Home flipping is hot on Long Island thanks to HGTV

Get flippin'!
Get flippin'!

 

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Home flipping is more popular than ever thanks to HGTV, and Long Island is feeling the effects, Bloomberg reported. Last year, 19 percent of homes in Nassau and Suffolk counties were purchased by investors — up from 12 percent in 2016, according to the outlet. “People are watching HGTV and hearing from different gurus about what they should be doing,” Michael Pinter, a partner at LMPK properties in Hewlett, New York and home flipping “wholesaler” told the outlet. “Very often someone who’s hungry for their first deal will pay more.” The market is conducive to flipping because there are “not a lot of homes being built and there’s an aging housing stock,” CoreLogic economist Ralph McLaughlin added. [Bloomberg]