Hello BP Community,
I am interested in getting in to the house flipping industry. I know I have a lot of research and education ahead of me but I am interested to get some expert opinions on where I should start looking for property. What are the key elements of a good flipping location? Should I be looking at income levels, job reports, or economic growth? Any advice that you could offer would be greatly appreciated!
You should be looking at comps primarily... this will tell you what the market is currently paying for a similar property, and will give you your ARV to base the flip on. All of the larger macro economic factors may be useful, however you need to analyze the market as-is now, not where it's trending. A buy/hold deal could use the macro factors more, but a flip you're looking at 3-6 months most of the time before selling.