Two of the top markets for home flipping happen to be in our area of service for hard money loaning. Both Florida and Tennessee are among the top markets for house flippers. That means that the average time to flip, the average profit, and the average return on your investment will be best in these markets.
Florida’s House Flipping Market
Florida has year-round warm weather and residents don’t pay income tax on their earnings at the state level. One of the best cities in Florida for house flipping is in north Florida. House flippers in Jacksonville do very well, according to reports. This is thanks especially to the military base presence in Jacksonville. Areas around military bases often are great markets for home flipping. The average listing in Florida is $406,803. The average time to flip a home is 151 days. The average profit is $59,917. Meanwhile, the average ROI is 83 percent. That’s impressive, but Tennessee is even better!
Tennessee’s House Flipping Market
Tennessee is to some people’s surprise, seeing an influx of artists migrating to it. House flippers in Tennessee are seeing an average ROI of 132.7 percent! Meanwhile, it costs less to get into the market. The average house listing is $268,692 and the average time to flip is just 147 days. House flippers in Tennessee average a profit of $57,600!
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.