All Forum Posts by: Michelle Jones

Even though you guys have experience in the game, flipping is another game altogether so having to go out of state for a first one will create some challenges and potential lost money for sure. Where are your closest friends or family and where else have you lived? I would examine those markets to see if the deals would work with what you want to spend because then you have boots on the ground and/or a competitive advantage in that area instead of choosing a town you don't know and building a whole time that are only verified online.

0 Votes

Hi everyone,

My husband and I want to do our first flip. We are not new to real estate. I'm a broker and we own rental properties but the flipping side of real estate has always been our dream. We live in CA but I want to start much smaller with a state that has lower home values. The 1st one will be like a proof of concept if you will so I'm not too concerned on hitting it big just want to have a lower risk experience. So my question is where is a good place to do a flip where ARV is around $150K to $200K?

1 Vote

Originally posted by @Jackson Babcock:

@Michelle Jones

Are you planning on self managing this property or hiring third party management? If self managing I would be looking for something within close driving distance for when problems arise you can take care of them easier.

Hiring a property manager 100%

0 Votes

Originally posted by @Account Closed:

@Michelle JonesLos Angeles

Ummm that's a little out of my price range... Even the hood is going to cost at least $500K for a duplex.

1 Vote

Hi all! I am looking to purchase a 2-4 unit multifamily property. I am from CA and just moved to CO but both of those areas are super expensive to get started in. I am wording what cities have a relatively low entry cost ($100K-250K) but yield good rental returns. I'm not super worried about appreciation (I know for example Cleavland OH has pretty cheap houses, relatively high rents but not much appreciation). I am going to start a direct mail marketing campaign/ cold calling in some areas in an effort to locate an off-market property, I just need ideas on some cities I should target. Any ideas? Also, any general advice for a newbie who only has 1 door is welcomed! :-)

5 Votes

All Forum Posts by: Michelle Jones

Michelle Jones has started 2 posts and replied 5 times.

Post: Where would you do your first flip?

Post: Where would you do your first flip?

Post: First Multifamily Property - Where would you buy?

Post: First Multifamily Property - Where would you buy?

Post: First Multifamily Property - Where would you buy?