So. Cal. Flippers, what are you spending on your flips?

[Corey Fenner]

Hi, my sister and I are new to flipping in the North OC area.  Currently driving for dollars and finding some potential deals, sending yellow letters, doing a lot of pre-analysis.  No deal yet, but I'm wondering what the So. Cal flippers are budgeting/spending on your flips.  Older neighborhoods, nice quiet streets, around 1000-1600 sqft.  Thanks.

[Manolo D.]

Rehab is not really a range, but is more like what you want done. A carpet and paint job could go only 5k. A new kitchen, 2 new bathrooms, new landscape, interior remodel, fix and make nice exterior, could go 50k. An REO with foundation issues could cost 150k. I guess the answer is 5-200k for a 3/2 in MOST LA areas where ARV is less than 700k.