Conservative Underwriting Is The Key To Success
Your success is our success. At Fliplist.com we want to make sure that we only bring you deals that we would buy ourselves. Our underwriting team follows a strict process of approval before it gets to our investors. We compare properties directly from the MLS and take into consideration many facts to make sure that the numbers are highly accurate. In fact, many times our investors are able to spend less money than we think the property would need, and sell their property for more than what we think it would sell for. We stand behind our numbers and our investors keep coming back!
So What Kind Of Deals Are We Looking For?
Good question! Fliplist.com is giving you a fair advantage by targeting HOT areas and off-market properties that usually need some work to add value. All of our properties are already below market in rental areas for a solid passive income, and in low to middle class areas with instant equity. This kind of targeting, along with our underwriting process, allows us to make sure that your exit strategy is solid.
Our 4-Point Targeting Method
Solid Location
- Low to middle class desirable neighborhoods
- No war zones
- No rural areas
Type Of Property
- Single Families and Multi Families
- Duplexes, Triplexes and Quads
- Mobile Homes and Townhouses
Condition
- Value added older homes
- Need some repairs
- Neglected or vacant
- Turnkey for rentals
Price Range
- Below market value
- For Fix & Flips, we try to stick to ARV of the median price where it’s perfect for first time home buyers.
- For rentals, we stick to at least double digit CAP rate.
Our Underwriting Rules
After we define which areas and type of properties we target, we get to work and start bringing you deals. This is how we analyze a deal and make sure that the numbers work for your exit strategy.
- Same subdivision
- Do not cross any major roads, rivers etc.
- Within 1 mile, preferably up to 0.5 mile
- Same beds
- Same baths, 1.5x max
- +/- 200 sqft
- Older houses to older houses
- Similar types (Bungalow, 2 stories, historic)
- Similar siding (Bricks, vynil, wood, frame, block)
- Similar features (Pool, garage, carport)
We always assume a full renovation just as you would if you bought a property from an auction! Only this time you have HQ pictures and transparent details about the property.
We always try to show a wide range of comps and try to provide at least 5 solid comps that we feel comfortable with.
For rental properties, not only do we look for solid rent rates in the area, but we make sure that you still have some equity. After all, you’re making money when you’re buying.
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