Info on the current state of SFH Flips <120k in the Indy market
I'm a new investor in the Indy market and in the last year have flipped two homes. A SFH on the Near Eastside and the other, a suburb SFH near Eagle Creek Park. Since the new year I've noticed fewer and fewer homes in the <120k range and the ones that meet my criteria, are gone almost immediately at prices I cannot justify. I try to have my GC go to property after I find one that matches my criteria, and send me an invoice of his repair estimate before I feel comfortable closing.
But looking at the offers that are beating me out, I'm seeing offers at prices where making a decent return seem impossible to me. Is there a fundamental disconnect between me and the current RE market and is anyone here investing in Indy more optimistic about potential forced short-term appreciation than I'm current seeing?
Thanks in advance.