Top 10 Counties for Flipping Homes

Erik Hitzelberger — Wed, 18 Jun 2014 16:15:14 +0000

The news is all abuzz with the new report out from RealtyTrac showing the top counties for flipping. If you follow our Market Watch series then you know we have been reporting the top markets for investing in real estate according to Q1 numbers. Keep in mind that “markets” encompass several counties. It seems now however it is the East Coast “counties” pulling the flipping market from the more common Sand State markets.

In a new twist it is Maryland counties that are surprisingly among those offering the

highest returns. RealtyTrac’s new report analyzed 1,050 counties nationwide to find areas with some of the largest returns on investment, availability of inventory to flip, and low unemployment rates.Although flipping was down in the first quarter of 2014 compared to a year ago, flippers over all were making a bigger average profit per flip, according to RealtyTrac’s analysis. The average gross profit per flip nationwide was $55,574 in the first quarter. That is a 30 percent return on the initial purchase price. Not bad.

Here’s a look at the best counties currently for flipping and their stats, according to RealtyTrac:

1. Prince George County, Md.

> Return on investment: 83.4%
> Increase in foreclosures: 136.8%
> Unemployment rate: 6.0%
> Number of flips: 347

2. York County, Pa.

> Return on investment: 72.5%
> Increase in foreclosures: 10.2%
> Unemployment rate: 5.9%
> Number of flips: 179

3. Baltimore County, Md.

> Return on investment: 70.8%
> Increase in foreclosures: 32.3%
> Unemployment rate: 6.1%
> Number of flips: 546

4. Campbell County, Ky.

> Return on investment: 69.9%
> Increase in foreclosures: 238.5%
> Unemployment rate: 6.3%
> Number of flips: 163

5. New Castle County, Del.

Return on investment: 52.8%
> Increase in foreclosures: 28.6%
> Unemployment rate: 5.9%
> Number of flips: 117

6. St. Mary’s County, Md.

Return on investment: 48.7%
> Increase in foreclosures: 40.0%
> Unemployment rate: 5.2%
> Number of flips: 321

7. Anne Arundel County, Md.

> Return on investment: 47.6%
> Increase in foreclosures: 16.2%
> Unemployment rate: 5.3%
> Number of flips: 146

8. Wright County, Minn.

Return on investment: 45.2%
> Increase in foreclosures: 14.2%
> Unemployment rate: 6.4%
> Number of flips: 295

9. Bergen County, N.J.

Return on investment: 40.8%
> Increase in foreclosures: 43.2%
> Unemployment rate: 6.3%
> Number of flips: 114

10. Montgomery County, Md.

Return on investment: 38.9%
> Increase in foreclosures: 8.6%
> Unemployment rate: 4.5%
> Number of flips: 179

Source: RealtyTrac

To learn more about Part-Time REI visit us at http ://part-timerei.com/

Or connect with us

Part Time REI » top counties