Does house flipping still pay?

From the article headline, “Does house flipping still pay?” What a great question right now!┬áHere’s the link from the article in The Real Deal (SEP 6, 2018):

https://trdsofla.com/2wR59RE

It depends on the financing, the location (of course), how much a rehabber pays for a property (let’s avoid multiple offers, shall we), the experience of the rehabber and their connection to quality contractors, the timing of when it’s ultimately offered to the market, and other factors.

According to the article, Chicago’s market for flipping is stronger than other big cities. This would make sense, because at the moment we have pricing of homes in need of improvements below that of what people would pay on the Coasts.

So, let’s pick up a hammer and get to work!

End-unit Townhouse

3056 n Lowell Ave

Closed Amount: $419,900

Closed Date: JUN 8, 2017

Location: 3056 n Lowell Avenue, Chicago, IL 60641, Hermosa

Property Type: Single Family House, 5 BR, 2.1 BA

Sale Note(s): 3rd time’s the charm; tough Spring market

4323 w Carroll Ave

Closed Amount: $192,500

Closed Date: MAR 16, 2015

Location: 3423 w Carroll Avenue, Chicago, IL 60624, East Garfield Park

Property Type: Single Family House, 5 BR, 2.1 BA

Sale Note(s): Under contract in ten days, closed in six weeks. FHA loan