Flipping Houses Has Become A Popular Trend In Pittsburgh Area
PITTSBURGH (KDKA) -- Buying homes and quickly reselling them has taken off in the Pittsburgh area.
The next time you pass by an abandoned or rundown home, the house just may be waiting to be flipped.
Flipping houses is the hottest thing in Pittsburgh right now.
For 18 years, Dan Costantino worked in the trucking and logistics industry.
He flipped houses on the side. But just more than one year ago, he decided to make his side hustle his full-time job.
"It's doing well," Costantino said. "We've come a long way in just a year, was by myself and now we have eight employees."
He said the hardest part is finding the right property and getting it at a good price.
Then you need money to rehab it.
According to Ryan Shedlock from real estate firm Howard Hanna, flipping is hot in Pittsburgh because the price of a home here is cheaper, making it easier to purchase and resell. He also said there is a shortage of new construction.
"In about seven years, I have done about 50 that I have bought and sold," Costantino said. "Sometimes we just buy them at a good price and we sell them on the market. You buy cheap and sell high. That's the goal."
Costantino said some flips are sold for more than twice the original price.
