More investors are rehabilitating homes and looking to sell them for profit, a move known as flipping. RealtyTrac recently evaluated more than 600 metro areas to find where flipping single-family homes offers some of the highest returns based on the investor’s gross profit. The top eight metros for house-flipping are:
Orlando
Average purchase price: $103,701
Average flipped price: $168,677
Gross profit percent: 63 percent
Las Vegas
Average purchase price: $133,198
Average flipped price: $203,945
Gross profit percent: 53 percent
Phoenix
Average purchase price: $146,528
Average flipped price: $210,290
Gross profit percent: 44 percent
Tampa, Fla.
Average purchase price: $79,538
Average flipped price: $113,676
Gross profit percent: 43 percent
Memphis, Tenn.
Average purchase price: $68,318
Average flipped price: $96,870
Gross profit percent: 42 percent
Miami
Average purchase price: $138,064
Average flipped price: $189,291
Gross profit percent: 37 percent
Lakeland, Fla.
Average purchase price: $68,444
Average flipped price: $93,715
Gross profit percent: 37 percent
Nashville, Tenn.
Average purchase price: $108,851
Average flipped price: $146,872
Gross profit percent: 35 percent
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