Is Flipping Business Dead in Phoenix?
Hi,
I have flipped or bought & held couple of houses in Phoenix last few years. I was hesitant to dive in to the business and I waited for all the stars to be aligned. Now that I am ready to dive back in to flipping business, I see no deals out there. I have been looking with my real estate agent / business partner for a while, but I don't see any lucrative deals in our price range. Is the flipping business dead in Phoenix now? Did the price range go up a lot for the same kind of deals? Is only way to find lucrative deals now to get into "we buy houses" marketing business?
To be more specific:
Our price range is below $150K for 2+1 single family in relatively nicer parts of Phoenix metro area (Chandler, Tempe, West Mesa, etc.) with a potential after repair value of $200K
We have seen lots of deals like that previously and actually flipped one in Chandler. However they seem to be gone now.
Thank you in advance for responses.