First Time Flipper!
Looking to start flipping houses here in the coming months. Currently in Southern California where the business is just too expensive. Looking to flip elsewhere. Possibly Arizona, Las Vegas, maybe Bakersfield. Have an interested investor that would do it if I could bring about 20-30 percent ROI. Just some quick questions. How do I seal the deal with the investors? Any key selling points I should make? They'd want to invest about $150,000 total. What's a realistic number I should look at to make enough profit? Is buying a house for $100,000, putting $30,000 into it and selling it for $180,000 realistic in the right market? I've been reading up on the forum for months and will definitely turn to you guys for help during the flip. Also would love to meet up with some of you in the area I decide to flip in. One more question.. I found a property in Fresno that is on the market as a foreclosure at $49,000 but looks like it needs a lot of work. Would it be worth it for me to make an offer at $35,000 and secure a loan for that and use my savings to fix it up? Try and be into it for about $55,000 and sell for $80,000-90,000 which comps support? Thank you all for your help and look forward to this wonderful journey in real estate!