October 25, 2017
Tampa Ranks as 6th Top City for Home Flipping
A new report by WalletHub ranks the best and worst cities for flipping houses in the U.S., and Tampa made the top ten list. The study looked at 150 of the biggest cities in the nation, and ranked them based on three main areas – market potential, renovation and remodeling costs, and quality of life—and 22 individual factors.
Home flipping, the practice of buying property for the purpose of reselling it for a profit, usually following repairs and improvements, has been popular for a while, and even more trendy now due to popular reality TV shows.
With both home prices, building materials and labor costs all high, flipping for a good profit can be challenging right now. That’s why choosing a home in the right market for investment is important.
Who Made the Top Ten List
Here are the cities that WalletHub ranked in the top ten as best places for home flipping:
- El Paso, Tex.
- Sioux Falls, S.D.
- Fort Wayne, Ind.
- Peoria, Ariz.
- Oklahoma City, Okla.
- Tampa, Fla.
- Grand Rapids, Mich.
- Boise, Idaho
- Greensboro, N.C.
- Springfield, Mo.
Interesting Florida Facts
Besides Tampa, Orlando came in 16th on the best places lists, while also placing in the top half of the list were Pembroke Pines, 24th; Cape Coral, 51st; Jacksonville 55th; Tallahassee, 58th; and Port St. Lucie, 69th.
The report also listed several other interesting facts about Florida. For example, Tampa and St. Petersburg tied for second for cities with the highest percentage of home flips. Orlando also tied with Seattle, Atlanta, and Tacoma for having the most real estate agents per capita.
About Topouzis & Associates, P.C.
Topouzis & Associates, P.C. provides title, search, and settlement solutions that help streamline transactions and reduce the risk of noncompliance. We have several attorneys on the ground in the states where we practice. We work with realtors, lenders and real estate investors in Florida, Rhode Island, Massachusetts, and Washington, D.C. To learn more about our array of services, contact us today!