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Updated over 4 years ago,
Estimating out-of-state flips
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.