Last year was the strongest year yet for home flipping, with gains on flips in 2015 hitting $102,400 per flip on average, up from $98,500 in 2014 and significantly higher than the peak of $90,900 during the last housing boom, according to a report from real estate brokerage Redfin.
Unlike flipping, what if you purchased the same home with the intentions of holding onto it as a long term rental? People always need a place to live and why not have a steady flow of income, a nice tax write off and equity that someone else is creating (tenants paying down the mortgage).
To make this as passive as possible you should have a property manager take care of all your rentals. If you're already a landlord please ask for a FREE Rental Analysis.
This list of the top 10 neighborhoods for home flippers has a lot do with that lofty rise.