55+ Community - Fix and Flip?

[David J Carciere]

Hey BP

Has anyone flipped houses in 55+ communities? We've got a couple of 55+ communities, in nice area's (in the towns of Healdsburg and Sonoma) that have available inventory that look like they'd be very straightforward flips. Basically it appears that the homes simply haven't been updated at all since they've been built. 

Given the towns there in, it seems like there could be good upside but I'm wondering if maybe there is actually limited upside to ARV based on them being 55+?

Obviously 1) there's a limited buyer pool. 2) some seniors are on a fixed income. 

The flip-side is there might be enough seniors with funds who would want to buy a fixed up, modern house in one of these area's?

Any thoughts appreciated. 

Thanks

David