Flipping a house involves buying a property, renovating it, and reselling it. It is a key measure of housing market activity. According to 24/7 Wall St., San Jose is killing it when it comes to flipping homes. In fact, they ranked the region as the #1 place in the county to flip a home. The average gross profit flippers nabbed in San Jose is $166,287. The average selling price of the renovated homes came in at $704,762... which is the highest among all areas in the study. Check out the full list of cities (metros actually) below.
TOP 10 BEST CITIES TO FLIP A HOUSE
1.) San Jose-Sunnyvale-Santa Clara, CA
2.) San Francisco-Oakland-Fremont, CA
3.) Oxnard-Thousand Oaks-Ventura, CA
4.) Ocean City, NJ
5.) Los Angeles-Long Beach-Santa Ana, CA
6.) San Diego-Carlsbad-San Marcos, CA
7.) Santa Rosa-Petaluma, CA
8.) Salinas, CA
9.) Seattle-Tacoma-Bellevue, WA
10.) Vallejo-Fairfield, CA
Source:
24/7 Wall St., Hat-tip to Barclay Livker
Thanks for your highly recommendations. I would have love to make amazing flips around all of those destinations as mentioned above, but only I've managed so far to make a dream house of my favorite in Salinas, CA.
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