Flipping Over the Market!

Two local men are using Syracuse's healthy real estate market to flip a profit!
By Kristen LaVerghetta, NCC News


SYRACUSE, NY - When Zachary Belil and Shawn Clarke look to buy a house, they don’t go for the nicest one on the block, they search for the fixer upper with the most potential. Zac and Shawn are flippers, they buy, fix-up, and re-sell homes for a profit.

The partners used to live in New York City and then Minneapolis, where they began flipping. They decided to leave big city life, and move back to Shawn’s hometown, Syracuse, where they could try their hand at flipping high-end homes at a bargain price.

Zac says that it’s Syracuse’s affordable real estate market that enables them to flip upscale homes. “We can do it here, but if we had to do the same thing in New York it would be impossible… This house in a suburb of long island would cost me a million and a half dollars, it’s no where near that here.”

Compared to the majority of the country, the cost of real estate in Syracuse is very low. Last year the median cost for a house in Syracuse was 131,000 dollar. In New York City that number jumps to just under 440,000 dollars.

Real estate experts say the affordable market here is partially due to Syracuse avoiding the housing boom. David Manzano, President of the Board of Realtors, said that Syracuse did not see the spike in building that most of the country saw. Because of this, the market has remained stable.

Affordability aside, Zac and Shawn say that for their customers, buying a flipped home in Syracuse is a life style choice. Shawn says, “A lot of people, when they buy now in today’s market and they are paying a lot for the house, they want to move into their house right away. They don’t want to take the time to do all of this work… We’re giving them the opportunity to buy an old house, brand new!

Zac says that some of their clients move here to escape the rush of big city life. “It’s a little tiring to constantly face the race in Manhattan, and when you get here it’s a little easier, it’s a little more livable.”

The Syracuse real estate market allows Zac and Shawn to make a good living flipping homes. However, bringing out the beauty in the homes they refinish, is what really gives the pair a sense of accomplishment.