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Updated over 4 years ago on . Most recent reply

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38
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9
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Praveen Balaji
9
Votes |
38
Posts

Estimating out-of-state flips

Praveen Balaji
Posted

I'm an out-of-state investor investing in Charlotte. I recently purchased my first SFH completely remotely. For my next project, I want to improve my cash flow with a flip. I would appreciate some advice from experienced out-of-state flippers about estimating rehab costs remotely.

I have a reliable real estate agent on the ground who help me with my first project. I also have some contractors that I'm speaking with that are experienced with investors and flips.

Before I get my agent and contractor to estimate costs of a property, I would like to have a system in place where I can make some reasonable go/no-go decisions at scale remotely. How can I efficiently estimate what condition houses might be? Should I speak with the seller agent and then compensate for their bias?

Thanks in advance for all your suggestions.

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