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Updated almost 4 years ago, 12/12/2020

User Stats

222
Posts
126
Votes
Matt McConkey
  • Rental Property Investor
  • Phoenix, AZ
126
Votes |
222
Posts

St. Louis or Indianapolis for my first remote flip?

Matt McConkey
  • Rental Property Investor
  • Phoenix, AZ
Posted

Hey BPers, 

My business partner (also my wife) are the competitive type. Now we're going to take this energy and put it toward finding, buying, rehabbing and closing a flip before year's end. She will be exploring a different market than myself. Whoever gets a flip under contract first wins.  

I've narrowed my two markets to: St. Louis and Phoenix. 

Quick Background -- We've been remotely wholesaling in Texas for the past three years, but want to open up a new market for a flip. 

Phoenix -- Pros -- We live here, I already know A LOT of people would could get the job done and it's in our backyard. Cons -- Extremely competitive market and higher entry point $$$. Less margin for error. 

St. Louis -- Pros -- I'm originally from central Illinois and my heart has always been in St. Louis. I eventually want to own rentals in St. Louis and not in Phoenix. Lower $$$ entry point. Cons -- I don't know a single person in the REI market. Remote flipping will be no easy task.

What would you do and why? 

***Sorry the headline says Indianapolis.***

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