Recently the city of Tampa was listed as number 4 on the Top 10 best places to flip homes. With the median home sale price of $230,000.00 investors are flocking to the city. For years people have come to love the small waterfront city. Add that to the fact that there is no state income tax, great weather and you have a recipe for success.
Investors have really started buying up all the homes with many coming from other parts of the state such as West Palm and Miami in order to get in on the action. With the very reasonable prices of homes and cost of living it make sense that investors would want to come here. Compared to other cities like Miami, Chicago, New York, San Francisco, and others the Bay area is a bargain.
Home flips are making up roughly about 17% of home sales in the metro area. The greater Tampa area as the third highest percentage of home flips compared to all the cities on the Top 10 list.
Many of these fixer uppers are foreclosured properties or homes that are just not being well taken care of. There are so many properties in the area that are between the $90k-$200k price range.