Boston Home Flippers Saw More Money, Smaller Profits Than Peers
Local home flippers are out-earning their peers in other parts of the country, but their raw profits represent a much smaller share of their projects’ final sale prices.
Local home flippers are out-earning their peers in other parts of the country, but their raw profits represent a much smaller share of their projects’ final sale prices.
America is facing a significant housing shortage, especially at entry-home level. And unnoticed by most, America’s mom-and-pop investors are quietly leading the charge in fixing this.
High mortgage rates, soaring house prices and rising construction costs have driven many flippers out of the market. And with their exit comes a great opportunity for people eager to buy a fixer-upper of their own.
A new brokerage has opened its doors in East Boston’s Orient Heights section, aiming to help first-time buyers and real estate investors.
Secretary of State William Galvin charged a Milton man with defrauding investors – many of whom were friends and acquaintances – by convincing them to loan him money in fraudulent house-flipping schemes.