Competitive market research is important.

Finding your competition, knowing what deals they are doing, and how those deals are performing, provides valuable insights to inform your investing strategies and market assumptions.

For real estate professionals and home services businesses who consider Flippers to be one of their best customers, the techniques covered in this video will help you find, know, and connect with the Flippers in your market.

Use PropertyRadar to:

  1. Uncover an opportunity that you do not have the capacity to pursue alone, or you’re just looking to connect with a fellow investor.
  2. Find and know who the Flippers are in your market.
  3. Uncover insights about where the opportunities are…or are not.
  4. Reverse engineer recent Flipper deals to ascertain their ROI and validate your own market investment assumptions.

By knowing your competition, you can find and turn a competitor into a friend, partner, advisor, or even a wholesale customer.

Using Transfer Search

Transfer Type

For finding flippers, start by searching for specific transactions using Transfer Search.

Access Transfer Search from the main menu, and go to Search Options.

Under the Transfer Tab, clear everything and then just check Market Flip, Short Sale Flip, and REO Flip.

  • A Market Flip is a full value transfer, arms-length transaction, was not in foreclosure, and and the property was resold to another owner within 6 months. 
  • A Short Sale Flip is a market transfer where the sale amount of the prior sale was less than the estimated total loan balance at the time of the sale, and the property was resold to another owner within 6 months. 
  • An REO Flip is a market transfer of a property that was bank owned as a result of a trustee sale foreclosure auction, which then resold to another owner within 6 months. 

Note that you can also limit your search to a specific Title Company. This is handy for title industry professionals.

Are there Flips in the market that take 7, 8, or 9 months or longer? Yes, and we’ll miss those transactions with this starting search, however, once we identify the Flippers, we’ll pick up those 7 months or greater transactions by searching for specific Flippers using the Sellers names criteria in Transfer Search, or even better, in Make a List. 

Date Range

Go to “Date Range” next to the search bar and click “Custom”. Start with the past 365 days to see activity in the last year. You can expand this to an even larger date range if necessary to pick up low-volume Flippers.

Location

For this example, we are identify Flippers in Sacramento County. Select California for the state and Sacramento for the county. 

Alternatively, you can search a location by using the map. The map allows you to draw a radius or polygon around an area you wish to focus on. 

Use heatmap and boundary layers to help you see your market with more distinctiveness.

Property Details & Value & Equity

Under the Property Details tab, de-selcect all, and then just select Single Family Residences. 

Of course, you can expand the search to include other property types such as condos, multifamily homes, and multifamily apartments. 

Under the Value & Equity Tab you can select your desired estimated value and equity ranges.

Transfer Search Results

Run a search. 

The Transfer Search results will display in a list. 

Only the first 500 results will be displayed, but here you can start getting some insights.

Expand the map view to see if you notice any patterns or learn more about the location. You can add layers for heatmaps and boundaries that can reveal insights into specific characteristics of properties, property values, transactions, and property owners. 

Back in the list view, sort by Seller Name to start looking for multiple transactions by the same Seller. Note that you can re-order your columns and add or remove fields that are important to you to make your results more informative.

Click on a down arrow in a column header, then click “Columns” and check off which columns you want to add to your list. Some handy ones we recommend for finding flippers:

  • Purchase Amount Change is the dollar increase or decrease in purchase amount from the previous change of ownership.
  • Months Since Prior COO is the number of months between the most recent change of ownership and the previous change of ownership.
  • Purchase Amount is the amount of the most recent change of ownership recorded at the county recorder’s office.

If your results exceed 500, you can export all the results to a .CSV file to do a full analysis.

CSV File Analysis

Click on the red target marketing icon and click export. Your list of results will download as a .csv file which you can open in Excel or similar spreadsheet or data analysis software. 

Once you open the .csv file in Excel, let’s sort by the field “Transfer Seller” which will help identify Flippers doing multiple transactions. Highlight all of your cells and find “data” in the main toolbar. Select “sort”. In “sort by” select “Transfer seller”. Click OK.

Next, use Conditional Formatting to help visually identify the Flippers with multiple transactions. 

Highlight the Transfer Seller column and then click “conditional formatting” in the toolbar. Select “highlight cell rules” and click “duplicate values” then click “ok”. 

You will see all of the duplicate sellers in red in that column.

Now you’ve identified Flippers who are doing multiple transactions in your market. These are your most active Flippers.

Picking up Flips > 6 months

Go back to Transfer Search, Search Options, and now specifically look for all of the transactions in which BKSP PROPERTIES LLC (example of a seller that has multiple transactions) was the seller.

Select the Transfer Tab and Select All Transfers, both Market and Non-Market Transfers.

Under Transfer Details change the Transfer date to October 8th 2008 to today to capture the last ten years of activity.

In Seller Name, add BKSP Properties LLC. Now click Search. 

Now you can see every transfer in the State of California done by BKSP Properties LLC. Including the transfer type, city, and the date.

Switch to Map View to see where they do most of their deals. Often a Flipper will concentrate in a specific location to keep their crews in close proximity, or they know something about the market that you should figure out.

A few more things to note:

Back in Search Options under the Value & Equity Tab, You can use the Return on Investment criteria to only search for Flips with a certain Cap Rate or Cash Return.

Under the More tab, there’s criteria regarding Loans that can offer some great insights on financing activities by Flippers.

Now that you’ve identified some Flippers in your market, how do you stay on top of their activity? For that, use Make a List to set some alerts.

Using Lists & Alerts to Monitor the Competition

It’s important to monitor the activities of a competitor or potential customer. By setting alerts, you’ll never miss a move they make.  

From the main menu go to Make a List, and under Transfer, select “All Transfer”.

Select “Seller Name”. Here’s where you put in the name of the Flipper you want to track.

Save this list and name it "BKSP Sold" as a way to view all of their activities and ROI's. Using Map View, see where they are active.

Go back to My Lists. Using Insights, you can quickly drill down to see how many properties they’ve flipped, how many recently sold, as well as quickly access your notes and photos you may have about these properties. 

Now you can set up an alert. Click the yellow bell icon. Check the Active box, select New Matches and your desired notification method and any time they are picking up a new flip, you will be alerted. This alert is tracking the transfer seller – it will let you know any time BKSP successfully completes another flip. 

Next you can copy this list and change the criteria from “transfer seller name” to “buyer name”. So this list is “BKSP Owned”.

Now you can see what inventory they have and you can set up alerts to be automatically notified any time they are doing a new deal or acquire a new investment property.

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