The number of homes being flipped has dropped, according to a recent U.S. Home Flipping Report. A home flip is when a property is sold in an arms-length sale for a second time within a year. Despite Florida experiencing the largest decline in home flips, four of its cities still made it to the top ten metros with the highest flipping rates. The city of Miami ranked ninth.

Homes that were flipped in Q3 2016 had an average sale price of $190,000, yielding an average profit of $60,800. This represents a decrease from the average gross flipping profit of $62,424 during the second quarter. The average gross flipping profit translates to a return on investment (ROI) of over 47% of the purchase price.

This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group.

Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.

M&M Private Lending Group Florida offers tailored private lending solutions, providing flexible private financing options in Florida for individuals and businesses in need of quick and reliable capital. Whether you’re exploring the private lending process in Florida or seeking a customised private loan, M&M Private Lending Group in Florida is dedicated to offering competitive rates and personalized service to meet your unique needs.