Fans of HGTV’s Fixer Upper take note, WalletHub has released the 2017 Best Places to Flip Houses and the Texas city that tops the list isn’t what you may think. Out of 150 of the largest cities in the U.S. the best place for flipping a house is El Paso.
The site compared all cities against 22 key indicators including market potential, remodeling costs and quality of life. El Paso’s ranking is 95, 9 and 48 in the above categories.
A total of 16 Texas cities made the list. Among the top 50 were Lubbock, Laredo, Corpus Christie and Grand Prairie. Surprisingly Waco, home of flipping experts Chip and Joanna Gaines, didn’t make the list. The lowest scoring Texas city was Dallas landing on the list at 124.
Before you go whipping out your wallet to find the next house for sale in El Paso, experienced home flippers are cautioning investors to be smart. Flipping houses is seeing its highest rate since 2007, but home ownership is still at a low.
Fewer potential buyers means that not everyone will see a profit from the money they’re putting into their fixer uppers. Those lucky enough though can gather quite a profit as the average home flipping profit in 2016 was $62,624.
Check out the full WalletHub list here and see if the city of your choice made it.