How can you turn a profit flipping homes? Part of it has to do with the market, and according to RealtyTrac, Orlando is your best bet, followed up next by none other than Las Vegas.
FOX News Radio’s Rich Johnson has details:
If you fancy yourself the next Scott Yancey, star of the reality show “Flipping Vegas”…
(Yancey) “I buy low, fix them fast, and get ’em back on the market as soon as possible.”
Las Vegas might be a good place to start. RealtyTrac ranks Vegas as the second-best market for home flippers, based on gross profits. The average home in Vegas goes for $134,000, and the average flip brings that up to about $204,000, a 53% increase.
But that doesn’t count what you spend to fix it up.
Orlando, Florida is number one for flips, Phoenix number three, followed by Tampa and Memphis.
Rich Johnson, FOX News Radio.
Editor’s Note: The rest of the top ten markets for house flipping are Miami, Florida, Lakeland, Florida, Nashville, Tennessee, Sarasota, Florida and Tucson, Arizona.