DataInvesting

Where you can start flipping houses without flipping out

Not every person – or market – is made for flipping homes
  • The highest average ROI comes from PIttsburgh, Pennsylvania for fix and flips.
  • San Francisco, New York, and Washington, D.C. rank the highest in terms of walkable access parks.
  • Texas cities offer the lowest return on investment for fix and flips.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

So, you're thinking of fixing and flipping that 1920s shack you found in Oakland for $250,000? Think you're gonna turn a big profit on that flip and cash in like they do on TV? Think again. WalletHub, an online financial advisor that also happens to check credit scores, found the best places in the country to rehab a home to turn the best profit. The goal wasn't necessarily to rank 150 of the most populated markets on specific criteria: house-flipping market potential, renovating and remodeling costs, and quality of life -- all of which had maximum scores of 35. Source: WalletHub Under each of the three categories were specific points used to quantify data: average gross ROI, median purchase price, percentage of home flips, home turnover rate, housing-market health index, average sale-to-list price ratio and number of real estate agents per capita. Also factored into scoring was average kitchen, bath, home remodel costs, average construction worker salary, crime rate, wa...