Flipping homes in New Jersey

[Kunal Mishra]

Hello All, 

I have flipped 3 homes in the last 18 months, 1st one was in Hudson County, NJ, second in North Brunswick, NJ and third in Wayne, Passaic County.

I just wanted to get a sense from other fellow investors in NJ and out-of-state that what minimum profit margin do savvy flippers work on and get into the deal. 

Do I just focus on volume (off course if I can handle) and even settle with 20-25k net profit if can be in and out in 3-4 months?

I know there is not a straight reply to this, but the prices of REO properties are going up in NJ and I am sure the margins are narrowing down.

Thanks

Kunal M.

[Mark Callazzo]

as a lender with a lot of experience we see problems in the thin deals.     If something can go wrong it will and the 25k projected profit can go to zero or a loss when problems arise.    We review profitability with borrowers and if it isn't profitable enough we try and talk them out of it.      I'd be glad to help if you want.