JIN takes a turn in 2017 towards the Flipping.
2016 has been a beautiful year for the US real estate market, and the outlook continues to grow, especially for real estate investors specializing in flipping.
Flipping is defined as the purchase and sale of a house in the short term (same calendar year). The trend is on the rise and the walk offers a chance to invest and even modestly. According to RealtyTrac, investors averaged 58.3% return on investment.
In fact, there was more Flip in 2016 than before the financial crisis of 2008. This clearly shows that the general situation has recovered and is continuing to improve.
With that said, JIN’s choice to invest predominantly in Detroit is no coincidence. The legendary “Motor City” is one of the cities with the best potential for profitability for 2017.
Detroit has become a safe haven for Flipping. Prices at home in Detroit remain 20% or more below peak values, while prices continue to rise by 10% per year.
“It’s good for the region; This is good for investors, “said Howard Mitchell, a Detroit broker. “The market is improving. Values are beginning to rise in some quarters. This is good for investors when you can buy the property and sell for a profit. ”
The outlook for Detroit continues to sound very tasty for investors. With the unemployment rate falling to less than seven percent, the University of Michigan predicts for Detroit nearly 100,000 new jobs. All major signs for the housing market.