BY OCTAVIO NUIRY, MANAGING EDITOR FINANCING FIX-N-FLIPS
Some believe house flipping is a fad.
Americans — it seems — can’t get enough of flipping shows.
and condos were flipped Q2 2016, the most flips in six years, reports ATTOM.
But it’s anything but that.
And the growing number of flippers bears this out.
And more of the flippers are using financing to fund their flips — 32 percent of homes flipped in Q2 2016 were financed, the highest level since Q3 2008. Nearly 40,000 investors — both individuals and institutions — flipped homes in Q2 2016 — a nine year high.
Not only is flipping homes for a profit a growing industry, but it is exceedingly popular on cable television, where more than a half dozen prime-time flipping shows feature quick-turn real estate investors, including “ Flipping Boston ,” “ Flipping Vegas ,” “ Flipping Out ,” “ Flip or Flop ,” “ Fixer Upper ” and “ Zombie House Flipping .”
In 2015, investors flipped nearly 180,000 single-family homes and condos nationwide, accounting for 5.5 percent of all sales, according to ATTOM Data Solutions , which defines a flip as a house resold within six months of purchase. More than 51,000 single family homes
ATTOM Data Solutions • P1
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