Top 10 Cities Where Flippers Prosper
Did you know the hardest part of the fix-and-flip process is finding a property? First off, many aren’t sure where to start, so they blindly stumble around on the MLS hoping for a miracle. As a result, they spend months time, money and energy and come up empty-handed. Attention: the MLS is one of the WORST places you can go to find profitable fix-and-flips. Do Hard Money did their homework and discovered you’re better off looking in foreclosure, auction and probate listings. But what good are these listings if you can’t find a desirable neighborhood? Or a solid area where the real estate market is profitable?
If you want the top 10 cities for fix-and-flips, you came to the right place! Starting in these cities will help you put your best foot forward in finding golden properties, qualifying for 100% financing. Here’s how we came up with this top ten list. First, with the help of Wallethub.com, data was collected from the U.S. Census Bureau, Realtytrac, Zillow, Houzz, and the Council for Community and Economic Research. Then, we compared the 150 of the United States’ most populated cities according to the following criteria: rehabbing and remodeling costs, quality of life rank and real estate market potential.
We then listed these 150 cities according to rank. Finally, we determined the total metric score by grading each metric on a 100-point scale (with 100 representing the best conditions for fix-and-flips) and determining each city’s weighed average across all metrics. Check out the top ten areas to find the most profitable properties below!
10. Springfield, MO – Total Metric Score: 64.6
Springfield, Missouri is an excellent place to find profitable fix-and-flip properties. This city scored the highest rank in rehabbing and remodeling costs, ranking 5 out of 150 cities. This city also scored 100 out of 150 in quality of life and 115 out of 150 in market potential.
9. Greensboro, NC – Total Metric Score: 64.8
Greensboro, North Carolina has a proven real estate record of solid profits, which is why Do Hard Money provides direct funding in this state. This North Carolina city ranked 11 out of 150 for rehabbing and remodeling costs, with a rank of 49 out of 150 for quality of life. This lucrative city also scored a 48 out of 150 for market potential. But as they say, the proof is in the pudding. Check out this incredible deal we funded in Greensboro, NC:
8. Boise, ID – Total Metric Score: 64.9
If you’re looking for a cheap state for rehab work with a fantastic quality of life ranking, Boise, Idaho is the place. Boise boasts a rank of 8 out of 150 in rehabbing and remodeling costs and a quality of life ranking of 13 out of 150. Boise also holds some market potential, ranking 129 out of 150 cities.
7. Grand Rapids, MI – Total Metric Score: 65
Do Hard Money directly funds in Michigan, and with good reason. Michigan shows a steady REI profit over the past decade. Grand Rapids, Michigan in particular shows solid market potential, with a ranking of 25 out of 150 cities. Grand Rapids also showed a rank of 29 out of 150 in rehabbing and remodeling costs and a quality of life ranking of 38. This city is steady across the board and will give you steady fix-and-flip profits for years to come.
6. Tampa, FL – Total Metric Score: 66.5
Tampa, Florida shows the best real estate market potential rank of all cities in this list. With a rank of 8 out of 150, Tampa’s real estate market currently booms with profit and potential earnings grow higher and higher. Tampa also sports fantastic rehabbing and remodeling costs, ranking 19 out of 150. The quality of life rank is also not too shabby, at 66 out of 150 cities.
5. Oklahoma City, OK – Total Metric Score: 66.6
The capital city of Oklahoma enjoys some discounted rehabbing and remodeling costs. Oklahoma City, Oklahoma ranks 15 out of 150 in rehabbing costs, as well as 30 out of 150 in market potential. Oklahoma City also sports a steady place in quality of life, ranking 37 out of 150 cities.
4. Peoria, AZ – Total Metric Score: 66.6
Peoria, Arizona is a terrific city to start looking for lucrative fix-and-flips. This city boasts the second-best ranking in rehabbing and remodeling costs, at 6 out of 150 cities. Peoria also scores the highest in quality of life, ranking 6 out of 150. The market potential rank is not as good, standing at 97 out of 150. However, the other phenomenal scores balance the slightly lagging market potential and claim the #4 slot in our lineup.
3. Fort Wayne, IN – Total Metric Score: 67.3
Fort Wayne, Indiana is one of the BEST places you can look for profitable properties. Indiana on the whole shows extremely lucrative fix-and-flip profits; so much so that Do Hard Money directly funds deals in this state. Fort Wayne offers economical rehabbing and remodeling costs, ranking at 16 out of 150 cities. This Indiana city also boasts an excellent quality of life, ranking at 46 out of 150. The market potential is stabilizing at a rank of 106 out of 150, meaning NOW is the time to take advantage of lucrative Indiana deals.
2. Sioux Falls, SD – Total Metric Score: 69.5
Sioux Falls, South Dakota shows wonderful ranks in both renovation costs and quality of life. You definitely want to snatch up these incredible deals while they last! Sioux Falls shows a rehabbing and remodeling costs ranking of 7 out of 150 citiess and a quality of life rank of 29. Like Fort Wayne, the market potential in Sioux Falls has slightly plateaued, indicating an excellent time to take advantage of profitable deals in this city.
1. El Paso, TX – Total Metric Score: 69.6
El Paso, Texas tops our list and Do Hard Money is very proud to offer direct funding for all Texas loans. This city sports extremely affordable rehabbing and remodeling costs, which greatly increase your profit margins. El Paso ranks a 9 out of 150 in rehab costs, plus an excellent quality of life rank of 48 out 150 cities. El Paso also offers a solid market potential ranking of 95 out of 150.
Now that you know where to go, it’s time to find those lucrative properties! Do Hard Money is here to fund your deal, offering 100% financing on those which qualify.
Ready to find out more? Click on this link to schedule a time to chat with one of our investment associates. They can help you take the next steps toward REI success and open the door to financial freedom!
If you prefer to speak with an REI expert right away, give us a call at 801-948-9774. You can also get pre-qualified for your loan today! Just fill out the fields in the yellow box on the upper right of this page. Then, click ‘GET PRE-QUALIFIED’ and you’re ready to go! An investment associate will contact you shortly regarding your application.
It’s time for you to take advantage of these incredible deals in these top 10 cities! Schedule your appointment today!