Investor · Toronto, Ontario · Member since 2016 · 66 posts · 20 votes
Being based in Toronto, an investor colleague and I are looking to branch out into the US midwest with an initial focus on flipping and possible adding buy and holds later on. I am wondering if anyone has any suggestions for reputable wholesalers and project managers in places such as Indianapolis, Cincinnati, Cleveland and others.
We are looking to finance the flips completely by ourselves (purchase, holding and reno costs) so we won't need any US hard money lenders as we have heard that it is very difficult for Canadian investors to get good financing for flips and buy and holds. As a result we are looking for markets that have a reasonably low cost of entry but a potential for decent margins on flips.
Thank you in advance for any input or suggestions.
Wholesaler · Texas and Tennessee primarily. Other states occasionally. · Member since 2015 · 69 posts · 27 votes
9y
Hi Susanne,
I have been an active wholesaler in Cincinnati for several years. Cincinnati will definitely meet your price requirements. I will send you a colleague connection request with a detailed message.
Specialist · Charlotte, NC · Member since 2016 · 239 posts · 117 votes
9y
Glad to see some international interest in the Midwest. There are some great opportunities here, especially in my home market of Cleveland. I will shoot you a PM
Wholesaler · Texas and Tennessee primarily. Other states occasionally. · Member since 2015 · 69 posts · 27 votes
9y
Hi Susanne,
I have been an active wholesaler in Cincinnati for several years. Cincinnati will definitely meet your price requirements. I will send you a colleague connection request with a detailed message.
Investor · Toronto, Ontario · Member since 2016 · 66 posts · 20 votes
9y
Thank you all for your replies. We are interested in a number of Midwest markets and are looking for flips at lower price points that will provide a profit margin of about $30k and up. We are interested in Indianapolis, Cincinnati, Cleveland and any other cities in the Midwest that offer good potential for flips. I am just at the beginning of building a power team and interested in talking to wholesalers and project managers as well as investors who have been active in this region. Thank you @Ian Kurela, @Chuck Stagliano, @Amie Lieurance, and @Loretta Chang, for your comments and PMs. Any input is greatly appreciated.
Investor · Cincinnati, OH · Member since 2012 · 506 posts · 331 votes
9y
Suzanne, what do you mean by "lower price points?" Low price in Toronto is different than low price in Cincinnati! There's a lot of outside money flowing into the midwest and margins are getting driven down as a result.