What can I do in Minneapolis/St.Paul with $120k?

[Matthew Berry]

After a highly successful rehab that began back in 2012, I now have $120k worth of profit to invest in my next real estate deal. It's been a great journey, but my wife and I are ready for the next deal.

The only problem?

It feels like a lot of the low-end rehab deals have dried up. I've not given much attention to the MLS because it's feeding frenzy. I've also seen other marketing attempts reduce in overall effectiveness.

At this stage in the game, I'm trying to determine the best strategy going forward. Now that I have something in liquid assets I can avoid the "no money down" creative deals (thank God).

We would like to do another rehab. Ideally, we could purchase and fund the repairs with the $120k, then flip shortly after that for a quick profit...even $10k profit would suffice. Something repeatable and scalable.

Any ideas?

[Mark Totzke]

Yes, the Como property I'm flipping is a category 2 vacant property. It took 4 months to get everything up to code and get the certificate of code compliance. I take part of the fault for the lengthy rehab time because I was trying to save money by using a handyman. I learned shortly into the project that I must use licensed contractors. The 5 inspections and getting everything up to code put me 30k over budget but luckily I got the property very cheap. Will profit 11-12k.