New to the U.S., Experienced Renovator Looking to Start House Flipping

New to the U.S., Experienced Renovator Looking to Start House Flipping

Member since 2024 · 5 posts · 1 vote

Hi everyone,

I’m new to the U.S. and excited to start my real estate journey! I recently moved from France, where I spent 8 years running my own house renovation business. I’ve handled almost every aspect of renovations myself—plumbing, tiling, painting, drywall, and general construction. The only thing I don’t do is electrical work.

Now that I’m in the U.S., I want to focus on house flipping as a way to break into real estate investing. I currently have $20K to work with and would love to get advice on:

1. Finding the Right Deals: What’s the best way to find undervalued properties or fixer-uppers in my area (Philadelphia)? Should I focus on off-market deals, auctions, or foreclosures?

2. Financing Options: With 20K, how should I approach financing? Would hard money loans or partnerships make sense for someone like me?

3. Building a Team: While I can handle most of the renovation work myself, I’d need an electrician and possibly a real estate agent. Any tips on finding reliable professionals in my area?

4. Market Insights: Are there specific neighborhoods or property types in Philadelphia that I should target as a beginner?

If anyone has been in a similar situation or has actionable advice, I’d greatly appreciate it!

Thank you 

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Real Estate Agent · Philadelphia, PA · Member since 2023 · 13 posts · 3 votes
1y

Hey Ilir, 

Welcome to the U.S and Philadelphia. Like everyone else is saying, learn more about the market here in Philly. It is pretty interesting. I would also join a bunch of Investor groups via facebook and try to connect with as many people as you can. Im an agent/wholesaler here & I'd love to connect and see if I can help with anything. Good luck!

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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    1y

    Philly has a ton of opportunity, but since you are new to the area, I would suggest waiting six months before you buy anything there so you can really understand the block construction of the area. Philly, like a lot of major US cities, is very block by block. A block can transition from appreciating to depreciating within ten houses so you have to learn where it is ebbing and flowing. There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.

    You will need to get your GC license here and learn the permitting process and necessity here as well. It would be best to befriend a local contractor or even help one out on a job to see any differences from your past eight years doing it in another country. Good luck!

  • Zachary DealPro Member
    Lender · Member since 2023 · 465 posts · 425 votes
    1y

    With $20K to work with and a being new to US real estate I would recommend partnering with someone local. As a new fix and flip investor lenders will typically want to see 20% down payment and will be able to fund 20% of the rehab budget (80% LTC). As you gain more experience in market you will be able to get higher leverage 85% LTC, 90% LTC, 93% LTC, etc

  • Member since 2024 · 5 posts · 1 vote
    1y

    Thank you very much for your help, I really appreciate it. I will do e exactly how you said,  will wait and study. In U.S things changes a lot from France and the rest of western Europe. This gonna allow me to increase my budget for finding something that it's worth it. Also I can said that working as a project manager in renovation is helping me a lot. Thank you again and have a wonderful 2025 year. 

  • Financial Advisor · FL · Member since 2024 · 448 posts · 102 votes
    1y

    Welcome to the U.S.! With your renovation background, you're well-positioned to excel in house flipping. To find deals in Philadelphia, focus on off-market opportunities by networking with wholesalers and local investors, attending meetups, and leveraging platforms like PropStream or MLS. (Auctions and foreclosures can also provide great leads.)

    With $20K, hard money loans are a practical option, as they emphasize a property's ARV over your financial history. Partnering with investors to share profits is another avenue to increase capital.

    For your team, connect with electricians and agents through local investor groups or platforms like Angie's List. Seek an agent experienced with investors who knows the Philadelphia market. Target neighborhoods like Brewerytown, Kensington, and Point Breeze, where demand and ARV potential are currently strong.

    Your skills in renovations will give you a significant edge in controlling costs and boosting returns. If you need assistance, I’m here to help.

    Best regards, 

    Stevan

  • Member since 2024 · 5 posts · 1 vote
    1y
    Quote from @Stevan Stojakovic:

    Welcome to the U.S.! With your renovation background, you're well-positioned to excel in house flipping. To find deals in Philadelphia, focus on off-market opportunities by networking with wholesalers and local investors, attending meetups, and leveraging platforms like PropStream or MLS. (Auctions and foreclosures can also provide great leads.)

    With $20K, hard money loans are a practical option, as they emphasize a property's ARV over your financial history. Partnering with investors to share profits is another avenue to increase capital.

    For your team, connect with electricians and agents through local investor groups or platforms like Angie's List. Seek an agent experienced with investors who knows the Philadelphia market. Target neighborhoods like Brewerytown, Kensington, and Point Breeze, where demand and ARV potential are currently strong.

    Your skills in renovations will give you a significant edge in controlling costs and boosting returns. If you need assistance, I’m here to help.

    Best regards, 

    Stevan


     Thank you very much for your support. Really appreciate it. Really helpful 👌 

  • Real Estate Agent · Philadelphia, PA · Member since 2023 · 13 posts · 3 votes
    1y

    Hey Ilir, 

    Welcome to the U.S and Philadelphia. Like everyone else is saying, learn more about the market here in Philly. It is pretty interesting. I would also join a bunch of Investor groups via facebook and try to connect with as many people as you can. Im an agent/wholesaler here & I'd love to connect and see if I can help with anything. Good luck!

  • Lender · Chicago, IL · Member since 2017 · 108 posts · 34 votes
    1y

    @Ilir Livadhi, welcome to the US and to flipping. Studying the local market makes a lot of sense. I've made investments in Chicago, so I understand urban markets a little bit. I'm also a licensed mortgage broker with a lot of fix-and-flip programs, including some that require as little as 10% down on the purchase price, and provide 100% of the rehab funding. Since this program doesn't require reserves, your cash can go further.

    Let's connect. I'm happy to share my investment and lending experience. When you are ready to move forward, I'd be happy to help you look at a deal.

    Jeff

  • Rental Property Investor · Philadelphia, PA · Member since 2015 · 480 posts · 362 votes
    1y

    Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid. Consider getting some genuine coaching to jump the learning curve. Drive around the neighborhoods to understand the lay of the land - if you have someone who will take you around and explain, better yet.  And working for a contractor that does flips or rentals would be ideal.

  • Member since 2024 · 5 posts · 1 vote
    1y
    Quote from @Sheryl Sitman:

    Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid. Consider getting some genuine coaching to jump the learning curve. Drive around the neighborhoods to understand the lay of the land - if you have someone who will take you around and explain, better yet.  And working for a contractor that does flips or rentals would be ideal.


     Hi Sheryl,

    Thank you for your advice. Currently I work as a Project Supervisor, we do rehab in multi-family units. Im reading a lot right now and this helps me a lot. 2 things I can't understand from properties I've looked until now ( which all requires a lot of work), 1- owners who wants to sell their property and tells me also the rehab price, which makes no sense for me,( even the rehab price for me, with a quick estimation is 30-40% less expensive then told to me. ), 2- Realtors that don't knows the ARV or rent price after rehab.

    Thank you again 

    best, 

    Ilir

  • Rental Property Investor · Philadelphia, PA · Member since 2015 · 480 posts · 362 votes
    1y

    @Ilir Livadhi I think you are referring to property wholessalers telling you how much the rehab will be - and as you see, their numbers are often not based on reality. They are based on selling to inexperienced buyers.  Most realtors are not experts in investing and do not themselves invest. But I would think they all can easily run the comps so you know the numbers you are aiming for in any given neighborhood/block/property.  If you need some connections, I run the most active group of small landlords in the city and have a network of connections that you could potentially leverage. DM me if you need anything.

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