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Fintech company reveals positive market sentiment
WEST HARTFORD, Conn. , Oct. 3, 2023 /PRNewswire/ — New Silver, a fintech company that provides fix-and-flip financing to real estate investors, is pleased to release the findings of its’ comprehensive House Flipping Survey 2023. To gain deeper insights and perspectives around the fix-and-flip industry, New Silver conducted a survey involving over 200 real estate investors, with insightful results.
Full-Time vs. Part-Time House Flippers
56% of the survey respondents identified as part-time investors, while 44% claimed to be full-time investors. The survey revealed that many flippers, including part-timers, managed to sell 2 or more houses each year. This showcases the potential for substantial earnings in fix-and-flip investing while maintaining other professional commitments.
Is Flipping Houses Still Viable in 2023?
An astounding 80% of flippers anticipate an increase in profits over the next 12 months. This overwhelmingly positive sentiment underscores a bright outlook for the industry. To work out the profitability of your next house flip, check out this free house flipping calculator.
Most Popular States For Flipping Houses
Some states offer higher returns on fix-and-flip projects due to factors such as demand and property prices. According to New Silver’s survey, the top states for flipping houses in 2023 are:
Most Popular House Flipping States (PRNewsfoto/New Silver Lending LLC)
Infographic – https://mma.prnewswire.com/media/2235358/New_Silver_Lending_Infographic.jpg
Florida and Texas stand out as major hotspots for flipping houses, thanks to robust real estate markets and high demand for homes.
Fix-And-Flip Investing Challenges in 2023
Accessing affordable capital emerged as the most significant obstacle for those flipping houses in 2023, with 39.62% of respondents identifying it as the primary challenge. Traditional loans often fall short in meeting the financial needs of fix-and-flip investors, who welcome alternative financing options, like fix-and-flip loans.
Story continues
The survey data, coupled with the positive sentiments of investors, demonstrates that the potential for success in flipping houses remains robust in 2023.
Find the full results of the New Silver House Flipping Survey 2023 here: https://newsilver.com/the-lender/house-flipping-survey/
About New Silver Lending LLC:
New Silver is a technology company that provides fast financing to real estate investors who focus on fix-and-flip residential projects. New Silver’s proprietary software accelerates, automates and streamlines loan originations while using data to reduce default risk. Additionally, New Silver’s FlipScout tool uses intelligence in order to help find real estate investment projects with the highest ROI. For more information please visit https://www.newsilver.com
Cision
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SOURCE New Silver Lending LLC
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This article was originally published by a finance.yahoo.com . Read the Original article here. .