Where would you do your first flip?

[Michelle Jones]

Hi everyone,

My husband and I want to do our first flip. We are not new to real estate. I'm a broker and we own rental properties but the flipping side of real estate has always been our dream. We live in CA but I want to start much smaller with a state that has lower home values. The 1st one will be like a proof of concept if you will so I'm not too concerned on hitting it big just want to have a lower risk experience. So my question is where is a good place to do a flip where ARV is around $150K to $200K?

[Jonathan Greene]

Even though you guys have experience in the game, flipping is another game altogether so having to go out of state for a first one will create some challenges and potential lost money for sure. Where are your closest friends or family and where else have you lived? I would examine those markets to see if the deals would work with what you want to spend because then you have boots on the ground and/or a competitive advantage in that area instead of choosing a town you don't know and building a whole time that are only verified online.