Second quarter 2016 completed home flip transactions rose 14 percent from the previous quarter and increased by 3 percent from 2015 to the highest amount of home flips since the second quarter of 2010.
A home flip occurs when a property is sold for the second time in an arms length transaction within a 12-month period gathered by real estate Data Provider ATTOM Data Solutions in over 950 counties throughout the U.S.
In certain California metropolitan areas, flippers made over $100,000 per transaction:
The five markets with over $100,000 in average gross profit in Q2 2016:
San Jose, ($161,000);
San Francisco ($146,000);
Los Angeles ($125,000);
San Diego ($111,250); and
Oxnard-Thousand Oaks-Ventura, ($110,000).
For those who want to participate in real estate investing in one of these markets, use an expert mortage professional who has access to rental property, vacation home, and primary residence loans. Down payments are based on credit score, credit history, annual income, and reserves.