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Updated over 8 years ago,
Rural House Filipping?
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.