Miami, FL – Flipping houses is back!
During the housing boom before the 2008 recession flipping houses was big. Houses were bought, remodeled and later on sold again to make a bigger profit. Investors were earning more money and home buyers were happy they will getting a brand new remodeled house. Everybody was winning.
Flipping in 2015 is starting again. According to the Florida senate more than 9 percent of residential sales in Miami-Dade and Palm Coast were flipped.
Forbes Magazine listed the top five U.S markets for flippers and they are: Memphis, Ocala, Tampa, Miami and Detroit. iN 2014, Forbed reported that about 5.4 percent of all single family homes were flipped. The magazine also expects the number to rise as the economy recovers.
South Florida market is still hot even thought average home sale prices rise 8% this year. Still the timing is perfect to purchase single homes and condos to flipped them for a profit.
As a real estate broker I search many clients for properties especially in the luxury market for flipping. Flipping houses is a great way to earn between 30% to 56% of profits. Flipped houses don’t last on the market if they are priced for the right amount and flipping takes between a month and 4 month for completion with a team of experts.
Flipping is another investment opportunity to make profit in the Miami Real Estate market!
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