9 Jun 2012 · by Virtual Results
Believe it or not flipping is back on the Real Estate scene and out of all places Downtown LA its on fire.
Investors are buying REO’s and Short Sales and are able to flip for a profit in less than one month.
The shorten supply in Downtown is creating a very hot market and most properties are selling with multiple offers. One particular building, Luma, its the best example of that. In one case and investor bought a one bedroom Loft for $370k and were able to flip two weeks later for $499k.
The opportunity is here, especially for those who can pay in cash.