Omaha is #4 best city to flip a home!

24/7 Wall St ranked Omaha-Council Bluffs, Nebraska-Iowa #4 in the nation for best city to flip a home, and here is why:

4. Omaha-Council Bluffs, Neb.-Iowa
> Return on investment: 59%
> Avg. gross profit: $37,425 (30th lowest)
> Flipped price: $100,912 (9th lowest)
> Number of flips: 271
> Flips, pct. of home sales: 12.2% (16th highest)

Average return on investment on a flipped home in the Omaha metro area increased by more than 10 percentage points in the first quarter from a year ago, a larger growth than most other metro areas. However, the dollar amount gained from flipping declined substantially, from $55,546 last year to just $37,425 in the first quarter of 2014. This means the higher returns were due primarily to plummeting home prices.  Last year, flippers purchased homes for an average price of $116,171. This year, the average pre-flip purchase price was just $63,486, much lower than half the national average price of $183,276. Flippers could also find relatively low prices by buying on distressed homes, with prices for distressed homes discounted 54.6% as of March, among the largest discounts nationwide. Unlike several regions with lucrative home flipping markets, the Omaha area’s unemployment rate of 4.5% in March was considerably lower than the national rate.

Read more: The 10 Best Cities to Flip a Home - 24/7 Wall St.

Brought to you by Gena Schriver, REALTOR at BHHS Ambassador, 402-320-HOME (4663)

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