The sticker price of fixer-uppers across the nation has skyrocketed, and although the first thought is to blame professional flippers, quite the opposite is true.
ATTOM Data Solutions recently posted a new report that flipping activity has fallen to its lowest level in 20 years. In the beginning of March 2020, many investors were fearful about their bottom lines and the potential threat of any potential ROI.
This opened up a seat at the table for millennials who were already on the hunt for the perfect place to call home. No one could have ever predicted that shift would cause a drop of about 5% of flips done in the first quarter. WIth the rise of DIYers on TikTok and the need for more space to accommodate WFH life/an escape from the stomping neighbors upstairs, millennial homebuyers shift from finding the PERFECT home to looking for the home that had the most potential.
Many investors are having to swing their investments into different markets or shifting their strategies altogether. Working with investors I have learned that all investment portfolios are different, however the biggest goal is always to make money. Whether you are a rookie/veteran investor or a first time buyer and need help with your strategy, reach out to me so that I can be of assistance in creating a winning game plan.