Want to Flip Homes? Move to Nashville – House Flipping Up 50%

    indexYou’ve probably seen all the popular house flipping shows dominating cable channels these days…..Flip This House, Flipping Las Vegas, Flipping New York, etc.  But did you know one of the hottest house flipping markets in the country is Nashville.  That’s right Music City is home to a super-hot house flipping market.

    According to Realtytrac.com, house flipping in Nashville was up 50% in the third quarter of 2013 compared to the same time period the previous year.  Only San Antonio, TX beat out the “Third Coast” by coming in at a 52% increase.

    What defines a “house flip”?  Typically it’s purchasing and reselling a house within a period of six months.

    The average sales price of single-family homes flipped in the first quarter was $55,574 higher than the average original purchase price. That gross profit provided flippers with an unadjusted return on investment of 30 percent of the average original purchase price.

    “Slowing home price appreciation early this year put some investors in danger of flying too close to the sun,” said Daren Blomquist, vice president at RealtyTrac. “But investors appear to have recalibrated their flipping strategy. This is another good sign that this housing recovery is behaving much more rationally than the last housing boom, which was built largely on unfounded speculation rather than fact-based calculations.”

    What are ways house flippers find deals?

    Besides using traditional methods of searching listings using sites such as Zillow.com, Realtor.com, etc the best deals are often found through relationships.  Getting a home before it goes on the market is the ideal way to find the best deal.  Those are not easy to come by, but over time through networking and developing relationships with top brokers you too could be on your way to flipping homes in Nashville.  If you’d like to talk with a knowledgeable and experienced real estate professional, don’t hesitate to reach out to our office.

     

     

     

     

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