Have you ever been 1st flip in a neighborhood? Did you change you

[David Wolf]

A dilemma I am hoping some experience flippers can chime in on. Please avoid commenting until we get some real experience responses. I need real scenarios and not opinions. We are putting a house under contract at a good price but their are absolutely no flips in the neighborhood. Purchase price is $88/sq ft and the house I'd dated but clean and well maintained.avg price in the neighborhood is $120/sq ft so it's a good buy that needs lipstick, but their has not been a single property updated in the neighborhood. For other flippers have you ever been the 1st to flip in a neighborhood? If so, did you keep the rehab budget really low, like just repainting the cabinets, or did you do a full renovation expecting to get a much higher price per foot that. The other properties not yet updated? We typically est. $25/sq ft for full cosmetic rehabs as a basic measure and If I could only get $125/sqft I would have to do more simple rehab like not gutting the kitchen to make this work if I cant get a record sale price per sq ft. I k ow to not try and out do a comp in a neighborhood that has already had a nicely updated sale, but what about a neighborhood where no nobody has tried. Your thoughts please. We have ran I to this several times now and have opted for more of a basic cleanup rather than full renovation model