Elite Realty, LLC
Toni Osterhout, Elite Realty, LLCPhone: (860) 482-4063
Email: [email protected]

House Flipping: Three Areas Worth the Investment

by Toni Osterhout 02/07/2021

Image by Mark Ort from Pixabay

While house-flipping in general is slowing down, and profits are slowly decreasing, there are still a few places left worth flipping. Here, real estate investors can score big returns by buying foreclosed or distressed properties, renovating and then selling them. If you're an investor who's looking to dive in, these five U.S. cities are tops in the nation for home-flipping profits.

Pittsburgh, Scranton, Reading

Pennsylvania is a big player when it comes to the best cities for home flippers. Pittsburgh, Scranton, and Reading all consistently average well above a 100-percent ROI for investors brave enough to take the plunge, with Scranton topping the list at 134, according to AnchorLoans. Pittsburgh is second at 132.5 percent, and Reading comes in at an impressive 129.3. Several factors combine to make these areas ideal for home investors:

  • Pennsylvania hovers near the top of the list for home foreclosures, meaning plenty of properties are available.
  • Home values in these cities are beginning to edge up. Once you've flipped your home, you won't have any trouble selling it. 
  • These towns are riddled with older homes that sell low because they need renovation. Once flipped, the market for reselling them is prime. 

If you're considering entering the house-flipping industry, these three towns in the Keystone State are good places to begin. 

Kingsport, Tennessee

Kingsport, TN boasts high livability scores, thanks to its strong economics, sweeping Smokey Mountain vistas, and tons of green space. The average annual income here is around $37,500, lower than other cities in the U.S. But it's high enough to make the average home highly attainable at just over $135,000. Kingsport is right in the middle of a huge tourism industry that's built around country music, and you can't fault the view. House flippers who come to buy up older homes, renovate and then sell them are earning up to a 104-percent ROI. This makes Kingsport a major attraction for investors looking to flip. 

Augusta, Georgia

Home flippers in Augusta are still clearing an average profit of 101.1 percent -- even as the flipping industry continues to decline. This is due, in part, to the downtown area that's rapidly under development. Augusta University and the Cyber Training and Innovation Center are huge draws for this area, and rental properties are in great demand. This makes downtown Augusta a prime real estate market for anyone hoping to buy high and sell higher. 

If you've always wanted to try your hand at real estate flipping, you're getting in near the end of the game in 2020. Still, if you snap up the right properties in the right areas, there's money to be had. These cities are great jumping-off points.

About the Author
Author

Toni Osterhout

Toni is an accomplished and experienced realtor serving Litchfield County for over 13 years. She is a full time career professional that is available for you seven days a week for all your real estate needs. She is a part of the Litchfield County Board of Realtors®, CT Association of Realtors®, CMLS®, MLS, E-Pro, and Affordable Housing Committee Member of LCBR 2006.

After earning her degree in Fine Arts and Graphics from NCCC she decided she wanted something more for herself and became a licensed CT Broker. She excelled at completing the Principles and Practices of Real Estate course and Appraisal 1. Toni continues her real estate education by participating in Real Estate educational programs every 2 years for Contract Law, Environmental Issues, Ethics, and Fair Housing.

During her time at Coldwell Banker she achieved Agent of the Month in Listings in 1998 and Agent of the Month in Sales in 2000 as well as the Top 5 in Sales. She was inducted into the International Diamond Society in 2002. Today, she remains in the top 19% of all Sales Associates across the Country.