Have you ever dreamt of buying a house and flipping it for a profit? Well if you dreamt of doing so in Tampa then you just might be in luck.
According to WalletHub’s 2017’s Best Places to Flip Houses, Tampa is the sixth best city to flip a house in. The study came after 2016 saw more than 126,000 house-flipping investors, which is the highest rate since 2007, and an average profit of $63,000.
WalletHub analysts studied 150 of the largest cities in the U.S. across 22 key metrics of market potential, cost, and quality of life. With those metrics data ranged from the median purchase price to average full home remodeling costs to house-market health index.
Tampa ranked eighth in ‘market potential’ rank, 19th in ‘renovation and remodeling cost,’ and 66th in the ‘quality of life’ rank. The large city also tied second with St. Petersburg for ‘highest percent of house flips.’
Just a couple of months ago in May, Tampa was deemed as one of the best places for people to buy their first house in. The study, done by real estate website Zillow, looked at factors such as number of available homes, the cost of renting versus buying, and homes with price cuts.
Orlando was also at the top of the list for best places to buy first homes in and in WalletHub’s study on best places to flip houses Orlando came in 16th on the list. The city has the most real-estate agents (per 100,000 residents).
Other Florida cities listed in the results are: Pembroke Pines (24), St. Petersburg (36), Cape Coral (51), Jacksonville (55), Tallahassee (58), Port St. Lucie (69), Fort Lauderdale (84), Hialeah (90), and Miami (110).
