FAST FIVE: Home Flippers See Profits Shrink In Latest Sign Housing Boom Is Coming To An End
Those homes generated gross profits of $62,700, up 2% from Q1, but down 2% from a year ago.
That's down from a 40.9% gross flipping ROI in Q1 2019, and down from a margin of 44.4% in Q2 2018.
But many have also recorded massive returns, sometimes doubling their money.
The part of it I find the most problematic is what they call, I believe, their iHome business, their internet buying business, where they actually go out and buy homes and flip them.
I actually think the company doesn't understand the real risks of this business, which are massive.