Gagner: Bridge Equity Group does roughly six flips annually in NorCal
Mark Gagner · Use Friends Money to Make $500k Ethically with Mark Gagner of Bridge Equity Group · Jan 29, 2016 · at 4:34
Mark Gagner, founder of Bridge Equity Group, discusses deal flow and flip volume in the Northern California real estate market with Nathan Latka.
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“I do maybe only half a dozen fix and flip deals a year. But there is a decent amount of profit that is made on each one of those.”
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More from Mark Gagner
Gagner puts zero cash down on acquisitions and 10-15% on rehab
“So I'm actually to acquire the property, I'm not putting any cash into it, but I'm putting some of the cash into the rehab budget as well as the as well as the carrying costs. So I'm probably maybe 10 to 15% of my own money into the total deal.”
Gagner: Northern California flips consistently sell after two weekends
“Typically we're putting houses on the market and running two weekends of open houses and accepting offers that second weekend. And, They consistently sell in almost all cases in that kind of timeframe.”
Gagner bought a flip for $400k, invested $100k, and expects $700k
“So we bought it for, and this was actually a lower price point property, but we bought it for 400 K put about a hundred K into it and we're selling it for close to 700 K.”
Gagner: Bridge Equity typically nets around $100k profit per deal
“Typically we net somewhere around a hundred K give or take on a lot of our deals. More on some of the larger ones.”