.

You are in a vary hot and popular market in California.

What percent to market value are you trying to purchase at?

[Brian Barringer]

You should do what everyone else in the Bay is doing, invest in Tracy, Lathrop or Manteca. Out there you will win more bids because most are first time buyers with 100% fininancing, it is not crazy like the bay where people are bidding more then appraisal value because they are comming in with big money from the sale of their previous home. Now the market is so hot you could buy a home that is not being marketed right and not do a thing to it then sell it 3 months later for profit. Too many people are making to much money out here.