Tennessee Named a Flip Friendly State in 2020

 

Flipping a home isn't just profitable but fun and exciting. Our real estate agents here at Fletcher Bright Realty know many of the best Chattanooga homes for sale that might be attractive to investors. Beautiful homes of many different architectural styles can be found right here in Chattanooga.

 

House flippers of all experience levels have a reason to rejoice: Tennessee has been named a Flip Friendly State for 2020 according to a recent Bigger Pockets article.

 

Flipping has grown in popularity in recent years, with plenty of popular television shows fueling the trend. But only a few states have laws that are truly welcoming to home flippers.

 

Tennessee has been named over and over again by business publications as one of the best places to get started with house flipping. It joins a handful of tax and business-friendly states, including Pennsylvania, Maryland, Louisiana, and New Jersey. By a variety of economic and life satisfaction measures, Tennessee is the place to be.

 

Three cities are leading the pack when it comes to flipping in Tennessee:

 

These days, Chattanooga is known as one of the technology hubs of the south. New startups and established enterprises have flocked here to take advantage of a young, educated workforce and our super-fast Internet speed. 2018 saw record investment combined with one of the region's lowest unemployment rates. The median home price had increased by more than $60,000 by the first half of 2020.

 

Knoxville's hot downtown area is an anchor to its strong job market and a leading attraction for home flippers. Home prices in many neighborhoods saw triple growth in 2018 and 2019, with the average home going at or near its original asking price. Newer homes are common in many parts of Knoxville, enabling flippers to stay focused on affordable repairs and upgrades.

 

In a state where cities are already known for a diverse economy and vibrant social life, Nashville stands out. "Music City, U.S.A." has been praised by the Wall Street Journal for both its economy and its relentless focus on urban renewal. Many historic neighborhoods are finding a new lease on life as flourishing, family-friendly centers. These are places where flippers can always find a few motivated sellers to work with!

 

And the big cities aren't the only opportunities around for savvy investors.

 

Suburban locales around the state are on the grow as Fortune 500 enterprises sow the seeds of new bedroom communities. The market may fluctuate, but you can bet on Tennessee as a long-term home for your flipping endeavors. Relatively simple tax codes and a bevy of business-friendly policies make it simple to hit the ground running in The Volunteer State.

 

No matter whether you're new to the house-flipping game or an old hand, one thing is for sure: You don't want to go it alone! Fletcher Bright Realty has the expertise you need to make your flips easier. To find out more, Contact us today.