Mom-and-pop house flippers are a relatively confident and optimistic bunch at the start of the new year despite challenges including high mortgage rates and low housing inventory.
Some single-family home rehabbers are shifting from a fix-and-sell strategy to a fix-and-rent approach because the higher mortgage rates are sidelining would-be buyers. And the inventory shortage is causing investors to turn to older homes to restore.a marketplace for fix-and-flip residential properties.,” found that 73% of investors surveyed said their business grew from 2021 to 2022, and 70% said they plan to invest in 2023.
The exit of iBuyers like Zillow and Redfin from the investor market will open more options for individual investors to scoop up homes to rehab, saidSmall investors who leverage their local knowhow and nimble operations will have a home field advantage in 2023 when it comes to finding opportunities in their neighborhoods, Carlton added in an interview with theThe survey also showed a growing youth movement in residential real estate investment.
Carlton shared more observations regarding the new study, what it means in Dallas-Fort Worth, and how small investors can take advantage of the market to grow their fix-and-flip or rent business in the interview that follows:We're seeing a lot of return to the fix-and-rent. It's a lot more balanced. Last year it was all fix-and-flip . The demand is certainly increasing for rentals, obviously due to rates. Your investors have a much more mixed opportunity right now.
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Flippers shifting strategies in topsy-turvy Dallas-Fort Worth housing market - Dallas Business JournalSome single-family home rehabbers are shifting from a fix-and-sell strategy to a fix-and-rent approach because higher mortgage rates are sidelining would-be buyers. And the housing inventory shortage is causing investors to turn to older homes to restore. Kurt Carlton, president and co-founder of New Western, which offers a nationwide marketplace for fix-and-flip residential properties.
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