The 14 Best Places to Flip a House


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RealtyTrac has produced a list of the best counties for investing in residential real estate.

This post comes from Christine DiGangi at partner site Credit.com.

For people who like a serious project, house flipping can be quite the moneymaker. In some parts of the country, flippers see hefty profits from their investments, selling their properties for well over 30 percent more than they paid for them, according to new data from real estate company RealtyTrac.

The best counties for flipping are concentrated along the East Coast, but it’s a popular practice across the country. If you’re interested in snagging an inexpensive home and selling it for significantly more than you paid for it, RealtyTrac came up with a list of counties with the best opportunities.

Where to cash in

In order to be considered a good place to flip, the county had to have at least 100 single-family homes flipped between April 2013 and March 2014, the flips had to have at least a 30 percent return on investment, unemployment had to be below the national average of 6.7 percent in March, and the county had to have an increase in foreclosure activity in the first quarter of 2014, compared with the same time a year ago. A higher foreclosure inventory increases investors’ opportunities to flip.

14. Middlesex County, N.J.

  • Average purchase price of flips — $200,015.
  • Average sale price of flips — $264,742.
  • Average ROI — 32.36 percent.

13. Nassau County, N.Y.

  • Average purchase price of flips — $316,060.
  • Average sale price of flips — $422,858.
  • Average ROI — 33.79 percent.

12. Monroe County, Fla.

  • Average purchase price of flips — $311,701.
  • Average sale price of flips — $429,564.
  • Average ROI — 37.81 percent.

11. Berks County, Pa.

  • Average purchase price of flips — $117,846.
  • Average sale price of flips — $162,774.
  • Average ROI — 38.12 percent.

10. Montgomery County, Md.

  • Average purchase price of flips — $347,682.
  • Average sale price of flips — $482,969.
  • Average ROI — 38.91 percent.

9. Bergen County, N.J.

  • Average purchase price of flips — $320,010.
  • Average sale price of flips — $450,492.
  • Average ROI — 40.77 percent.

8. Wright County, Minn.

  • Average purchase price of flips — $105,058.
  • Average sale price of flips — $152,563.
  • Average ROI — 45.22 percent.

7. Anne Arundel County, Md.

  • Average purchase price of flips — $197,355.
  • Average sale price of flips — $291,243.
  • Average ROI — 47.57 percent.

6. St. Mary’s County, Md.

  • Average purchase price of flips — $180,411.
  • Average sale price of flips — $268,254.
  • Average ROI — 48.69 percent.

5. New Castle County, Del.

  • Average purchase price of flips — $127,795.
  • Average sale price of flips — $195,246.
  • Average ROI — 52.78 percent.

4. Campbell County, Ky.

  • Average purchase price of flips — $75,253.
  • Average sale price of flips — $127,848.
  • Average ROI — 69.89 percent.

3. Baltimore County, Md.

  • Average purchase price of flips — $131,186.
  • Average sale price of flips — $224,089.
  • Average ROI — 70.82 percent.

2. York County, Pa.

  • Average purchase price of flips — $88,063.
  • Average sale price of flips — $151,871.
  • Average ROI — 72.46 percent.

1. Prince George’s County, Md.

  • Average purchase price of flips — $125,011.
  • Average sale price of flips — $229,275.
  • Average ROI — 83.4 percent.

There are plenty of counties with a higher average ROI on flips than some of the ones listed above, but those locations generally had a sharp decline in foreclosure inventory from 2013 to 2014, so there’s less of an opportunity to make a profitable investment.

Whether you’re flipping or house shopping in a traditional sense, you need to have a good understanding of buying a home and how to get a good price on it (here are some negotiation tips).

You also need to know your credit history, because mortgage lenders look at it carefully when considering you for a home loan. It’s much easier to improve your credit (and become a more attractive borrower) once you understand what you’re dealing with, so take a look at your credit reports and credit scores. You can look at your credit data for free through Credit.com.

More on Credit.com:

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