Updated 5 months ago on . Most recent reply
Wichita Fix n Flips
Hi Wichita BP community!
I am new to the area but not new the REI. I have 5 long term rental units in Boston area and have recently been relocated to Wichita for work. While I am here, I figured why not do a flip! I have always wanted to do flips and figured the Wichita market may be a good place to do my first one since prices and renovation costs are relatively low (compared to Northeast).
Since I'm new to the area, I would really appreciate help with understanding the local market and it's respective neighborhoods. From my initial research it seems like College Hill, Riverside, Delano and West Link are best for flippers. I am finding MLS listing with possible fix n flip potenital for around $80k and have ARV's roughly running from $125k-200k in those areas. With that, the margins seem thin considering the current buyers market and large active listings but open to local opinions!
I would also appreciate help with deal sourcing, connection to agents, wholesalers, etc.
Then lastly, since this will be my first flip. Please share success stories, horror stories, tips and advice some of you may have with flipping homes in the Wichita area.