Search All Flip Houses For Sale In Nashville Tennessee
We’ve seen all the house flipping TV shows, and Nashville was just named one of the best places in the U.S. to flip houses.
According to researchers at personal-finance website WalletHub, house flippers earned an average gross profit of $68,143 in 2017. In Nashville, it’s $72,000 right now, so just above the national average.
House flippers are buying houses left and right in Nashville and turning them around for a big profit. In fact, Nashville is No. 19 when it comes to the best places to flip a house in 2018.
“Nashville is right up in the top 20 for a lot of different reasons. We looked at the market potential in general, which did pretty well, the quality of life, which is a no-brainer, doing very well, but it also did the best for its renovation and remodeling costs,” said Jill Gonzalez with WalletHub.
That’s where researchers say flippers are saving the most money, which leads to them making more money.
Gonzalez told News 2, “There are a number of metrics where it did really well in everything from kitchen remodeling costs, to bathroom remodeling, to even how much you’ll have to pay people who are working with you, plumbers, electricians, carpenters. The immediate construction worker salary is pretty low in Nashville and that’s good when you’re flipping.”
They do warn flipping isn’t quite as easy as they make it look on TV.
“A lot of people have seen these shows on TV and think, ‘You know what? Anyone can do this.’ But I think people fail to really think about not only purchasing, improving, reselling, considering taxes, permits, loan costs, you know especially if you’re not selling as soon as you’re done with the remodel,” said Gonzalez.
Memphis, Tennessee, has the highest share of home flips. Research shows the best place to flip houses is Sioux Falls, South Dakota, and the worst is Bridgeport, Connecticut.
The experts say while there’s potential to make a large profit flipping houses in Nashville, you shouldn’t get your hands dirty until you’ve learned a thing or two about real estate, construction and how much damage your project could do to your wallet.
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