{"id":110,"date":"2015-08-22T10:30:41","date_gmt":"2015-08-22T10:30:41","guid":{"rendered":"http:\/\/www.craigarush.com\/blog\/?p=110"},"modified":"2015-10-01T14:39:14","modified_gmt":"2015-10-01T14:39:14","slug":"is-flipping-houses-profitable-in-toledo-ohio","status":"publish","type":"post","link":"http:\/\/www.craigarush.com\/blog\/is-flipping-houses-profitable-in-toledo-ohio\/","title":{"rendered":"Is Flipping Houses Profitable in Toledo, Ohio?"},"content":{"rendered":"

Flipping houses has become a popular enough activity to warrant several TV shows about it. If you\u2019re engaged in this activity, you should consider the market in Toledo.<\/p>\n

Is Flipping Houses Profitable in Toledo?<\/strong><\/h2>\n

The number of flipped homes in the Toledo area was 64 for the period April \u2013 June 2015. The average profit on those homes was $29,549. The average return on investment was 35.5 percent. Toledo is ranked fifth in Ohio for return on investment in house flipping.<\/p>\n

What Makes a Flipper Successful? <\/strong><\/h2>\n

Flipping houses is not as easy as some of the TV shows portray. You have to thoroughly educate yourself on the process so you know what you\u2019re doing. Following are some characteristics successful flippers share:<\/p>\n

 <\/p>\n

They assemble a team of experts<\/u><\/h3>\n

Most people do not possess all the knowledge and expertise required to be successful. An appropriate team might include: a real estate attorney, a certified public accountant, lenders, general contractors, and a capable real estate agent (preferably one with experience working with house flippers).<\/p>\n

 <\/p>\n

They see a home\u2019s potential<\/u><\/h3>\n

Successful flippers know how to spot a good deal. Because they\u2019ve educated themselves on the local real estate market, financing costs, renovation costs, etc., they\u2019re able to see the value in a home conventional buyers (and maybe other flippers) would overlook.<\/p>\n

 <\/p>\n

They know how to \u201cdo the math\u201d<\/u><\/h3>\n

The formula for a successful flip is much more involved than: Your Selling Price – (Cost of House + Cost of Improvements) = Profit. There are a lot of other things to consider, for example, the cost of borrowed money; the cost of selling the house; the cost of insurance, utilities, and property taxes while you have possession of the house; attorney fees; unexpected expenses; taxes and commissions\u2026 well, you get the picture.<\/p>\n

 <\/p>\n

They leave their personal tastes out of the design<\/u><\/h3>\n

The design elements need to appeal to a broad group of buyers. Successful flippers know who the target buyers are and design with their tastes in mind.<\/p>\n

 <\/p>\n

Making Your Flip More Profitable<\/strong><\/h2>\n

There are a number of important considerations that will make your flip more profitable. For example, you want to select a home that is below its value in the local market. The worst home in a great neighborhood will earn you more than the best home in a bad neighborhood. Speaking of neighborhoods, find a home in a good school district.<\/p>\n

\"Human<\/a><\/p>\n

Make the home improvements that will have the most impact on increasing the home\u2019s value. Focus on the kitchen first, and then the bathroom(s). Avoid making improvements that won\u2019t increase the home\u2019s value.<\/p>\n

 <\/p>\n

(We will have more on how to earn more profit from your flip in a future blog.)<\/p>\n

Request Our Free List<\/strong><\/h2>\n

Considering a house flip in Toledo? Get a Free List: Best Houses to Flip in Greater Toledo (Currently For Sale)<\/strong> from Craig Rush and the Rush Team! Simply request this via phone or email:<\/p>\n

 <\/p>\n

Phone: (419) 262-0321<\/strong><\/p>\n

Email: craig@therushteam.com<\/a><\/p>\n

 <\/p>\n

For more information about real estate in the Greater Toledo area, including Sylvania and Perrysburg, please visit our website at www.craigarush.com<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Flipping houses has become a popular enough activity to warrant several TV shows about it. If you\u2019re engaged in this activity, you should consider the market in Toledo. Is Flipping Houses Profitable in Toledo? The number of flipped homes in the Toledo area was 64 for the period April \u2013 June 2015. The average profit… Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":153,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"yes","footnotes":""},"categories":[10,6],"tags":[17,19,15,20,18],"class_list":["post-110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sylvania-real-estate","category-toledo-real-estate","tag-flipping-houses","tag-house-flip","tag-ohio","tag-profits","tag-toledo"],"yoast_head":"\nIs Flipping Houses Profitable in Toledo, Ohio? | Craig A. Rush<\/title>\n<meta name=\"description\" content=\"Flipping houses? 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