Is house Flipping Back in Portland?

House flipping, a key feature of the pre-recession residential real estate market, remains a small part of the Portland market.

Yet for those who venture into the speculative business, it can offer double-digit profits.

RealtyTrac, an Irvine Calif.-based real estate research firm, studied flipping activity for the year that ended in March. The practice generally entails purchasing a home at below-market prices, fixing it up and selling it quickly for a profit.

The Portland area isn’t one of the most profitable markets for flipping but the practice is profitable, RealtyTrac said.

The New York area, with 7,066 sales considered flips, has the nation’s most active flipping market. The Washington D.C. market, with an average return of 83.4 percent, offers flippers the best returns.

Here’s how the Portland area stacks up, by county:

• Clark County: There were 297 flips with an average return of 37.1 percent.
• Clackamas: There were 128 flips with an average return of 32.85 percent.
• Multnomah County: There were 423 flips with an average return of 29.79 percent.
• Washington: There were 214 flips with an average return of 24.44 percent.

Click HERE for the Original Article