Where's the ROI In WI Flips?
According to a study conducted by California-based property database ATTOM Data Solutions, the Milwaukee-Waukesha-West Allis metro endured a flood of houses on the market that was formerly flipped in 2018 by real estate investors.
The Milwaukee metro positioned in the top 10 in the U.S. with each year increase of 8.3% in home flipping rates among metro regions with no less than 1 million individuals. Percentage of flipped properties is the home flipping rate which considered for total home sales for the metro in a presented year.
In the Milwaukee metro, 4.4% of homes sold in 2018 were properties that were flipped by investors, which is as well an 18.8% more from the year 2013.
In the Milwaukee metro, entirety 697 homes were flipped previous year. In the area in 2018, the median buy cost of the property by investors was $87,500, while the median flipped cost (selling price) was $149,900. The median gross revenue for investors in the metro was $62,400 that was simply beneath the national average of $65,000.
In Milwaukee, the housing stock being flipped is among the oldest in the U.S. As said by a report, the median year is 1952 when those flipped homes were initially built, twenty-five years older than the U.S. median of 1979.