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Updated over 8 years ago,

User Stats

39
Posts
10
Votes
Joseph Molander
  • Investor
  • Meridian, MS
10
Votes |
39
Posts

Rural House Filipping?

Joseph Molander
  • Investor
  • Meridian, MS
Posted

I just found what looks like an amazing deal.  The problem is its about two hours away.  Also it's in a very rural area.  What are some things I should be looking for when flipping a house in an area that doesn't have every many sales but the sales they do have are pretty big?  I'm also looking for a lender in mid to north Mississippi to fund this flip if we can get it under contract for the right price. below are the numbers.

Original List price $125,00

30 days later it's listed for $110,00

brick house built in 2015

4 bed 3 bath

3,100 sf

8+ acres with a pond and creek

somewhere in the neighborhood of $70,000 needed in repairs.  I looks like they never finished construction so all the cosmetic finishes are needed along with some landscaping and a long driveway. 

It's just outside one of the fastest growing cities in the state.

I would love your thoughts on flipping big projects in rural areas.  As usual thanks for everything BP.

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