What are the best cities for flipping houses- under $100k? Thanks.
Whether or not you'll be good at flipping houses doesn't have anything to do with the market you are flipping in. It's about your skill set to run a house flipping business. In a nutshell the skills needed to be good at flipping houses are as follows
The ability to market to distressed sellers.
The ability to sell the sellers on closing a deal with you.
The ability to accurately estimate repair scope and cost.
The ability to manage a construction crew and come in on time as well as within the budget.
The ability to accurately estimate the eventual resale vale of the property.
Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes
6y
@Stanley A. you should check out NEPA, Greater Scranton area. Question for you--do you have experience in doing absentee flips? If you want to talk about this area, pm me.
What are the best cities for flipping houses- under $100k? Thanks.
Whether or not you'll be good at flipping houses doesn't have anything to do with the market you are flipping in. It's about your skill set to run a house flipping business. In a nutshell the skills needed to be good at flipping houses are as follows
The ability to market to distressed sellers.
The ability to sell the sellers on closing a deal with you.
The ability to accurately estimate repair scope and cost.
The ability to manage a construction crew and come in on time as well as within the budget.
The ability to accurately estimate the eventual resale vale of the property.
Investor · Cypress, TX · Member since 2015 · 44 posts · 6 votes
6y
Thanks folks for the input! Any flipping will be our first. We are trying to explore our options and see where our money can go farthest and hope to learn along the line. We currently have buy and holds.
Indianapolis · Member since 2019 · 288 posts · 179 votes
6y
Indianapolis is a great option - I moved from CA to the mid-west to make my dollars stretch a bit further. Nowadays there are much more secure ways to invest OOS and still be protected and profitable, without having to move to the area.
Join local groups on social media for different areas and see what the people investing in the areas are saying - then start running your numbers from there to see which market will work best for you. Connecting with a local realtor in the REI field would be another good step to start crunching numbers too.
Rental Property Investor · Long Beach, CA · Member since 2015 · 623 posts · 155 votes
6y
Hi @Stanley A., Indianapolis is my city of choice for this kind of thing. It's been pretty good to me over the years. If you want to talk about areas or who to work with versus steer clear from I'm happy to chat.
Specialist · Dallas, TX · Member since 2017 · 368 posts · 102 votes
6y
@Stanley A. We have been flipping home sin our area of Wichita Falls at about a 30% cash on cash return. We pick up homes for about $45K and put $35K into them and we are selling for about $100K to $110K. Tertiary market investing can offer a lot of return is done correctly and if you have done your research, just like in any market.