House flipping can be a very lucrative business to be in, but is it really as good as the TV shows portray it? Well that depends on a lot of variables. Is the neighborhood a desirable neighborhood to live in? Can you get into the property at a low enough price? What will the build cost? Diana Olick with CNBC recently did a report on this topic and said that according to ATTOM Data Solutions, Nationwide Gross Profits are at their highest in 18 years, averaging 68k. The number of flippers using a mortgage has increase 34.8% and the number of house flippers has increased to an all time high. Due to housing market getting more expensive, returns have dropped 2.1%. Understand that Profits and the ability to get mortgage have increased but so has the competition and risk.
Author:Semion Androne Phone: 513-477-3865 Dated: March 12th 2018 Views: 297 About Semion: A Licensed Realtor working in the South/West Ohio area since 2005.
Member of the Ohio Association...
View our latest blog posts in your RSS reader. Click here to access.