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Which Cities Are Best For Flipping Houses?

 

Real estate flipping has always been a prominent form of real estate investment, but it has recently gained increasing popularity. Due to an abundance of reality shows that showcase house flipping, an entire new generation of real estate flippers has emerged. However, flipping houses may not be as easy as it appears on T.V, as a lot of factors come into play. One of the biggest influences on real estate flipping is the location of the real estate. In some cities it is much easier to flip houses, while other cities may allow you to gain a much bigger profit from flipping real estate. Here are some of the best cities for real estate flipping.

 

El Paso

The best place to flip real estate in the country is El Paso, Texas thanks to its high market potential and low renovation costs. A stable real estate market has made buying houses for sale in El Paso, TX and then immediately selling them almost risk free for house flippers. In addition to a stable real estate market, the average price for a home in El Paso is also well below the national average, something that is almost unheard of for a city of its size. If you’re looking to start flipping homes, then you would be wise to start in El Paso. 

 

Baltimore

Baltimore’s stronger than usual rebound from the 2008 housing crisis has made the city one of the premier locations to flip real estate. In recent years over 7% of the city’s home sales were flipped properties, well above the national average. Baltimore real estate can be very valuable due to its proximity to the nation’s capital. This gives real estate investors a great opportunity to purchase run down Baltimore real estate, provide a few improvements, and then flip the property for a large profit.

 

Memphis

One of the biggest areas for house flipping in the southeast is Memphis, Tennessee. In a recent study about house flipping, researchers found that 39 U.S zip codes where one in five house sales was a flipped home. Of those 39 zip codes eight are located in the Memphis area. Memphis is an area that is typically associated with high foreclosure rates and struggling properties. This makes it extremely easy for investors to come in, purchase properties when they have low value, and then flip them for maximum profit.

 

St. Louis

The St. Louis area is one of the best areas in the midwest to engage in house flipping. Like Memphis and Baltimore, St. Louis has a high number of foreclosures, allowing investors to easily purchase real estate at a low price. In addition, St. Louis has an extremely low average flip time of only 173 days. The low flip time and an above average ROI rate makes St. Louis an extremely attractive market to flip real estate. If you’re looking to earn some quick profits, then try entering St. Louis’ fast paced market.

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