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Are you thinking about flipping houses in Fresno CA? It’s a great idea, but you’ve got to be prepared for the market.

I’m not what you would call a “California native.” I moved to California well into adulthood and fell in love with the weather, beaches, and people. But when I started looking for a house, most of them were well out of my price range. So I found myself moving inland, and to this day Fresno remains one of the few places where a person can purchase a home without a huge family investment.

Shortly after I moved to Fresno, I started dabbling in rentals. And then I started flipping houses. Fresno remains a uniquely perfect place for house flipping—and it’s not exactly a well-kept secret. If you want to start flipping houses in Fresno, you’re going to be up against some tough competition, myself included. But you’ll quickly see why it’s still a great place to get started.

Flipping Houses in Fresno CA

Why are houses in Fresno, CA so affordable? Compared to other Californian markets, they seem unusually low, but this has to do with where Fresno is located. Not only is it firmly landlocked, but it’s also distanced from any of the major economic centers.

Both of these points explain why Fresno is so affordable, but neither make the city a less attractive place to actually live in. People who don’t want to live and work in bustling cities are frequently eager to make Fresno their new home.

Why You Should Consider Flipping Houses in Fresno CA

The low price points of Fresno houses (compared to houses in the Bay Area, for example) mean that the property market is still accessible. And you don’t have to worry about it being tapped out. Fresno is still one of the largest and most population-dense cities in the state—there are constantly people moving out and in.

That being said, even though the price points in Fresno are low for California, they’re still pretty high; you’ll be dealing with valuable properties, not teardowns. The property market in Fresno is broad with a lot of incredible opportunities for low-risk remodels and updates. Let me share a few tips that I’ve learned from investing in this area over the years.

Tips for Flipping Houses in Fresno CA

The challenges you’re likely to experience in the Central Valley will largely boil down to:

  • Competition. A lot of people are moving into the Fresno market because it’s so affordable.
  • Getting leads. Because Fresno has always been a desirable place to live, there’s already an established and strong real estate market.
  • Finding funding. In a hot market like Fresno, it’s better to have a cash offer in hand.
  • Getting started. If you’re looking for your first flip, you still have a long way to go in terms of training.

Starting a house flipping business is starting a business. In addition to following these important tips, you must do your due diligence and create an effective business plan. Here’s how:

 1. Get Creative With Lead Generation

There’s a lot of competition in the Fresno market. It’s not just from house flippers; it’s also coming from landlords. Rent in Fresno has been skyrocketing, which provides a lot of opportunity for investors.

If you want to find houses to flip in Fresno, you have to be creative:

  • Take a look at preforeclosure homes.
  • Use “distressed property” tools.
  • Look at online listing sites.
  • Network with local real estate professionals.

If a property is already on the MLS, you’re probably out of luck. Even an “old” or “ugly” home is going to get an offer. If it doesn’t, it’s probably overpriced.

 2. Use the Right Tools

How do you figure out how much a house is worth, how much you’re willing to spend on it, and how much you should sell it for?

There are a lot of tools that can make your job easier, including services that help you find distressed properties at the click of a button. The more you lean on these tools, the less time you’ll spend trying to find your next opportunity.

 3. Find Funding First

There are a lot of options for new investors. You can fund your own flips, go with conventional investor loans, or leverage hard money lending. But you should always have your funding sorted out before you hit the market.

There are a few reasons why having cash on hand is ideal:

  • If you want to invest in auctions or REO (bank-owned properties), you may need to have cash on hand already.
  • In a hot market like Fresno, having an all-cash offer can mean the difference between losing and closing.
  • A lot of traditional or conventional lenders don’t want to invest in properties that need a lot of work—which can cut out some great opportunities.

That doesn’t mean you need to have hundreds of thousands of dollars burning a hole in your pocket. But consider looking for funding options that will let you hand over cash to home sellers then and there.

 4. Invest in Training and Mentorship

Fresno isn’t a super high-risk market like Los Angeles, but there still are issues that you’ll run into—especially when the market is hot. Sometimes, what you really need is additional training and a mentor who can give you a sense of perspective.

Mentors can give you key insights into the market, introducing you to potential leads and prospects. Those who have been in the industry for a long time often have a niche—they can send clients your way that they don’t have time for or don’t have any interest in. They can also help you network with key players in the industry, introduce you to trustworthy contractors, and help you build your processes and strategies—all things that you would otherwise need to learn from direct experience.

Start Flipping Houses in Fresno CA the Right Way

Flipping houses in Fresno CA is a great business decision. It’s one of the only markets in California where you can still find opportunities with a low barrier to entry. But you still need to create a business from the ground up, and that isn’t easy.

If you’ve done everything right, it shouldn’t be too much of an effort to sell a flipped house in Fresno. But there are a lot of steps in between. You have to find financing, find the right house, complete the work on the house, and get it to market. And while Fresno is a great place to get started, there are still some things that can potentially go wrong.

I looked into a lot of training, seminars, and coaching services when I first got into real estate, but eventually I settled on the purchase of a HomeVestors® franchise. A HomeVestors franchise really is an all-in-one solution; you get the training, mentorship, and the proprietary tools you need to get the job done.

HomeVestors can help those who are new to house flipping by providing training, tools, and networking opportunities for anyone who wants to learn how to invest—even in an exceptionally hot market like Fresno. If you’re interested, request more information and get started today!

 

 

Every franchise office is independently owned and operated.

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