Flip up tp 100k in long island?

[Sam G.]

Hey guys, thanks for the great forum! If I have 100k to invest in a flip- would Long island be a potential destination or should I look into more affordable location in upstate and Jersy? How do you find an area in jersey for example that would be good for a flip?

Thanks! 

[Erik B.]

I wouldn't waste your time trying to source a profitable deal on long island with the current state of the market. The average home in Nassau is $595k and suffolk is $456k. 

Anything listed below 500k is swamped with offers which leads to a bidding war and people are paying way above market value. 

Woukd be worth looking elsewhere or being patient and increasing your cash on hand as much as you can.