Home flippers are still booking nice profits, if they can find the right house
House flipping, a quick-buck pastime of real-estate investors new and seasoned as prices soared during the pandemic, has reverted to an expert's game.
But for the flips that are happening, they're plenty profitable, Beacham told Insider. Of the projects funded by Toorak last quarter, the company said investors generated profits of 32% and $149,000, on average, up from 27% and $115,000 a year earlier. Toorak's data on profits bucks the trend shown by real-estate data provider Attom, which has shown profits on properties bought and sold within a year are slipping. Beacham said Toorak's data more precisely measures the projected outcome of rehab projects because, as a creditor, it has proprietary knowledge of what is a true rehab transaction and the costs of those projects.because they see their own costs rising, Beacham said.
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