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24 THE PROFITABILITY OF HOUSE FLIPPING House flipping is on the rise, according to a CoreLogic special report. According to CoreLogic, the house-flipping rate has increased year-over-year for 12 consecutive quarters, and on a seasonally adjusted basis is now at the highest level since CoreLogic started keeping track in 2002, at 10.9% of home sales as of Q 4 2018. CoreLogic's report noted that flipping rates varied from metro to metro. e report found that the highest flipping rates could be found in the Sunbelt: eight of the top 10 metros with the highest flipping rate were found in this area of the country, including Birmingham, Memphis, and Tampa leading the pack with rates of 16.5%, 16.2%, and 15.1%, respectively. e Rust Belt held the lowest flipping rate, including three Connecticut metros: Bridgeport, Hartford, and New Haven. However, the report found two Sun Belt metros with the lowest flipping rates, Texas cities Austin and Houston. "In addition to flipping rates, we also estimate economic returns to flipping," said Ralph McLaughlin, CoreLogic Deputy Chief Economist. According to McLaughlin, returns for flippers have risen significantly, up to a median of around 40% after 2007. Additionally, he notes that flippers are shifting away from price speculation and toward adding value to properties. Returns are particularly high for older housing. CoreLogic found that returns are highest in Detroit, Philadelphia, and Pittsburgh with returns of 95.9%, 92.8%, and 75%, while areas with newer housing stock, such as Colorado, Arkansas, Missouri, Texas, Arizona, and Tennessee, Florida, and Nevada, saw lower returns ranging between 8.4-10.8%. "Does this mean that home flippers are reaping more net profits in these older markets? Not so much," McLaughlin said. "While gross economic returns are highest in places with older flips, they don't capture the amount of money that flippers invested into the flip. On the contrary, flips undertaken on older homes likely require more capital to bring the home up to market standard than newer homes. Such updates might include costly improvements to electrical systems, plumbing, foundations, and roofing. What this does tell us is that flippers are likely to reap substantial discounts when buying properties with such deferred maintenance." ON THE WEB WEBSITES TO GET TO KNOW. Manage your social media across several platforms at once with Buffer. is handy service allows you to connect all your accounts, determine posting schedules, check analytics, and set access levels for your entire team. Buffer's queuing platform also allows you to share all the articles and posts you need without overloading your followers all at once. By simply adding what you find to the queue, Buffer will share what you want to post at the times you designate. On the go? Use the Buffer mobile app to quickly and easily share stories and posts and add to your posting queue across your platforms. Freedcamp is a central spot for project planning, organization, and action. Share project to-dos, project files, and join in discussions with team members—with many of these features free to use. Freedcamp offers abundant features including a calendar, discussion board, milestone lists, a wiki for document organization, a social feed wall, an issue tracker, and a time tracker. You can use lists or cards to manage your to- do lists and track your teams across multiple functionalities, or collaborate on the go with the iOS and Android apps, featuring seamless interaction between mobile and desktop. Procrastinating on the web? Rescue Time intends to remedy that by tracking which websites you spend your day on. Check out how you spend your day and learn when you are most and least productive. Rescue Time runs in the background of your browser while you go about your day, and works across multiple platforms, from desktop to mobile. Rescue Time provides detailed reports on how you spent your day, and the Premium subscription can even block out distracting sites, filtering what you do and do not need to get work done. Rescue Time can also work for your whole team, offering both private, personalized reports and group aggregated reports. FREEDCAMP.COM 2 BUFFER.COM 1 RESCUETIME.COM 3