Does anyone have any pointers on best neighborhoods for low flip?

13 Replies

looking to find a neighborhood like 18 and Carrolton was 3 years ago. You could buy for low then and now it's hard to find a deal. Anyninsightbwould help. 

@Nigel Garrett people are quiet because there are few DEALS to be had these days. Are you looking outside Indianapolis? There are a few areas I've heard about and I'd love to invest there myself but the deals are scarce at best. 

An example would be to buy for around $20-35k Invest $80-$100K and sell for $200,  I see a lot of these where they want $65-$70 k for the house.  I wont settle for low margin.  I can work a day job and make 100k a year why take on a low paying stress job.  I own a few rental houses.  May just keep buying houses under city violation in lower income areas for rentals.

Originally posted by @Nigel Garrett :

An example would be to buy for around $20-35k Invest $80-$100K and sell for $200,  I see a lot of these where they want $65-$70 k for the house.  I wont settle for low margin.  I can work a day job and make 100k a year why take on a low paying stress job.  I own a few rental houses.  May just keep buying houses under city violation in lower income areas for rentals.

 so you want to make 80 to 100k on a 200k flip.. yup that was a very small window in time..  and simply not normal.

just start competing against all the wholesaler there.. buy the low end crap and sell it to MOrris. 

@Jeff Parker your right everyone  says you can’t do it until you do and I know there are pocket areas that could be snuck into.  just don’t know if it’s safe money .  Do you think things are just over inflated right now and will come back down to earth ?

Originally posted by @Nigel Garrett :

open to ideas.  @Jay Hinrichs do you work for 15% margins?

 actually I do new construction and yes I work on 15% margins and anything above is a home run.

we sell 400 to 500k new construction and look to make 15% is we can sometimes its only 10 or 12%  but we will do 40 in a year.

its easier in your low priced or low value assets and that to me is anything at 200k and under since I pay 100 to 200k or more just for lots.

to make higher % returns.. lower the price higher the returns.

it all depends on market and price points.. like the turn key guys probably make about 10% to 20% per deal.. but they do 50 to 100 a year..   if your doing 3 flips a year.. then yes lots of risk and not the best use of ones time I would just stick to being a broker with no risk heck my wife will make 200k plus a year just in brokerage fees  and that's fairly common for a west coast broker.

Thanks for that. This post was more based to gain insight into lower prices deals not 200k lots.  If anyone has any thing of help in indy im an open ear.  Here’s an example of the deals I’m doing : Under contract for a house in an average area for $3500 they owe 3000 in back taxes and the city put a small fine on them and they can’t keep up the house so they want to sell it I’ll put about 20k in it And it should be worth about 65k . It’s just south of Fountain Square in an area that really hasn’t seen any growth but it’s an established neighborhood never know in the future that may be something but for now I’ll keep just a little into it and rented out

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