Lacy O'Leary
What are the best and worst states for flipping a house? That could be a loaded question depending on what criteria you’re using. With that in mind, the folks over at GOBankingRates, using data from Zillow and ATTOM, evaluated all 50 states by looking at a combination of metrics including medium listing price, average number of days to flip, and average gross return. They found the best states for flipping houses were mostly in the East and the worst states for flipping were predominantly landlocked states west of the Mississippi.
“Flipping houses often sounds like easy money: Buy an older home, do a little fixing up, make it look pretty and sell it shortly thereafter. However, it’s not that easy — especially if you live in a state where house flipping just isn’t that profitable.”
Their 5 best states for flipping are:
- Tennessee
- Pennsylvania
- New Jersey
- Louisiana
- Colorado
Their 5 worst states for flipping are:
- Mississippi
- Hawaii
- Montana
- Wyoming
- South Dakota
