House Flipping in Phoenix

[Carson Bode]

Hello everyone, I'm a college student in Phoenix and I have a little cash saved up. I am wondering if flipping a cheap house is an idea worth pursuing. Is the market too hot? I have a buddy who is a Realtor, and we both want to get into the game, but not sure if Flipping, BRRRR, or Buy and Hold is the the best method. Also not sure if we should do a hard money loan for the flip or if there is a better option. All help is appreciated. Thank you!

[Lucas Bernard]

Hey Carson! I'm a recent grad who also lives around the valley and I'm in a similar situation. I've been expanding my network but finding good deals for a BRRR as a newbie seems like an almost impossible task. The market is still red hot, and those without systems in place where deals are brought to them are at a distinct disadvantage. This is why I've begun considering out of state, somewhere that is growing but has less appreciation and more cash flow. I'd love to connect!

[Jana Crum]

Hey @Carson Bode, it's great that you and your friend are looking to start to build your investment portfolio. My advice would be to start with the end in mind. What's both your's and your friend's ultimate goal with investing in real estate? Once you all figure that out, use it as your compass. If you want to build/maintain a flipping business then flipping a small condo in The Valley would totally be worth it! I have out-of-state investors that did just that, we are closing next month and they are going to net $15k apiece. If you guys want to have a large portfolio of rentals then use that cash to get a house hack and then level up to another rental. Ultimately it comes down to what's your end game with investing in real estate.

[Thomas Corley]

@Carson Bode AZ is a great market to invest! My investors and I have definitely done well investing here! I would do some research and really see what exists you weather that’s flipping, long term rentals or any other strategies and pressure that!