Brunno, how long have you been investing? And what are you trying to accomplish (ie cash flow, tax savings, retirement income, etc)? Some more details would help give better guidance. Thank you!
Jason E. Smith - Thanks for the reply. I have been investing for about 3 years, but it is not my full time job yet. I have done one flip here in MA, and own a 4 plex currently. My goal is to maybe do a couple flips there, and raise a bit of cash to place into a cash flow property.
I was in your same shoes in 2005. I had several flips mid-project when we entered the last recession. I watched equity quickly erode till I just had to rent the properties to keep my head above water. I’m not trying to be doom and gloom but I would just have excessive equity if you buy into any flips today. There’s plenty of flips out there that will prove too risky once we enter our next recession. It’s not a bad thing as long as you’re positioned to capitalize on it. So rather than saying do or don’t do flips this late in the cycle I’d recommend allocating a conservative portion of capital towards flips and keep a heavier portion of capital liquid to capitalize on phenomenal deals as they become more prevalent. Not sure if it’s the exact answer you were hoping for but nonetheless hope it’s helpful.
I'm from New Bern. Unless you are prepared to deal with possible hurricane damage to your properties, I would stick to flipping in the area. Trent Woods is a good area to look at. There are still some cheaper houses, but people are willing to pay more for nicer ones in that area and multiple school districts to pick from.