Fix and Flip Survey: What Investors Expect in 2025
Date Posted: Mar 24, 2025
The 2025 home flipping environment is active but cautious, with demand for fix and flip properties and a growing focus on rental conversions. However, expectations for growth across all markets remain muted, and regional challenges like inventory, competition, and rising costs impact sentiment.
In this article, you’ll see the full results of our first LendingOne-ResiClub Fix and Flip Survey. Real estate investors that reported that fix and flips were a part of their investment strategy were eligible to respond to the survey, fielded from February 1 to February 19, 2025. ResiClub, our partner for the survey, is a news and research outlet dedicated to covering the U.S. housing market.
Our findings reveal that the home flipping market in the Northeast remains particularly hot, as price appreciation, tight inventory, and aging housing stock create investment potential for fix and flip projects. However, home flippers in the region face intense competition for properties and elevated purchase prices.
Topline Findings
1. Home Flipper Sentiment and Intent
Fix and Flip Activity:
- 89% of home flippers plan to conduct at least one fix and flip in 2025.
- 64% plan to convert at least one fix and flip project into a rental using the fix-to-rent method.
Market Outlook:
- 78% describe the demand for fix and flip properties as strong in 2025, with 32% saying “very strong.” In the Northeast, 59% of home flippers described demand as “very strong.”
- 64% of survey participants expect the fix and flip market to stay the same (47%) or weaken (17%) in 2025.
2. Financial Considerations
Renovation Costs:
- Home flippers in the Northeast spend the most, with 34% investing over $200,000 per project.
- 56% of U.S. home flippers say kitchen upgrades provide the best return on investment.
3. The biggest concerns across U.S. markets, according to home flippers
- Northeast: Housing inventory is the biggest challenge (34%).
- Midwest & Southwest: Competition for properties is reported as the top concern among flippers (31% and 34%).
- Southeast: Interest rates are the biggest challenge, with several home flippers specifically noting trouble accessing enough financing for projects
- West: Labor and material costs are the top challenge (24%).
How Likely Flippers Are to Conduct a Fix and Flip in 2025
How Many Fix and Flips Investors Complete in a Year
Average Timeline of Project from Purchase to Resale
Renovations with Best ROI
Share of Home Flippers Who Own SFR Properties
Current State of Flippers’ Primary Fix and Flip Market
Biggest Challenges Home Flippers Face in Current Market
How Flippers Describe Demand for Flips in Their Primary Market
How Flippers See the Market Evolving in the Next 12 Months
Average Budget for Fix and Flip Renovations