Home > Mortgages > The 14 Best Places to Flip a House

Comments 0 Comments

For people who like a serious project, house flipping can be quite the money maker. In some parts of the country, flippers see hefty profits from their investments, selling their properties for well over 30% more than they paid for it, 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% return on investment, unemployment had to be below the national average of 6.7% in March and have an increase in foreclosure activity in the first quarter of 2014, compared to 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%

13. Nassau County, N.Y.
Average purchase price of flips: $316,060
Average sale price of flips: $422,858
Average ROI: 33.79%

12. Monroe County, Fla.
Average purchase price of flips: $311,701
Average sale price of flips: $429,564
Average ROI: 37.81%

11. Berks County, Pa.
Average purchase price of flips: $117,846
Average sale price of flips: $162,774
Average ROI: 38.12%

10. Montgomery County, Md.
Average purchase price of flips: $347,682
Average sale price of flips: $482,969
Average ROI: 38.91%

9. Bergen County, N.J.
Average purchase price of flips: $320,010
Average sale price of flips: $450,492
Average ROI: 40.77%

8. Wright County, Minn.
Average purchase price of flips: $105,058
Average sale price of flips: $152,563
Average ROI: 45.22%

7. Anne Arundel County, Md.
Average purchase price of flips: $197,355
Average sale price of flips: $291,243
Average ROI: 47.57%

6. Saint Marys County, Md.
Average purchase price of flips: $180,411
Average sale price of flips: $268,254
Average ROI: 48.69%

5. New Castle County, Del.
Average purchase price of flips: $127,795
Average sale price of flips: $195,246
Average ROI: 52.78%

4. Campbell County, Ky.
Average purchase price of flips: $75,253
Average sale price of flips: $127,848
Average ROI: 69.89%

3. Baltimore County, Md.
Average purchase price of flips: $131,186
Average sale price of flips: $224,089
Average ROI: 70.82%

2. York County, Pa.
Average purchase price of flips: $88,063
Average sale price of flips: $151,871
Average ROI: 72.46%

1. Prince George’s County, Md.
Average purchase price of flips: $125,011
Average sale price of flips: $229,275
Average ROI: 83.4%

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 Mortgages and Homebuying:

Image: iStock

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Our Owners

Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team