Grand Rapids/Holland Fix and Flipping
Hi,
I am newer to BP and we (my husband and I) are looking to get into real estate investing. My particular interest is in fix and flips rather than renters. We actually put an offer in on a property and after walking it with my father in law who is a new home builder/remodeler I'm not so sure. I think it has great potential and it seems like the numbers are good even if unexpected things come up, but he recommended not getting into it. I'm not sure if I should proceed with doing a formal inspection (wondering if it's hard to ask opinions of family members and would be better to have a neutral party walk it) or what. I know he has a lot of experience, but I also know this is a lot more distressed than properties he typically works on and I wonder if he is just thrown by that. I don't know how a profit can be made in flipping (especially in our area) unless you do find something that is fairly distressed. Also, if there are any investors in this area to connect with, I would love to do that. We are new at this, but I feel passionate about getting into this area. Anyhow, any thoughts appreciated! Thanks so much!