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Nilton Santos
  • Scarsdale, NY
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$150K cash to invest on fix-and-flips

Nilton Santos
  • Scarsdale, NY
Posted Jan 21 2018, 15:14

Hi all,

I'm a new real state investor from out-of-state who is considering investing in fix-and-flips in the Phoenix area. The main reason for Phoenix is that, based on my research, the area seems great (read average ROIs > 30%) for flips right now, despite the fierce competition. 

I've got flexibility from my "day job" to work from anywhere (I'm a remote worker) so I'm willing to be on the ground to make this a successful business. Additionally, being out of state, I'm planning on networking as much as possible with locals (via BP, local meetups, real state investment clubs, etc.) to get a "good pulse/feel" for the local market before my first deal.

My question are:

1) how realistic is it to find great deals (net ROIs > 30%) with $150K total to invest? I figured with this kind of cash I'd have to target the low end of the market (under $100K) which, in general, is where there is fierce competition;

2) how realistic is it to make this a success given that I'm out-of-state? I figure a considerable learning curve is need to learn the local market and establish trusted relationships.

What are your thoughts?

Thank you all in advance for your answers!

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