I would like to flip houses in different states, and would like to know if anyone has any experience in doing this. In this situation, how can I protect myself? I’ve set up an LLC in the state I’m in, but am only governed in that state. Any information will be much appreciated.
If you are a newbie, I would say stay on your own turf, learn it like the back of your hand and focus on that only.
I asked the same question before and I am just giving you the advice I was given by many people.
Some people do it and do it well, me personally want to be near my properties, but that’s just me.
Hopefully some of the more experienced folk here will reply as well.
I appreciate your advice, however my area is not a very good area to do flipping. Average 3/1 home w/termite tenants goes for $600000 (HI). I’d rather do deals where the average home is around $100000-$200000.
Where do you live?
I say flip where the deals are!! I live in Colorado and own in 6 states there are great buy and hold deals everywhere!
Thanks Robb for your reply. What is the process on doing out of state deals? Is it done the same way as you would in the state you’re in? Could you give me some details on how you do it?
I’m in the same boat. I live in Ewa beach and was thinking of doing some flipping in Illinois since I have family there. What out of state areas are you considering??
I haven’t decided where to flip. Preferrably in areas where price is $100000-200000 range and hot market. I sent you a Instant message.