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Updated almost 4 years ago, 12/12/2020
St. Louis or Indianapolis for my first remote flip?
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.***