According to the Tampa Bay Times, the Tampa Bay area tied with Las Vegas and Fresno, California for second place in house flips as a percentage of total single-family home sales during 2015. House flipping in Tampa Bay is back.
RealtyTrac looked at 110 different metro areas that had at least 250 house flips, with Memphis being the only city to beat out the Tampa Bay area. Tampa had over 4,500 house flips during 2015 according to this report.
In Tampa Bay, the average return on investment was 66.5% with a $51,900 average profit. Many homebuyers are starting to flip even though they have no prior experience in doing so, thanks to some lenders now offering short-term loans to house flippers.
If you want to get in on the house flipping business while it’s hot in the bay area, contact our team at Coast 2 Coast Realty by calling 1-877-585-7356 (RELO).