Pipe dream? Or valid plan? Flipping in Orlando, Fl
My husband and I are looking to get into fix and flipping this year, once we move up to Orlando, Fl from Miami, Fl. We will have 100k in cash to invest in our first project for purchase and repair costs. My husband is an elevator mechanic apprentice, and will be on the union bench likely for six months, once we get up there in three to four months. We will have enough savings for living expenses for a year set aside, so the plan is to go full steam during that time that he is out of work. I am a licensed realtor, and will be joining the Orlando MLS soon. The plan is to start out with one home, and see if we have what it takes, and snowball our initial investment from there. Am I crazy, or is this feasible in the current market conditions? Also, with that budget in mind (100k cash for both purchase, repairs, and closing costs), what are some of the best areas of Orlando to look? I've been doing a lot of research and looking around a lot of Orlando, and outside, and just want to narrow it down with some experienced opinions. We will be residing in the Davenport, fl area, and would ideally like our project to stay within an hour in any directions of there, if possible?
Any guidance offered is much appreciated. I'm having a difficult pregnancy, and stuck in bed a lot, so doing a lot of research right now, and just looking to be as educated as possible.