May 06

8 Best Markets for Flipping Houses

8 Best Markets for Flipping Houses.

8 Best Markets for Flipping Houses. Image courtesy of adamr / FreeDigitalPhotos.net

8 Best Markets for Flipping Houses. Image courtesy of adamr / FreeDigitalPhotos.net

 

More investors are rehabilitating homes and looking to sell them for profit, a move known as flipping houses.

RealtyTrac recently evaluated more than 600 metro areas to find where flipping single-family homes offers some of the highest returns based on the investor’s gross profit. The top eight metros for house-flipping are:

Orlando

Average purchase price: $103,701

Average flipped price: $168,677

Gross profit percent: 63 percent

Las Vegas

Average purchase price: $133,198

Average flipped price: $203,945

Gross profit percent: 53 percent

Phoenix

Average purchase price: $146,528

Average flipped price: $210,290

Gross profit percent: 44 percent

Tampa, Fla.

Average purchase price: $79,538

Average flipped price: $113,676

Gross profit percent: 43 percent

Memphis, Tenn.

Average purchase price: $68,318

Average flipped price: $96,870

Gross profit percent: 42 percent

Miami 

Average purchase price: $138,064

Average flipped price: $189,291

Gross profit percent: 37 percent

Lakeland, Fla.

Average purchase price: $68,444

Average flipped price: $93,715

Gross profit percent: 37 percent

Nashville, Tenn.

Average purchase price: $108,851

Average flipped price: $146,872

Gross profit percent: 35 percent

Source: “Best Markets for Flipping Homes,” HousingWire (May 2, 2013)

 

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