Thoughts on flipping in the current real estate climate

[Michael Furey]

My wife and I are looking to do our first flip and we were just wondering if right now was a good time or not to do this. It seems like home sales have slowed a good amount, but we weren’t sure if that’s effect us too bad if we did a flip. We’re in the Savannah area and assuming we find the right deal and don’t go crazy over budget, do you think we would be ok?  Should we wait to do a flip?

[William Harvey]

@Michael Furey Since flipping is an arbitrage play, where you are looking to buy a property and sell where you can make a spread, there really isn't a good or bad time to flip. Every property is a deal at the right price. I would just focus heavily on your ARV calculation. When in doubt at all, lower it.

I agree with @Eliott Elias. We have seen a lot less competition in recent months because lots of wholesalers and investors have disappeared. In that regard, it is a great time to flip houses. Just be cautious about the ARV and make sure you are buying the house right!