What Is The Best Neighborhood To Flip Houses In?

finding your flip Apr 15, 2020

A question I get all the time is, what kind of neighborhood should I be looking to buy houses.

There are literally hundreds of areas that I would buy in and around Birmingham.

I like to tell people; I will buy in what I call "retail" neighborhoods.

That is where the majority of homes sold are to the retail buyer. Not a rental area, in other words.

So many people get hung up on the "hot" areas and think that is the best place to flip. It can be, but many times I've found it to get too competitive, and it is actually harder!

The other factor that will determine the area is what funds you have available to you.

You may know an incredible area near you where the homes will sell for $300,000 when renovated, but you are only approved for $150,000. That's not gonna work.

I tell new investors I think it is wise to stay at the lower end of the housing market, especially for your first few flips. That price point will vary depending on where you live.

In my area, I love the homes selling...

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Finding Your First Flip

finding your flip Feb 09, 2020

So, let’s talk about searching for your first flip. There are so many things to think about – what do I even need to be looking for? What non-physical things do I need to consider? Who do I talk to? I feel like we’re about to begin skipping down the Yellow Brick Road!

A few things to consider when you begin looking for a property:

  1. Proximity from where you live – you don’t want to waste time driving an hour back and forth each time you visit your property (which will be often). Remember, time is money!
  2. Price point versus your proximity – okay, this might go against what I literally just said, but if you can’t pass up a deal, it may be worth it. Just do your calculations and see if it works with your budget or not!
  3. Retail areas – you will want to look for a project in an area that 90-95% have owners who actually live in the homes. Areas of town that are mainly rentals are harder to sell once flipped. If you’re wanting to hang onto...
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