Flippers- what is your ROI target to make a deal worth it?

[Rosie Giacosa]

So my wife and I have done a few flips in South Florida and have one in the pipeline. However, we are not seeing the amount of good deals so we are not at the "three at a time" pace that we want to be at. I'm thinking we may be expecting too high of a return on flips than is realistic for the Miami-Dade market. Up to know, we have had a requirement to net at least $30,000 to make our time and effort worth it. I've seen many flippers in Miami bidding properties up to a point where the net return will be closer to $10,000 for a deal. They will cut corners, avoid permits, use cheap materials, etc to try to make up some margin. However, this keeps them from getting top dollar. Question: with the potential for a market correction in the near future, especially in Miami, what net return are you requiring today to make a deal worth it for you? Thanks, Art Giacosa