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1 Flip For 1Million Or 10 Flips For 100k
Are you the kind of person who can take large risks and sleep at night or do you prefer to be the consistent rinse and repeat low risk type? These are the real kind of questions you would need to ask yourself when deciding if you want to a property with an ARV of $1,000,000 or 10 properties worth $100,000 each. Both will most likely net you about the same amount of money assuming you have the ability to execute correctly and have run your resale numbers right. The skill set of flipping a 1M home is not to be breezed over here as it is a massive factor in weighing out the decision to take on a home like this. Making a mistake on a 1M home is amplified and extremely costly if your not careful. You have to determine your own ability which is determined by prior experience as well as your appetite for risk. If you are able to be honest with yourself and know your market as well as your ability to accomplish the construction on a 1M property, then it might be the right road for you. If you can't 100% confidently say that you can do this, the 100K flips will most likely be more up your alley. Either way, you are making a similar amount of money in a similar amount of time so there isn't anything wrong with either direction.
Ian Walsh
215.839.3271
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