Memphis remains a hub city when it comes to flipping houses. The year 2016 continues to be a great year for flipping houses as 2015 was when nationwide the average profit was approximately $55,000 per sale. That’s the highest average gross earnings since 2005. Flipping the right houses is still a very profitable way to make money in real estate. Especially in Memphis.
Memphis House Flipping
Memphis remains very attractive to both homebuyers and investment flippers, making it a one of the smartest real estate markets for investors. Memphis is ranked number one in terms of flipping volume and nationally number nine for rate of return. Although rate of return on investment could be higher, the volume means that more houses can be flipped each year that translates into huge profits.
Amazingly, the Blues City had 20 percent more homes flipped in 2015 than in 2005, with home flips accounting for 10.6 percent of all home sales. Return on investment averaged 54.8 percent. Any flipper would consider that a goo return on investment.
Typically referred to as house flipping, the practice is generally defined as buying and selling a home in the same calendar year. According to a recent report by real estate information company RealtyTrac, home flipping increased 75 percent in U.S. markets. More small investors are getting into the business than ever before.
Getting into Memphis House Flipping
MemFlips (http://www.meetup.com/MemFlips-Memphis-Real-Estate-Investors/) is a local networking and deal-making group for anyone who flips houses in the Memphis metro area. This includes wholesalers and rehabbers, whether you wholesale for quick cash or you’re a fix-and-flipper, the group is open to everyone from beginners to those with years of experience. The purpose is to share information and ideas with a “giver’s gain” approach to networking — being open and honest about what’s working in the businesses. This is heavy on the networking, not like having a big speaker come in and lecture. Networking, doing deals together, and sharing ideas is the core of what the meeting is trying to accomplish.
Imagine a gathering of positive, like-minded flippers… both wholesalers, and fix-and-flip rehabbers of all experience levels… all having lunch together, enjoying the chance to share and care. The room is buzzing with people exchanging not just business cards… but practical ideas, real-world knowledge, useful tools, key resources… sharing recent deal stories and valuable lessons learned… and yes, doing real deals together.
That, my friend, is what the Meetup gathering is all about.
Attendance is $0 dollars: All you have to do is buy your own lunch and show up ready and willing to engage others. Please know that this gathering is not for “takers” or “vampires” looking to suck the time or life out of other investors. It’s all about sharing ideas, resources, tools, and knowledge with a true “Givers’ Gain” attitude and a “pay it forward” mindset.
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Author bio: Brian Kline has been investing in real estate for more than 35 years and writing about real estate investing for 10 years. He also draws upon 30 plus years of business experience including 12 years as a manager at Boeing Aircraft Company. Brian currently lives at Lake Cushman, Washington. A vacation destination, a few short miles from a national forest. With the Pacific Ocean a couple of miles in the opposite direction.