Many real estate markets around the United States are showing a resurgence in investment potential for fix and flip investors seeking new opportunities to diversify their portfolios. These markets are primed for growth thanks to several key market trends that savvy investors should take note of when searching for their next fix and flip project.
Some of the most important market dynamics utilized by investors to gauge a location for successful property flipping, including low unemployment rates, economic health, availability of skilled labor, and accessibility of construction materials. Put yourself in the potential homebuyer’s shoes. What aspects draw them to living in the area? What features and amenities are they willing to pay more for?
Based on recent performance, buyer power and projected outcomes, here are some of the best areas for aspiring fix and flip investors should consider.
Raleigh, North Carolina
The Raleigh, North Carolina real estate market has undergone tremendous growth in recent years. The developing capital city is an integral asset of the state’s Research Triangle, which is revered as the community responsible for producing notable advancements in both the tech and medical industries—which has contributed, at least in part, to Raleigh being named this year as the second hottest real estate market in the entire country. Raleigh has the second highest population in North Carolina, with 1.4 million residents. This number is projected to rise significantly over the next decade as more and more millennials and Gen Z homebuyers mature. As an added plus from an investor’s perspective, the median home value in Raleigh is still relatively affordable considering real estate demand and the sizeable population. Data analysis indicates that properties in the area typically are on the market for only fifty days on average, a good sign that investors can move properties quickly after renovations are complete.
Often referred to as “The Happiest Place on Earth” thanks to its numerous tourist attractions, Orlando also boasts considerable investment opportunities that are sure to keep both real estate investors and homebuyers smiling too. The Orlando metropolitan area has a huge population of more than 2.5 million. That, coupled with a remarkably low unemployment rate of below 3% and tons of affordable properties available, make this a sought-after investment location for fix and flip investors. Orlando has a lot to offer, from its tropical climate to pristine beaches and shopping, real estate buyers are drawn year-round to the area. Investors can expect a median ROI of approximately 80% based on recent data, and future growth is expected in the market as the military presence in the city increases that will mean increased demand for flexible housing options.
This city is exhibiting promising signs for fix and flip investors due to an affordable market for single-family properties, a booming local economy and low unemployment rates. The median home value in El Paso is a fraction of the cost of other major metropolitan areas at a mere $136,499—and property is appreciating annually by almost 5%! The resultant buyer power of the El Paso population and the low renovation costs makes this a good option for a fix and flip project. Similar to Raleigh, El Paso is consistently ranked as one of the best metro locations to live in, featuring low crime rates, abundant employment opportunities and excellent cost of living.
The national market is brimming with potential when it comes to the Fix & Flip sector. Don’t miss out on this amazing opportunity. Contact Gauntlet Funding today to learn more about our flexible financing options that will make your investment dreams a reality!
Fix and Flip Market Overview – Hot Places to Consider in 2023 for a Fix and Flip Loan| Gauntlet Funding – Melville, NY