Below are 2 recent articles from NationalMortgageNews.com about the best and worst markets for flipping properties. Do you agree with their rankings and market data?
It's definitely important to be cognizant of the market where your flip is located. Markets can change quickly, and for any reason. These changes can affect the sale and exit strategy for a property. Market conditions are an important piece to analyze when looking at a deal because location, location, and location can be the biggest component of any real estate purchase!
I looked at the slideshow. They rank them by "gross" profit. It took me a minute to understand why the returns were so good. The lower price markets seem to have the higher gross profits. But the more expensive markets, like San Francisco, you make more money because the properties are far more expensive.
I always disliked the word flip. If you renovate a house skillfully, you're really a real estate developer.
Today, the returns for flips have really declined. Lots of people are into it. The availability for financing is greater than ever.
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