Does anyone have experience flipping homes in the Kenosha/Racine county area?
I am not personally flipping, but a contractor I used to work for is looking at the area. However, he has always done work in Chicago's north shore, where the homes were all multi-million dollar remodels. He is struggling to find anything in Wisconsin to meet his numbers, because his preliminary bid process is based on a $200/sq ft pricing that he used on the north shore (and which totally works down there). But just looking at the homes in my area, and seeing that people ARE making money flipping here, I can't believe that this is an accurate metric for Kenosha.
Do any of you have a range that you have found? Obviously it can range incredibly, so I realize my question might not really be able to be answered.
Nathan, it's odd to see Kenosha pop up on a national forum. There are less than half a dozen people doing 80% of the flips in Kenosha and Racine. I am one of them.
Who is the contractor?
Hey! That's awesome!
His name is Mike, and he's not on the radar yet as he's really just started looking into it. He moved up to Kenosha recently from Waukegan.
On another note, I'd love to buy you out a coffee or beer sometime if you're game. I'm not in the flipping game yet, and don't plan to be for a while, but I'd love to get to know you a bit and here about what kind of stuff you're doing. Can offer coffee, beer, and cured meats in return.
@Nathan Grubb , @Kevin M Finley is the man! I too do a lot of investing and rehabbing in Kenosha. I've never really used a range for price per sq/ft for our rehabs. I know if I'm doing just basic cosmetic updates and nothing major (i.e. roof, basement, windows, HVAC, electrical, plumbing, etc.) I'm around $30-$50 sq/ft. But, again that's very a preliminary number that I can use if I haven't even seen the home and I know it's in good shape. I never use that number to go make an offer.
There's also a great great Facebook page for Kenosha investors that you can ask this very same question. Search Southeastern Wisconsin Real Estate Investor Group and join. It's for real estate investing professionals all throughout Kenosha, Racine, Milwaukee, and Waukesha. Hope that helps and hope to see you around sometime in the area.
@Mitch Ferraro great to hear!
The offer stands open for you, too! Coffee, beer, cured meat? Let's meet up sometime.
Of course. Probably best to PM and find us on facebook. Mitch is a great person to know when it comes to kenosha investing as well
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