Flipping houses stays red hot and Tampa Bay remains one of its favorite markets

Last April, he and a partner paid $275,000 for a house in a coveted South Tampa neighborhood. After renovations, they sold it in November for $515,000 — a gross profit of $240,000.That wasn’t their only impressive flip. A Tarpon Springs house Paloscio snagged for $170,000 last year sold six months later for $325,000.But Paloscio knows that good candidates for flipping are increasingly hard to find. That’s one reason he’s started to focus more on “wholesaling” — buying and selling as-is properties that other people can flip.”I’ve been (flipping) about three years, and it’s getting more competitive,” he said. “More people are entering the market and driving prices up.”

Source: Flipping houses stays red hot and Tampa Bay remains one of its favorite markets