Where is flipping hot right now?

Question

I'm from Sacramento and the flips have dried up here. I've been buying rentals in the Midwest and am getting eager to find where a hot market for flipping is at the moment. Anyone having success flipping anywhere right now?

Andrew Cordle · Answer

@Dustin Rose

To me the best flip markets are areas that are also appreciating at a high rate. However, in those areas you will normally deal with two things:

1. Lot of competition (low inventory)

2. Normally you will see higher prices on flip as an entry point. Meaning, a flip may cost 150k to purchase plus rehab or even higher.

There are some markets that are appreciating that you can still get in at a lower entry, but inventory is still very tight.

I love the midwest flips, not a ton of competition, they are bread and butter 3/2 for small families, and a lot of inventory. Now the downside is Midwest areas is that appreciation is minute at best. So in 6 months after you flip the house it will still be at the same ARV. Positive is if the market crashes those houses will also not really go down in value either, and turn into great landlord friendly states for rentals.

Just my two cents....

Also, please notice I do not live in the Midwest I live in ATL however I flip a lot in the Midwest because of what I mentioned above.

Jay Hinrichs · Answer

Account Closed

nothing better than flipping in appreciating markets... makes profit taking pretty simple.

Andrew Cordle · Answer

@Dustin Rose

Sorry for the delay response. Next time if you @tag me it will notify me and I can respond faster to you....

Thanks for the compliment about my site.

If you look at it again sometime there is a button called "flips" and there are about 50 or so flips from the midwest that we did the last 12 months or so.

We mainly focus in the Chiacgoland area. Our deals look like this:

Purchase 60k

Rehab 40k

Sales 145k

Minus 10% of ARV

Minus our fee

Profit 20k or so on deals.

We love them they are nice quick and easy 4 to 6 months in and out. Quick turns.

Let me know if you ever want to chat sometime.

Andrew

Sarah Richardson · Answer

Scottsdale and Central Phoenix are approaching a nice sellers market for spring and summer! Great time to get involved here.

Dustin Rose · Answer

Very cool Joe. That sounds good to me. I will give you a call next week.

Dustin Rose · Answer

Yeah I love the Midwest to Andrew. Plus if for some reason the home doesn't sell or the market crashes the home still makes a great rental.

Where have you been having the most success flipping in the mid west?

Cool website!

Account Closed · Answer

I think many markets can work fine, just have to have an expert showing you where to get cheap deals. I did 20k in two flips in less than 60 days in San Antonio, doing that again in a couple weeks with two new purchases. Minimal repairs, just reselling to other investors as market appreciates.

Jay Hinrichs · Answer

@Dustin Rose

very small group of partners.. they each have multiple deals.. my biggest one in the Deep south will have 20 going at anyone time.

Dustin Rose · Answer

You sure do have a lot of deals going on. That's amazing. Does having that many deals going on at once stress you out?- how do you handle that kind of volume?

I go to the Cameron Park airport with my kids sometimes to watch the planes land and follow them when they go on the street in the neighborhood- very cool.

Jay Hinrichs · Answer

@Dustin Rose

looked at your website the house you have on the front is indiciative of what we are doing.

Where is flipping hot right now?

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