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Updated over 8 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Joe I.
  • Glenview, IL
1
Votes |
9
Posts

How oversaturated is flipping in South Florida?

Joe I.
  • Glenview, IL
Posted

I'm a CPA and I live in North Broward and work in Miami-Dade. I've always wanted to get into rehabbing, but I'm concerned that the market is very over-saturated with flippers.

I have about $45k in cash and excellent credit, but I would likely need access to hard-money and some good wholesalers to make this work. If I'm using hard money, finding deals from wholesalers, and paying a lot of contractors to complete the work (since I have a day-job), do I have any shot at being successful in this market or is it a pipe dream?

Should I consider West Palm instead of Broward to avoid some of the competition?

Most Popular Reply

Account Closed
  • Investor
  • Orlando, FL
780
Votes |
1,351
Posts
Account Closed
  • Investor
  • Orlando, FL
Replied

FYI I am a wholesaler in central FLA and I have over 50 properties in all kinds of conditions from needing alot of rehab to none. The % of ARV purchased is all over the board. I also have access to a complete turnkey operation if you need it. If this is something you might consider let me know.

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