The Importance of Sticking to Your Buy Box as a House Flipper with Gabe Cole
Home flipping continues to hold its ground as a strategy in real estate investing, even with changing market dynamics. On this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Gabe Cole, a home flipper based in Southern California. With his experience and success flipping hundreds of homes, Gabe shares the ins and outs of navigating the challenges of one of the nation's most expensive markets. As a licensed real estate agent and the founder of REALM Residential, brokered by Real, Gabe offers insights into the strategies that have enabled him to thrive in this competitive industry.
Gabe shares his path into the industry, initially guided by his father-in-law, a top-producing agent in their market. As Jonathan and Gabe explore property identification and buying within and outside a buy box, he offers thoughts on navigating Southern California's high-priced, low-inventory landscape. From knowing the end buyer for a flip to building relationships in raising capital, Gabe's expertise shines. He emphasizes creating systems, processes, and appealing designs. Gabe's story uncovers the time freedom his career affords and underscores that you can still create success in the fiercely competitive Southern California market.
Jonathan and Gabe cover more in-depth:
Becoming a licensed agent before entering real estate investing can teach you valuable skills you’ll need later, such as how to comp properties, valuation, and negotiation.
Whenever Gabe has purchased properties outside of his buy box, he loses money. As a result, he sticks to his buy box criteria and remains profitable.
Systems and processes are crucial for managing a flip business that does multiple flips simultaneously.
If you want to do more than one or two flips per year, you’ll have to build relationships and find private capital.
Home flips are still profitable, even in California’s volatile market, and Gabe Cole continues to create success in this pricey market.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/139 .