How to choose your market for house flipping?

[Rich Merlino]

Successful house flippers:  How do you choose your market?  I am looking for 3/2 SF's, but where?  

What criteria do you use to choose one town over another?  One neighborhood over another?  

[Chad U.]

@Rich Merlino @Valerie Hiscoe

Valerie is providing an excellent overview of what can happen when you try and flip a property from a distance.  There are many gurus out there (particularly in Canada) who preach how easy it is to flip a US property from a distance.  Nothing can be further from the truth.  J Scott, likely one of the best known and successful flippers here on BP, can attest to that when he and another very successful flipper tried to take their business to Milwaukee, I believe.  They had numerous difficulties which he's written about.   

No one will look after your money/investment as much as you do.  The best thing one can do is to partner with someone local to the area with experience.  If they have a vested interest in the project, then it gives them more incentive to ensure its success.  This to me is far more important than choosing the best market to invest in.