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|December 11, 2019|
Flipping homes not for the faint of heart
INLAND EMPIRE – (INT) – The signs are everywhere from placards on utility poles to HGTV. You’ve probably thought about the thrill of gutting a house and turning a five- or six-figure profit. But, don’t be blinded by dollar signs when thinking of ‘flipping’ a house.
Any experienced home flipper would caution you that transforming a fixer-upper into a profitable property is a difficult process.
Many real estate experts subscribe to the fact that location can be everything.
WalletHub compared 172 U.S. cities across 29 key indicators of market potential, cost and quality of life including five in the Inland Empire. The data set ranged from median purchase price to average full home remodeling costs to housing-market health index.
Rancho Cucamonga was highest on the 172 city list at #88. Its quality of life was 9th highest in the nation. San Bernardino came in the lowest at #160. Slightly better were Moreno Valley (#147), Riverside (#123) and Ontario (#122).
WalletHub’s caution flags: Don’t get your hands dirty until you’ve learned a thing or two about real estate, construction and how much damage your project could do to your wallet.
Story Date: August 23, 2019