Memphis investors, is it realistic to expect deals where I can buy a SFH for $100,000, spend $40,000 on renovations, and then have it appraised for $170,000+?

Here’s how each factor might play into your strategy:Bear Market: When home prices are declining, flipping can be riskier because the value of the property could decrease during the renovation period.

Go check different renovations around,or check the permits of the recent flips etc... or go home depot in the morning and check who comes there at 6, anf get their info.Pro desk should have plenty of them.

I would strongly recommend not starting renovations until the seller has fully moved out.

Purchase price: $55,000 Cash invested: $65,000 Sale price: $140,000 First complete renovation all but reframing--new electrical, HVAC, plumbing, complete bathroom and kitchen demo and remodel.

I've done it all... buying tenant occupied, doing BRRRR's, section 8, doing full gut renovations, etc.I also help clients do these things from out of state.I lived in Troy (just outside Detroit) from 2017-2022 but I'm back in California now.

Tampa is a fantastic market, and being on-site will give you invaluable insights into both the renovation process and the local real estate landscape.Having your real estate license is a huge advantage, especially in a competitive market.

If you got the property as a steal, I agree with @Alex Olson, sell it instead of doing value add renovations with new triplets.

Here's some copy & paste advice we hope you find useful:----------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

How did you buy the property that needed renovations?