Flipping in Ivy City Washington, DC

[Bobby Akines]

Has anyone tried to flip in Ivy City in DC? Trying to get a feel for what the appetite is for homes there. I live in NoMa in DC, and I love the "bones" of the neighborhood, but trying to gauge timing for any sort of investment there. Also, perhaps a more general question, but what are some good metrics people have used when analyzing a new neighborhood/market to invest in? Thanks!

[Robert Williams]

I've never done a flip in Ivy City, but the metrics for analyzing a good deal are universal in my mind. What's the ARV for a property there? I've never looked at Ivy City sales, but your challenge may be finding enough recent sales to determine what the typical ARV is in the neighborhood. If you can buy a property cheaply enough to make money on a flip based on the ARV, then it's worth pursuing.