Oaktree Propels House Flipping Revival With 20% Gains: Mortgages
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House flipper Greg Hebner expects to rake in about 30 percent profit in eight months, more than twice the return of the Standard and Poor’s 500 Index, as he seeks a buyer for his latest makeover.
Hebner, a builder and remodeler, would be able to make that profit thanks to the availability of short-term financing for flippers. He used $360,000 in cash and a loan to purchase the $880,000 home in Los Angeles in August. If he gets his asking price of $1.4 million, his take will have grown to $480,000.