Tennessee or Pennsylvania ? Where is better to fix&flip an house

[Omri Biderman]

I am debating between these 2 countries Tennessee and Pennsylvania.

 where do you think is better to fix and flip an house from your personal experience, in terms of taxes, laws, renovation costs and the difficulty of selling the property?

I would love to hear your opinion, and your personal story for the better or worse about the countries I have mentioned. If you have an interesting story from a country would be welcome.

Omri B.

[Mitchell Meyer]

Hi Omri, I grew up in Pennsylvania and have lived in Tennessee for over a year now. Right now the Nashville market is really hot, inventory is down and closings are up. With that being said, if you would flip a house in the Nashville area right now the chances of it sitting on the market and not selling is pretty slim, depending on the area in Nashville.  Murfreesboro Tn which is right outside of Nashville is one of the hottest markets in the nation right now. In my opinion you cant go wrong investing in either one of these areas. You'll definitely want to network with people before you buy a house because general contractors can be tough to come by right now.

[Jeremy F.]

Omri, I know nothing about Pennsylvania from an REI perspective; however, I live in Murfreesboro, TN just outside of Nashville. As a real estate investor who owns property in Middle Tennessee and other states, there are deals to be had here in Middle Tennessee. The challenge is beating 100's if not 1000's of other cash buyers to the punch on those deals. Sellers in the area know it is hot and expect more for their property. Most sellers I talk to that might sell me their home at a lower than retail price, are also contemplating refinance to just pull out the inflated cash equity they now have due to the local market conditions. That increases the competition and not from other investors.

Mitchell is right that you can't go wrong investing in the Nashville / Middle Tennessee area. I don't see the demand or prices waining here any time soon even if there is a little down turn next year. Although, from an REI perspective, I would predict that in Q1 and Q2 of 2021, we may see some of the better deals in the Middle Tennessee area than in recent years if you are well informed, well connected and well funded. Then over the next few years, the Middle Tennesse market will continue to be one of the leading real estate markets in the country.

I will say this. From all the chatter I hear from various real estate investment moguls and my mentors regardless of market is the REI play for the next little while will be in the suburbs. The COVID stuff forcing more work from home will eventually take a toll on the urban market as more people find a reason to continue to work from home even after it may not be required. Homes with extra space for a home office could become more desireable. Those are more prevelant in suburbs than in urban areas. That may even become the more required request over the updated kitchen or an extra bathroom. Middle Tennessee has plenty of suburb targets to choose from. Good luck!