Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Educate yourself on how to handle marketing, screening, late rent, lease violations, etc.

Purchase price: $35,000 Cash invested: $38,000 Another flip ready in the market. https://www.zillow.com/homedetails/4467-Sims-St-Columbus-GA-31907/76572533_zpid/

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.

If it’s a 2 bedroom on paper and a 5 bedroom in reality, then this is a significant problem and is probable a big reason why you say it’s been sitting on the market.

Are you investing in your local market?

These numbers suggest this could be a strong buy-and-hold investment, assuming the market supports your rent and expense estimates.Good luck!

There is no one size fits all answer for this question, market to market, and property to property are all different. 

I can say that with Phoenix, a multitude of opportunities can be in store for you if you invest in their market, network, or even just want to get familiar with it.What type of real estate are you into: fix & flips, buy & hold, multi-family, or something else?

I am not sure if I should stay local to my market.