what are some recommended markets?

[Payman A.]

Hi all,

I'm expecting to buy my first flip project in the next few months and am willing to travel and live in the properties at least until I clear some profits and learn a few lessons.  Also thinking about taking a general contractor's course.  Is the $10-15K budget range for combined purchase and rehab too low/risky? (Like you would find in Detroit or Cleveland). I'd probably go cash so what are some recommended markets and required budgets for best return and quick flip?  Appreciate thoughts and suggestions.

[James Wise]

Originally posted by @Payman A.:

Originally posted by @James Wise:

Originally posted by @Payman A.:

Hi all,

I'm expecting to buy my first flip project in the next few months and am willing to travel and live in the properties at least until I clear some profits and learn a few lessons.  Also thinking about taking a general contractor's course.  Is the $10-15K budget range for combined purchase and rehab too low/risky? (Like you would find in Detroit or Cleveland). I'd probably go cash so what are some recommended markets and required budgets for best return and quick flip?  Appreciate thoughts and suggestions.

These numbers are not realistic in Cleveland.

 I appreciate the reply James.  This might be crucial info since I don't think Detroit numbers are going to be much different.  Thoughts on what I should be expecting for cash budget, return, and time frame?

I do not think it makes any sense to try and flip anything that is selling for less then $80-100k after it is all fixed up. However all of these questions can have different answers based on an unlimited amount of variables.