SF Flippers Make More Money Than Flippers Everywhere Else – Flipping Out – Curbed SF
San Francisco flippers made an average gross profit of $344,111 per flip in the third quarter of this year, a number that is the highest in the nation, according to new research from property website RealtyTrac. (This means that the average flip profit alone is enough to cover the cost of an entire four-bedroom in, say, the Chicago suburb of Geneva.) The only area included in the report that even came close to San Francisco’s figure was San Mateo County, which returned an average gross profit of $316,765 (or the entire cost of a home in Jersey City). The figures don’t factor in any improvements made to the flipped home, so net profits may be quite a bit lower. Profits in San Francisco are up by more than $50,000 over the same time last year, when the city’s gross profits came in at $292,881 and were beat out by neighboring Marin for the top spot on the list.