3 Surprising COVID-19 Impacts on Flipping Houses

COVID-19 has created some dramatic surprises in just about every aspect of our lives, including in the world of flipping houses. In this video, you'll discover 3 unexpected CoronaVirus impacts on flipping houses. While certain aspects of how this pandemic would change real estate were previously discussed in this training, CoronaVirus Impacts on Real Estate Investing, the following shares with you 3 surprises that only those in the trenches, flipping houses every day, could discover. And they are particularly fascinating because financial experts didn't predict them and the mainstream media isn't reporting them either. Enjoy!

 

 

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Comments

  1. Doug Coffey says

    Phil, Some info to support your “3 Surprising COVID 19 …..” video. As a hard money lender, rental owner and picky flipper in Florida, in my area we are experiencing similar activities and market conditions near to your outline. It is also indicated Florida is gaining a greater out of state population increase from many fleeing the higher and dense populated regions. The influence of the increase population contributes to an additional group seeking homes.
    Thank you again for your videos, always thought stimulating and provoking. Many times I see your videos as a confirmation for something I am doing or consider doing. ABC……”Always Be Closing”.

  2. Hanako Nakamura says

    Hello! How are you? I am reading your book “how to be a real estate investor” . I am learning a lot. Thank you. I live in New York in Westchester area. Do you think it is good idea to get a license and work on real estate agency and learn everything in real estate business and become real estate investor for house flipping? I would like to hear your opinion about it.

  3. COREI Group says

    This video is primarily for lower priced affordable single family homes in middle America. The margins for flipping are getting tighter. It’s risky to buy in this uncertainty. Collecting rents as a Plan B is out and lending is restricted. I don’t see this as a “great time” to flip houses. Maybe later in the cycle once the banks auction them off at deep discounts, but not anywhere near current values.

    • Phil Pustejovsky says

      Your comment is void of any hard facts on why you think its “risky” and it sounds more like a general statement of opinion than a nitty-gritty determination based on real world facts. In other words, “Noise” rather than “Signal”.

  4. Michael Vinson says

    Hey Phil, answer this question for me. I’m in the Illinois market, with the new law on wholesaling, what do you think would be the best strategy for doing off market deals?

    • Phil Pustejovsky says

      If you are in Illinois, go get licensed as a real estate agent and hang your license with an investor friendly Broker. Other than that, it’s the same methodology as anywhere else.

  5. E J Jakso says

    Phil,
    Thanks for confirming everything I’ve been observing and, like you, came to the same conclusions. I’m more into purchasing properties to rent for income or to sell for rent to own situations and have always purchased properties withing a 30 mile radius of a downtown area generally in working class neighborhoods. I see a big opportunity coming.

  6. Gerry VandePol says

    Yes, major fluctuations.. listings way down, vacant luxury home. Sales down.. but still peeking in pockets. Seen a lot of deals not close.I see sub 2 and lease option sandwiches in the future…also, what’s your take on the impending devaluation of currency, banks tightening their belts,soon to be spike in interest rates,housing prices tanking, long term unemployment, social decay, and our government over reach , agenda 21 which is carved in stone, this ridiculous overblown virus…. you know there’s more to it… our slave masters are showing their hands…. have at it..

    • Phil Pustejovsky says

      We’re seeing most of our deals close (more than usual). I guess all the participants in the deals are no longer trying to act like the smartest person in the room by killing deals, but instead, trying to keep them glued together. As to all those other speculations; I leave those topics to others who love to try to guess what’s going to happen in the long term future. Meanwhile, I’ll keep collecting profits in the here and now.

  7. Sam Ramahi says

    I live in Westlake Ohio And I’m looking to get in the area do you recommend somebody directly work with

  8. Moussa KRIZOU says

    Thanks Phil, I really enjoyed your video. I’m willing to buy my own home but I’m still confused about the market. I have 70K cash and I didn’t find the appropriate house in Chicago area. How I can do, and what are all the steps to close the deal?
    Thanks

  9. LISA A GUERRERO says

    Glad to hear that. You did your homework! I have a home I’m remodeling. And that’s hard .. when I ever get it done, I may live in it, sell as is or rent out. It’s a hard decision too. in a time like covid19.. I’m doing with what I have and saving for the best passive income- home business..then I’ll be out of here!!.. lol

  10. Assanta Gathing says

    Thank you for that helpful information i’ll definitely keep following to stay informed with the changes that are happening. Stay well stay safe🙋🏾‍♀️

  11. Mike Hughey says

    You say it is great right now? I think that is a broad Picture. It depends where and what city and certain pockets of the area. U dont think you can say that for everywhere across the nation nd it would be good if you could show some actual stats that prove what your saying and zero in certain locations. I live in the San Fransisco Bay area and certain pockets are hot and certain ones are dead within a few miles of each other. I have 3 flips going on right now all started before the Corona Virus and I had to finish them and move forward bc they were already started and was already deeply invested.

    Looks like I am aboiut 30 days away from marketing and hope things Get better and stay strong.

    • Phil Pustejovsky says

      We’ve seen this pattern across America, from New York City to San Francisco. As I pointed out in the video, there are always exceptions and, of course, real estate is very localized so it is possible that some pockets are just lousy right now for house flipping; but if they are lousy now, they were even worse a few months ago. COVID-19 has made it easier to sell a house that you have fully renovated everywhere; but obviously some areas are so terrible that even with the wind at your back, it’s still tough going.

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