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Tech Jobs Driving House Flipping Projects
Reality TV shows about house flipping make it look easy. But behind every lucrative renovation project, there are factors that impact profitability such as buying price, labor costs, unforeseen setbacks and perhaps most importantly, location.
There is no escaping the old real estate adage of “location, location, location.” Home-flipping entrepreneurs must take into account whether polishing up a blighted building is in a viable resale neighborhood. One of the location factors some house flippers are following is the trend in tech jobs.
Because the tech industry does not necessarily rely on interstate highways, commercial hubs or seaports, computer-oriented businesses are taking advantage of once vibrant manufacturing areas that have fallen on hard times. Property values in these areas seem to be trending behind some of the nation’s hotspots despite having many desirable community living aspects such as parks, walking trails, waterfronts, restaurants, and a vibrant arts scene.
Rust Belt Resurgence
Following the decline in industrial work in areas throughout Pennsylvania, West Virginia, Ohio, Illinois and others, once highly sought after cities and towns saw mass population declines. The lack of good-paying jobs left large numbers of wonderful homes and commercial buildings under-occupied.
Tech companies have been putting some economic lifeblood back into these communities in recent ... more

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