Rehabbing & House Flipping in Staten Island in 2024

[Stanley Zeng]

Hi all,

This is my first post on BP and am excited to learn and hopefully get started on investing in Real Estate! I am in my mid 20s and have saved up around 200 - 300k and currently reside in Brooklyn. 

I'm currently priced out of Brooklyn as the homes here are almost always (1M +), so I started looking into nearby areas like Staten Island, which seems more doable at first glance.. I am looking into doing rehabs and flips, so that I can build my capital and not be tied down to a LTR should anything go south. 

I wanted to ask, is anyone here actively still flipping Staten Island homes in 2024? Do you have any tips for a beginner investor getting started?

Thank you! 

Stanley

[Jonathan Greene]

I don't know why you think Staten Island is less competitive or easier to flip. It is not. 200-300k won't get you too far and because of how dense Staten Island is in a lot of parts, new flippers don't know what they are signing up for with neighbors and city officials. It is definitely an area that you need to know who you know.