What other markets have $100K+/- spread on rehab flips?

6 Replies

I am curious to know what markets other than SoCal have $100K+/- margins on $350K~ purchase cost homes?

Five points area in Raleigh. How do I know? I funded (via SDIRA) a flipper there. $161K in, $345K out. 5 months deed to deed. A little more than paint... he put in a lot of $$, but I'd contend there are $100K spreads on cities coast to coast.

Anyone else got some markets?

Chris, is this part of town 'up and coming'? It seems every city has a five points that is gentrifying

Originally posted by @Bryan A. :
Chris, is this part of town 'up and coming'? It seems every city has a five points that is gentrifying

Up and coming? Honestly, I don't know. I'm not in that space (other than as a low LTV SDIRA lender) and I've never been able to 'get it.'

Originally posted by @Bryan A.:

Chris, is this part of town 'up and coming'? It seems every city has a five points that is gentrifying

 Nah, Five Points is a pretty established "old money" neighborhood.  There's a few houses here and there that are in crappy shape, but for the most part, its a really nice area.  Its also home to the awesomest pizza place ever.  

Look at $500k+ neighborhoods.  I think most of the large cities in the US have areas with potential for $100k margins.   Many in the $350k purchase range. In TX; Dallas, Fort Worth, Austin, and Houston, should work. 

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