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Nashville among 8 Best Markets for Flipping Houses

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NASHVILE AMONG 8 BEST MARKETS FOR FLIPPING HOUSES
Daily Real Estate News | Friday, May 03, 2013

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

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 FL
Average purchase price: $103,701
Average flipped price: $168,677
Gross profit percent: 63 percent

Las Vegas NV
Average purchase price: $133,198
Average flipped price: $203,945
Gross profit percent: 53 percent

Phoenix AZ
Average purchase price: $146,528
Average flipped price: $210,290
Gross profit percent: 44 percent

Tampa FL
Average purchase price: $79,538
Average flipped price: $113,676
Gross profit percent: 43 percent

Memphis TN
Average purchase price: $68,318
Average flipped price: $96,870
Gross profit percent: 42 percent

Miami FL
Average purchase price: $138,064
Average flipped price: $189,291
Gross profit percent: 37 percent

Lakeland FL
Average purchase price: $68,444
Average flipped price: $93,715
Gross profit percent: 37 percent

Nashville TN
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); Daily Real Estate News (050313) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services

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