What are the best types of houses to flip for a newbie? cosmetic? I am hoping to find a purely cosmetic flip but am I not sure how much type to budget for one.
Hello Rigo, yes ideally the best flip for a newbie or for any investor is one that only needs cosmetic upgrades. Depending on the size of the house and the quality of upgrades, we've seen rehab costs from $20,000 and up. It might be significantly less in your area.
It's always a good idea to seek out your local real estate investment club. Those meet ups are usually very helpful.
Best of luck
Welcome to BP Rigo and good luck investing!
Best? That is a very subjective question and there are many different answers as it all depends on many factors. What is the easiest and safest for a newbie? Yes, a quick cosmetic flip is the answer but in most markets right now, that is no easy task to find.
If you do not yet know how to estimate rehab costs, then I recommend you learn that step first as it is one of the two most important items you need (the other being knowing how to evaluate the exit value (ARV).