According to a recent report in the Wall Street Journal, many larger banks such as Goldman Sachs Group, J.P. Morgan Chase & Co, and Wells Fargo are currently extending credit lines to businesses that specialize in lending to house flippers. This flexible financing has resulted in the highest number of investors who flipped a house in nearly ten years.

Many lenders are loosening up their documentation rules, still requiring bank statements but not a W-2 form.

Finally, there has been rapid growth in financing opportunities through online lenders such as Asset Avenue and LendingHome and even crowdfunding sites such as GroundFloor Finance.

The days of making unbelievable profits from house flipping may be drawing to a close, at least in the Bay Area. While San Jose and San Francisco actually lead the country in flipping houses, according to a recent study by Trulia, slower price gains in the Bay Area mean lower profits or even selling at a loss.

Price flipping, of course, is buying, fixing up and reselling homes in a short time at considerable gain (hopefully).

According to analysts flips accounted for 2.5 percent of the East Bay’s home sales from 2013 to 2014, down from 3 percent a year ago. The South Bay was 4 percent, which is up from 2.8 percent a year ago, and San Francisco was 3.8 percent, up from 2.1 percent a year earlier. Currently, San Jose and San Francisco rank number 1 & 2 in house flipping.

Why the current risk? Today’s high house prices cut into profit when the home is resold, making flips far riskier. House flipping professionals say you better be sure you’re getting a price at least 30 percent below market or you may end up losing money.

House flippings Top Ten:

1. San Jose
2. San Francisco
3. Knoxville, TN
4. Bakersfield, CA
5. Nashville, TN
6. Orange County, CA
7. Fort Lauderdale, FL
8. Ventura County, CA
9. Cambridge-Newton-Framingham, MA
10. Riverside-San Bernardino, CA