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Study Says Pittsburgh Flippers Score Highest ROI in Nation

Posted By Cliff Tuttle | August 1, 2018

No. 1,536

DS News posted about a study of home flipping in the United States performed by Wallet Hub. While Pittsburgh is not the most active city in this category, it is reported to yield investors the highest return on their investment.

Image: kurtrealestate.com

The Wallet Hub report doesn’t analyze the numbers, but non-scientific observation indicates that the rehabbing activity is concentrated in rapidly emerging neighborhoods such as South Side and Lawrenceville or higher-end established communities such as Shadyside, Squirrel Hill and the suburbs.  If you live in such a place, you may be receiving post cards from people offering to buy your house for cash.

Flippers are often maligned by the public as predatory.  Some undoubtedly are, but they also create numerous benefits to the community.  They are extending the life of existing housing.  Many of the properties they rehab would eventually be torn down.  They put structurally sound older houses back on the market with new kitchens and bathrooms of the kind that today’s buyers want.  They add amenities like air conditioning that older Pittsburgh houses typically don’t have.

Instead of complaining, we should be happy that somebody is revitalizing older communities at their own risk and without subsidies.

Here’s the DS News post with a link to the Wallet Hub report.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 40 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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