Are you a fan of HGTV shows like Property Brothers, Fixer Upper, Flip or Flop, or House Hunters? If you have caught one or many episodes, then you are bound to be curious about who is investing in flipping properties.
The California Association of Realtors recently did a survey to identify investor characteristics and behavior.
Here are some of the interesting findings:
The average age of the investor was 50 years old
In 2017, 67.9% of investors were Individuals, compared to 23.5% of investors being a Limited Liability Company (LLC), or Corporation (5.3%).
Who was Buying Properties?
Contrary to the perception that foreign investment dominates the market, 93.3% of investors were U.S. investors
The 2nd highest country by investment (after the USA), was China which made up 3% of investors
Average number of properties purchased and why?
The average investor purchased 6.5 properties in the past 12 months
The primary motivation for individuals to invest in property was for the Annual Rental Income (35.6% reporting that was the primary motivation)
What is going on in our local market? What have you been observing? When there is a flip in your neighborhood, it is always interesting to watch it be remodeled, put back on the market, and sell again.
Are you the Average California Investor? If you own multiple homes, it may be a good idea to look into a 1031 Exchange. Click Here for the video talking about 1031 Exchanges. There is a second video Phil did with me to specifically speak about Property Types and Locations
I would love to meet up with you in person this week. I can work around your schedule and ensure that we have time to talk face-to-face about your real estate goals.
Give me a call at 626.261.9093 or simply email me at Christyna@ChristynaButcher.com
Christyna was born and raised in the San Gabriel Valley, and has been in the real estate industry for 22 years. She takes pride in her professional “client first” mentality and providing her experience and ability to negotiate on their behalf – regardless of whether they are buying or selling. Her clients also benefit from her knowledge of the San Gabriel Valley and surrounding areas, including; the Inland Empire and Los Angeles. She also takes personal pride in raising her daughter with her husband in her hometown of Glendora. Christyna knows every client is important, and looks forward to accepting the responsibility of helping them meet their real estate goals.