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House in Mesa. / File photo 

 

Phoenix among metros where flipping up the most

By Ellen Paris | Forbes

Here’s the latest news on flipping homes for quick profits. The heady days of the home flippers in major cities are winding down as market fundamentals flip themselves. During real estate’s halcyon days flippers seem just to appear. These include long time and experienced developers, investors, real estate brokers, and amateur “developers.” Strong seller markets where prices are rising and inventory declining often create the perfect storm for profitable flipping. Traditionally flippers purchase a property then tear it down and build a new often larger home or do a gut renovation. The property goes quickly back on the market selling for a hefty profit.

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