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Results from our survey of #FixAndFlip investors are in. The fix-and-flip market is clearly cracking: higher rates have shrunk the # of buyers + the # feasible deals. Buyers are also cautious about overpaying given falling prices (cutting into flipper margins).
COMMENTARY🧵->
COMMENTARY🧵->
#Atlanta flipper: “Much higher risk environment due to rising rates. Sellers still have not reset expectations from earlier this year, so acquisitions have essentially come to a halt.” (2/19)
#Baltimore flipper: “The market for fix and flip has turned. It is now a buyer's market and there are a lot of investors competing for the same property. I have put in several offers on a few properties that have good potential but have not been able to get the contract.” (3/19)
We @JBREC just surveyed 400+ flippers about #fixandflip conditions in partnership with Flatiron Realty Capital and @SundaeHQ.
Key takeaway: There is a TON of competition for deals right now.
MARKET COMMENTARY THREAD 🧵 ->
Key takeaway: There is a TON of competition for deals right now.
MARKET COMMENTARY THREAD 🧵 ->
#LasVegas flipper: “Market is oversaturated with inexperienced investors due to an increase of “gurus.” Supply is low, demand is high, and prices are inflated 20%+ over ARV. Not sustainable.”
#Phoenix flipper: “Phoenix is a very active market with home prices on the rise. The competition is aggressive.”
