The real estate market may undergo peaks and troughs over the years, but you can guarantee there will always be good opportunities for keen-eyed investors.
Many are drawn to the potential for high rental returns and relatively affordable property prices in a range of cities and towns across America.
However, it’s crucial to approach this market with a discerning eye, especially if you’re in the business of flipping properties – that is, buying, remodeling and selling as quickly as possible.
Recent data from ATTOM’s Q1 2024 Home Sales Report reveals some interesting trends.
While profit margins for home sellers have declined in most areas, some regions still offer attractive opportunities for both investors seeking rental income and those who flip properties.
For example, property values are rising in the Midwest, especially in Peoria, IL, and Fort Wayne, IN.
These areas are also known for their affordability, making them attractive entry points for investing in the US market.
Potential also exists in the Sun Belt, according to the ATTOM report.
It cites the Florida centers of Ocala, Punta Gorda, and Deltona–Dayton Beach-Ormond Beach as starting to enjoy an upward price trend.
While these areas are experiencing rapid growth and price appreciation, they may still offer opportunities for investors willing to explore emerging neighborhoods or properties requiring minor renovations.
Centers receiving attention in the Northeast include Scranton, PA, and Atlantic City–Hammonton, NJ. These areas might appeal to investors looking for properties with character and potential for value appreciation.
As an experienced real estate agent in your neighborhood, I have networks within the industry that can deliver a range of suitable properties to either remodel and flip or rent.
If I can help you with your real estate needs, please do not hesitate to contact me.
In the meantime, I have some tips for those beginning their journey in real estate investment. They’re also valuable reminders for those who are more experienced. I hope you find them helpful.
- Your vision – Consider your investment goals. Are you looking for a quick flip or a long-term rental property? Your strategy will dictate the type of property you choose and the renovations you undertake.
- Partner with a knowledgeable agent – An agent’s expertise in investment properties can be invaluable. We will help you identify promising opportunities, negotiate deals, and navigate market complexities.
- Due Diligence – Conduct thorough research on the property and the surrounding neighborhood. Research the local market trends, rental rates, and property values.
- Professional inspection – Never skip a professional home inspection. This is your chance to uncover hidden problems, such as faulty wiring, plumbing issues, or structural damage.
- Permits and approvals – Verify that all previous renovations were done with the proper permits and approvals to ensure the work meets safety standards and building codes.
