$200K cash, where to spend it on a quick flip?

[Dave H.]

Hey BP friends,

It's so BIG...the guy from Australia says to the USA.

Where do I start? Probably at the begining right? I'm looking for a worthwhile flip in the States, have been looking at Detroit and have a great agent there but he can't find anything where the numbers stack up. He thinks it's the winter snooze fest. So I can be more patient or see what's going on elsewhere.

Where y'all looking for your next flip?

I've got about $200K cash, no preference in house type, it's just the numbers and the hold duration that count.

Thanks

Dave

[Lindsay Stewart]

@Dave H.

G'day Dave

You certainly should be able to get deals to stack up in Michigan for those figures. I am based in Australia and work actively in Michigan - both in and out of Detroit and can get 25-30% ROI nett from flips right now. Just need to allow 60-90 days on market for vacant possession or selling off market quicker for tenanted investment properties

Having someone on the ground you can trust is critical, so if you have a great contact in Michigan I would look there.

If you don't mind Detroit, try 48224, 48215 or 48221.  If you prefer the 'burbs try Warren, Eastpointe, St Clair Shores, Hazel Park.  Should find plenty within your budget

Cheers

Lindsay