According to a report out this morning from RealtyTrac, house flipping in Orlando is back to normal levels.
The report shows that the average house flipper in the Orlando area made $48,582 this past quarter.
While that’s higher than where it was this time last year, $31,609, Orlando saw a surge in flipping and profits at the end of last year and the beginning of this year.
At the peak of the craze we saw 1,311 homes flipped in the first quarter of this year. Compare that to only 380 in the third quarter. This is more along the lines of what we had been seeing in the Orlando market, 250-375 each quarter.
The great profits at the end of last year helped drive this and brought the average profits for 2012 to $64,976 per house, more than double what we saw this quarter.
You can read the full RealtyTrac report here.
Great news — real estate is NOT a get-rich quick scheme!