- August 29, 2018 at 6:55 pm #240197
Hi what do you suggest for a new home flipper? My husband and I, were contractors for flippers and home owners. I can buy 4-8 low income homes rehab and rent out I estimate min of 2,000 -5,000monthly income. I am worried that I ll spend more time trying to collect, evict, extensive repairs. Get 2 homes in a middle class and hope to have rent paid on time most of the time with less damage. 1600-2,000 monthly income. I can probably take out less of a loan with 2properties.
Thank you for your time.
CRYSTALAugust 29, 2018 at 6:59 pm #240219
Thanks for visiting our site and posting on the forum. Deciding on what type of neighborhood to invest in is up to you. I would recommend looking at properties both in the daytime and the night time so you can see neighborhood activity. Also, check out what’s nearby, shopping, transportation, parks etc because tenants want to live nearby to these things, and look at school ratings because they also matter to families with school aged children. There are pros and cons when investing in lower income and middle class neighborhoods. If you’re going to collect the rent yourself, make sure you buy in a neighborhood that you feel safe in, is easily accessible for contractors and isn’t too far from where you live and work. Here’s an article on how to find properties to flip. https://fitsmallbusiness.com/how-to-find-properties-to-flip/
and check out our real estate investing section for more fresh content.
All the best,