Top 10 Fix and Flip California Markets

Top 10 Fix and Flip California Markets – In 2017 over 45,000 homes were purchased for flips…a 60% growth over a 4 year span. Los Angeles County takes that #1 spot with 25.71% of total state volume and a whopping median revenue of $140,000.

At Investor Underwriting, not a day goes by where we’re not asked one of the following questions:

  1. What are the top fix and flip California markets?
  2. How much money are fix and flip real estate investors making in California?
  3. As a new real estate investor, where should I begin buying fix and flips? Northern California or Southern California?

Needless to say, our friends at LendingHome, one of California’s largest providers of fix and flip loans, continue to monitor, share and publish answers to these questions as well as publishing the revenue for the markets identified.

In 2017, California experienced its biggest ever surge in new house flippers and was also LendingHome’s biggest state in terms of loan origination volume. For these reasons, we picked California for our inaugural market analysis report. The “State of The Flipping Market: California,” provides analysis on growth in total number of fix-and-flip homes purchased, median revenue per flip, percent of flips financed with a loan, and other data points related to flipping houses in California.

Here are some highlights from the report:

Hot Fix and Flip California Markets

Five of the top six fix and flip California markets are in Southern California (LA, San Diego, Riverside, San Bernardino, and Orange counties). Ranking first was Los Angeles County, which produced a whopping 25.71% of all fix and flips statewide, with San Diego in second with about 10% of the state’s fix and flips.

The Top 10 in order:

 

Rank

 

County

 Fix and Flips California 

(% of Total CA Flips)

 Median Revenue 

(Per Fix and Flip)

1 Los Angeles 25.71% $140,000
2 San Diego 9.57% $125,000
3 Riverside 8.88% $75,000
4 San Bernardino 7.28% $77,000
5 Sacramento 6.08% $82,500
6 Orange 5.80% $131,000
7 Kern 3.27% $46,000
8 Fresno 2.93% $64,000
9 Contra Costa 2.89% $125,000
10 Alameda 2.79% $189,000

 

Beyond California

Lendinghome also analyzed other states where borrowers from California flipped houses. Also purchased properties in other states in 2017 were 1,533 California flippers (~7 percent). Florida, Arizona, Nevada, and North Carolina were the top states for these purchases.

As far as the length of time it took to complete a flip, we found that flip a house in California, which was 20 days faster than the national average, took about 180 days or about six months on average.

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