search foreclosed homes in San Diego

Flipping San Diego foreclosures and REO's on a budget can be a challenge--but if you are handy with doing household repairs, it can be done. The secret to flipping San Diego foreclosures and REO's  with little money is not only your labor, but finding the right San Diego foreclosures and REO's.  Don't be shy! Now is the perfect time to contact us and let us help you find the perfect investment property.

Find the Right House

Step One:

Be upfront with your Realtor. Make sure that you explain the fact that you desire to fix-up your investment for resale, and only have about $5000 to invest in cosmetic repairs.

Step Two:

Take detailed notes and photos of each property that you visit. This will come in handy later, when you are trying to recall the degree of work that needs to be performed at each property.

Step Three:

Find the ugliest house in the nicest neighborhood and one that does not need structural or system repairs. This is the ideal type of house to flip. Cosmetic repair and updating will use most of your $5,000 budget.

Determine the Cost of Repairs:

Step One:

Price the necessary building materials at a big box store first. Visit the contractors' supply section, you should be able to get a good discount for the whole remodeling job.

Step Two:

Visit a used building materials supply store, they can save you a great deal of money if the supplies are in good condition.

Step Three:

Paint whatever you can, including appliances that are in good working order, but look old and used.
Paint is the cheapest and best way to quickly improve a house.

Step Four:

Determine which jobs you will need help with and call a local licensed handyman for an hourly rate. Enlist the help of friends and relatives; or hire local teenagers for jobs you need help with.

Tips & Warnings:

Keep track of the batch numbers or paint formulas in case you need to order more of the same color.

Sources of Cheap Supplies

Step One:

Stroll through large flea markets to find permanent booths. Some used building suppliers have been at the same flea markets for more than 20 years.

Step Two:

Browse the local classified ads for people that are advertising used materials and supplies. The local classifieds are a great source for used appliances in good condition.

Step Three:

Check hotels and apartments that are remodeling and talk to the owner or builder. You may be able to get used supplies or materials just for moving them out of the way. This is a great source for carpets, lights and cabinets.

Step Four:

Visit local thrift stores, such as Habitat for Humanity for used building supplies. The Salvation Army thrift store also is a good source for used materials and furnishings.

Step Five:

Search for scratch and dent appliances or overstocks at a local store. If you don't see any, just ask. Most stores have them, but do not publicly advertise it.

Step Six:

Look through the local phone book for building supplies and include the subcategories of used, recondition and repair.

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