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Also based in San Antonio, Texas, Danny Johnson, owner of Danny Buys Houses, said there are a couple different ways to look at profit differences between cities when flipping houses.
“While cities in California usually produce higher total profits than cities in the Midwest, they do not compare to the return on investment in less costly places,” he said. “I love real estate investing in San Antonio, Texas, because I can typically make great profit margins without huge outlays of money.”
When choosing which area to focus on buying properties to flip, Johnson said he looks for the largest buyer pool.
“For San Antonio, that is just over our current median home price of $288,000,” he said. “This is where there are more buyers.”
As a seasoned house flipper, he said it’s important to keep your holding costs down.
“Knowing where the largest demand is can help you keep days on market down,” he said. “The faster we sell, the more we make.”
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