mattmorgus

 

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Matt Morgus

San Francisco Real Estate Podcast: Flipping a House in San Francisco - 101

San Francisco Real Estate Podcast: Flipping a House in San Francisco - 101

On this Episode of the San Francisco Real Estate Podcast, I speak about the basic ins and outs of flipping homes in the San Francisco Bay Area. Is now a good time to flip houses? What type of financing are you going to get: Cash, Hard Money Loan, 203(k) FHA Loan? What is a good profit margin in your neighborhood? Listen to find out on this podcast episode.

Excerpt from the Podcast:

Today I want to talk about house flipping 101.  

Is it still a good time to be flipping houses in San Francisco, Los Angeles, New York and Chicago or any other city across America?

Well, that just really depends on your market.

Step 1, go to your local library and out of the 20 books that are there on house flipping, pick the most updated version, of the newest book, 2017 preferably, and start reading that book.

Where do you want to buy a house? Where do you want to flip a house? I’ve personally helped clients buy and sell easily 25-30 flip homes in my career, maybe more. Plus, at this point I have personally done 4 for of my own, so I have my own personal research and my own personal experience on this.

Now to me, to be a good house flipper, you need to be living in the city or even the neighborhood that you want to be flipping house in. If you want to flip houses in San Francisco, if you want to flip houses in Pacific Heights, I would say you should be living pretty close to Pacific Heights. If you live an hour away, or two hours away, or across the country, and you want to flip a house in Pacific Heights, that's doable, but I'll say that it will be way more difficult.

Where are you going to get your cash from? How are you going to finance the deal?

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