Real Estate Investing

Flipping Is Just Hard for Some

Blissfully, I was out showing houses again today to a buyer ready, willing, and able!  You always see odd things when you go to the homes of other people and today was no exception.  We saw a home where the sellers had attempted to panel their walls with the leftover laminate flooring.

Laminate Walls

Perhaps the thing that tickled me the most was how the seller used the cord-around as wall trim.  Also, if you look closely, you’ll see the rope design element AND the wall outlet inside the fireplace.

Paul Campbell, an agent in my old hometown of Lexington, Kentucky, wrote a warning to people flipping homes,

It is so easy to walk into a vacant house and spot a home that someone has bought and is trying to flip.  Especially if it is someone who is not a professional remodeler.  Typically these homes are in need of repair to the repair.  Recently I showed a home to a client where the attempted updates to the kitchen included a two piece granite top that was at least half an inch off at the seam.  They had also attempted to update the kitchen without installing a dishwasher.

Often these “get rich quick flippers” also will not bother getting a home inspection.  So when they try to sell the home things such as electrical problems or even worse mold problems raise their ugly head and the “flipper” ends up losing money.

I’ll have to agree with Paul.  It’s quite obvious when some people flip a home.  You can see the shoddy work sometimes or smell the leftover dog and cat odors where subfloors weren’t replaced as the new carpet went down.  May the buyer beware!

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