Those of you in the flipping industry know location can make or break your deal. Fortunately, we live in an age where getting our hands on predictive analytics is easier than ever. While predictions are never guarantees, they do form an important part of how we evaluate potential deals.
For your convenience, we’ve combed through some of the most recent research indicating which states—and even specific cities—may have the most healthy environments for house flippers. This information could form a useful basis for your research into your own next flipping transaction, or help inform other transactions in these areas. First we will look at the best and worst states for flipping, and then another source’s predicted top 10 cities for house flipping in 2019.
10 Best States for Flipping
CNBC gathered housing data for each State while producing a detailed breakdown of flipping information. According to the data, house flippers may be particularly interested in checking out markets inside of these ten States:
- New Jersey
Which States are “best” among these really depends on your criteria. For example, Pennsylvania boasts the highest ROIs by percentage at 164%, while Maryland ranks higher in terms of profits in dollar value.
5 Worst States for Flipping
The same criteria used to determine the best states for flipping in the source above were also applied in reverse to determine the worst states for these transactions. These are projected to be the five worst states for flipping in 2019:
- South Dakota
10 Best Cities for Flipping
WalletHub crunched the numbers on 150 housing markets to determine the cities flippers should look into for 2019. Items taken into account for placement on this list include health of the general market, average costs of housing and remodeling work, and even quality of life for renters. The ten cities the survey determined outlook was highest for are:
- Sioux Falls, SD
- Fort Wayne, IN
- Oklahoma City, OK
- Lincoln, NE
- El Paso, TX
- Lubbock, TX
- Laredo, TX
- New Orleans, LA
- Boise, ID
- Tampa, FL
Do Your Due Diligence and Get Professional Help With Any Investment
These items may be great starting point for your research, but savvy investors should note that due diligence is always their responsibility. Some of these factors could change for a variety of reasons at any time, so always conduct thorough research before buying an investment. Get as much information from as many sources as possible, and always have qualified professionals review any deals you engage in.
If you’re in need of a real estate attorney or legal service for your own real estate business, please contact the experts at Royal Legal Solutions today. We’re happy to answer your questions or set up your personalized consultation. And yes, we do have investors contact us about taking a look at specific deals regularly. Let our team of professionals help guide you along your investing journey and defend the assets you’ve worked for. Reach out today.