Flipping in the Midwest

[Michael J. Lemus]

I want to buy a relatively cheap SFH (cash) to do a fix and flip, mainly as a way to get my feet wet but of course also make a bit of profit, and right now I'm looking at the Midwest. Columbus Ohio comes to mind, as does Grand Rapids Michigan. I don't really know the Midwest all too well though so I'm looking for some advice from people who do.

Ideally I'd like to find an area where the median home value is around $100-150k, with the goal of getting something for a purchase price of around $50-75k and putting in $15-25k for a profit of $35-50k. Basically I want to use this first deal as a way of getting a feel for out of state flipping.

Anyone here from those areas or have any suggestions for where a flip like this might do well? Thanks!

[Connor Anderson]

Hi Michael - The midwest is affordable but for the most party median home prices have been pushed north of $150k and are closer to $200k. 

A city in Michigan where you can purchase homes for $50-$75k and likely ARV of $100k+ would be Muskegon. Lansing and Kalamazoo also offer similar opprotunies but are a little bit more expensive than Muskegon.

Hopefully this helps!