According to National Mortgage News, nearly 54,000 homes were flipped in the second quarter of this year. Investors profited an average of $67,516 per property and had nearly a 50% return on investment, according to Attom Data Solutions.
While the return on investment has declined nationwide for three quarters in a row, some cities still have a strong flip market. Others should likely be avoided.
Here’s a list of the five best and the five worst cities for house flipping in the second quarter:
#5: Cleveland, OH
#4: Harrisburg, PA
#3: Philadelphia, PA
#2: Baton Rouge, LA
And the best city for flipping homes…
#1: Pittsburg, PA, with a return on investment of 146.6%.
#5: San Francisco, CA
#4: San Jose, CA
#3: Austin, TX
#2: Boise, ID
And the worst city for a flip…
#1: Honolulu, HI, with only a 17.8% return.Questions? Contact David Krushinsky Today!