In 2015, the Tampa metro area experienced exceptional growth in flipping houses, with 9.2 percent of all single-family home sales being flips, compared to the national average of 5.5 percent, per a RealtyTrac Report.
When compared to other metro areas with at least 250 flips in 2015, Tampa tied for the 2nd highest share of flipping as a percentage of all single-family home sales, RealtyTrac explains.
And when it comes to generating the biggest gross profit, the Tampa-Clearwater area ranked 6th in the nation with 57.2 percent, as reported by Tampa Bay Times.
Why is the Tampa Area Thriving?
Demand for homes in Tampa has been on the rise since the 2007 housing crash, pushing home prices up from their lows.
Many real estate investors are supplying the demand for homes in Tampa by purchasing investment homes, rehabbing them, and either flipping them or holding them as rental property.
As a result of this win-win scenario, homebuyers and tenants have the homes they want, and real estate investors glean profits whereby they are able to continue investing and supply the demand for homes.
Tampa, therefore, has gained a reputation of being one of the best metro areas to invest in real estate, and is ranked as one of the best cities for real estate investing in the United States.
Tampa Real Estate
The median home price in Tampa is about 21 percent below the national average, and 14 percent below the Florida average, presenting a great opportunity for experienced real estate investors.
Last year alone, the median home price in Tampa rose 10.3 percent, which is significantly higher than the national average. Though the Tampa real estate market is expected to have more modest price gains in 2016, it is projected to steadily increase and continue generating healthy profits for investors.
For more analysis on the Tampa housing market, see “Real Estate Investing in Tampa, Florida.”
As the metro Tampa Bay housing market continues to grow, the “low hanging fruit” resulting from the 2007 crash, whereby even a novice could purchase a property and flip it for a profit, is gone. Those properties were snatched up quickly, and similar opportunities have become rarer as foreclosures have significantly slowed.
Expert real estate investors, though, continue to generate some of the highest profits in the U.S. with Tampa investment properties, as the demand for homes continues to rise and inventory has normalized.
As a result, many real estate investors rely on an expert wholesaler to supply them with discounted investment properties in the Tampa Bay market.
Graystone Investment Group
Graystone Investment Group is an experienced Investment Group wholesaling properties in metro Tampa Bay.
Unlike other wholesaling groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.