Buying & Selling Real Estate Discussion

[Gehmelle Johnson]

I am a current resident of the DMV (D.C., Maryland, Virginia) in which I own a multiunit (4 units) and a condo. I am not willing to purchase again, in the DMV for it is too expensive! Originally from Minnesota and desire to begin purchasing (flipping) there for it is a steady but, profitable market. I am familiar with neighborhoods so, I know what areas I desire to invest. My concerns are what risks are involved not being on ground when flipping-or investing in a property, what do I need to have in order to be successful as an outside investor?

[John Woodrich]

Flipping is a business, if you have people on the ground that you can trust it can work well.  If you are planning to start from scratch and not be near the property to make sure you aren't taken advantage of it will be tough.  Properties are also selling pretty quick so if you are planning to fly down for due diligence you may find it difficult to compete with local investors.