Tulsa: 11th best city to flip houses

HomeDesignWith more than 110,000 house-flipping investors in 2015 — the highest rate since 2007 — and an average gross profit of $55,000, the personal-finance website WalletHub took an in-depth look at 2016’s Best Cities to Flip Houses.  Tulsa ranks 11th in the nation.

WalletHub’s number crunchers compared the 150 largest cities based on 19 key metrics. Our metrics range from “median purchase price” to “average full home remodeling costs” to “housing-market health index.” 

Flipping a House in Tulsa (1=Best; 75=Avg.)

  • 24th – Avg. Gross Return on Investment
  • 30th – Median Purchase Price
  • 36th – Housing-Market Health Index
  • 1st – Number of Real-Estate Agents per Capita
  • 10th – Avg. Kitchen Remodeling Costs
  • 35th – Avg. Bathroom Remodeling Costs
  • 10th – Avg. Full Home Remodeling Costs
  • 49th – % of Population with Walkable Park Access
  • 59th – Median Salary (Adjusted for Cost of Living)

For the full report, please click here.

homeDeedJust consider before you demo that pink-tiled ’80s kitchen to take a stern reality check from the Property Brothers. Experienced home flippers caution that transforming a real-estate beast into a bankable beauty is never as easy as it looks on TV.

In other words, don’t get your hands dirty until you’ve learned a thing or two about real estate, construction and how much damage your project could do to your wallet — and to the beam that’s keeping the roof from collapsing.

Just because that dilapidated Victorian treasure only cost you the price of a new Prius doesn’t mean you’ll easily earn back your investment.  That said, have fun!