Hi Everyone,
First time poster here. I live in a booming ski town and am looking to flip condos. I picked up my condo for a great price and did a complete remodel which has increased its value by significantly more than I put into it, which made me think why don't I do this with other condos and sell them at a profit (hopefully). I am a broker so I have access to MLS and have a jump on good deals.
The questions/situations I am seeing are- There is a limited number of housing options here so its difficult to pick up condos far below market value, its possible just rare. Inventory is always low here. So is picking one up for near market value and doing a overhaul worth it? IE will I get out more than I put in generally?
Also I haven't heard of many if any people doing this up here, could be a red flag or could be an untapped market?
Any other advice for a new flipper is greatly appreciated, specifically in resort areas. I am reading The Book on Flipping Houses and getting a plan together, but the vacation area adds a different dynamic to the whole thing.
Thanks for reading!!
