Is it less expensive to rehab in less expensive markets?
Newbie here from L.A. Obviously expensive to start flipping here, so considering starting in less expensive markets. Here's what I don't get... In browsing other markets, I often see wholesale listings that need 10k to 20k worth of work. I never see this in L.A. Everything needs at least 50k worth of work. Here's my question: Doesn't it cost (more or less) the same amount of money to rehab a 3bd house in a less expensive market as it would in L.A? It makes sense to dump 50k or more into a house if you're buying it for 500k and selling it for 700k, but how can you do that with a house you buy for 80k? Not like you're going to turn around and sell it for 280k in that market. Anyone shed some light? Thanks.