Home makeovers on the rise
I’m not sure if this is an official economic indicator, but when people start spending on home improvement projects, that’s a good sign. The average homeowner spent $6,649 on home fix-ups last year and 8 out of 10 plan to spend more this year than they did last year. Part of this is due to high home values making it difficult for people to move to new houses. The other part is having all that extra equity lying around. While you could use your equity to fix up your own home, why not instead fix up another house and sell it for profit, or keep it as a rental? Just an idea!
Best fix and flip cities
While we firmly believe that you can flip in any market, for those with the ability to flip out of state, it’s looking pretty good in cities that don’t typically get a lot of attention. Pittsburgh, Buffalo and (our favorite) Cleveland have been proving to be some of the best fix and flip markets in the country. The low cost of living is attracting tech companies, which is total game changer for these cities. For a fix and flip investor, the numbers work the same whether you flip in Denver or elsewhere. (Let us know if you need help getting started.)
QUOTE OF THE WEEK
“If you have that flame of a dream down inside you somewhere, do something about it.“
~Richard M. DeVos
See you soon,