- WalletHub just posted an analysis on the best and worst places to flip homes.
- Insider has brought together the cities that promise the best return on investment.
- Two Pennsylvania cities landed the top spots on a list full of more affordable mid-size cities.
- See more stories on the Insider business page.
Buy low, fix, sell high, repeat. This is how some real estate investors bank.
Home reversal – or buying, renovating, and unloading a home at a profit – could also be lucrative for you. The average gross margin on a returned home was $ 63,500 in the first quarter of 2021, according to a recent ATTOM study.
Serial and blockbuster house pinball machines, like Tarek El Moussa and Christina Anstead from HGTV’s hit show “Flip or Flop,” say the first and most important step in flipping is finding the perfect property that needs of a facelift.
Location is key, especially in this fierce real estate market.
WalletHub just analyzed over 170 cities across the United States to determine the best cities for house flipping. They took into account 26 indicators, including market potential, median house prices, average renovation costs, real estate agents per capita, quality of life, etc.
Sioux Falls, South Dakota, topped their list of the best places to return to due to low renovation costs, but it wasn’t the place that promised the best return on investment. Pittsburgh, Pa., Took first place. Other areas that promised high returns include more affordable mid-size cities like Cleveland, Ohio and Brownsville, Texas.
The list below, presented in ascending order, lists the US spots with the greatest return on investment for domestic fins, per WalletHub. It also includes the size of the local population according to the US Census Bureau and the typical value of a house in the area by Zillow. There are some notable links, like the last four places on the list, which are all beach towns in Virginia.