House flipping profitable in Portland

House flipping profitable in Portland

More than 400 homes were flipped in the third quarter of last year in Portland, meaning they were bought and resold within six months.

Four hundred is an increase of 16 percent, from the same period last year. The homes cost on average about $215,000 and then sold for about $290,000.

RealtyTrac spokesman, Daren Blomquist, says Portland is catching up to other areas of the country where investors have been buying up foreclosures to sell quickly.

Read more at OPB.