Posted on: 06th Sep, 2007 09:45 pm
What is Mean by Flipsale?
Hi Nrajagopalan,
Welcome to the forum,
The concept of flip sale refers to the practice of selling a property at a higher price after making some necessary improvements upon it.
Though the seller himself purchased that property at a lower price (below market value), he sells it at a higher price and thus makes a profit on it.
Welcome to the forum,
The concept of flip sale refers to the practice of selling a property at a higher price after making some necessary improvements upon it.
Though the seller himself purchased that property at a lower price (below market value), he sells it at a higher price and thus makes a profit on it.
Flipsale could mean several things.
In certain terms it is used as the illegal practice of flipping properties for more than they are worth for a number of different reasons. All which involve defrauding 1 or more lenders in order to take huge profits over and over on the same property. Sometimes flipping occurs in order to drive up the prices in a community. Then the "flippers" can make more money on all the properties in a neighborhood after showing inflated values after several of their "flips".
Sometimes it is the innocent mind child of tv watching wannabe's. Flipping in this terminology is when you buy a run down "fixer upper", rehab it and sell it quickly for a profit.
Be careful as the latter can be a great way to make money and have a fulfilling career in real estate. The prior can land you in prison.
In certain terms it is used as the illegal practice of flipping properties for more than they are worth for a number of different reasons. All which involve defrauding 1 or more lenders in order to take huge profits over and over on the same property. Sometimes flipping occurs in order to drive up the prices in a community. Then the "flippers" can make more money on all the properties in a neighborhood after showing inflated values after several of their "flips".
Sometimes it is the innocent mind child of tv watching wannabe's. Flipping in this terminology is when you buy a run down "fixer upper", rehab it and sell it quickly for a profit.
Be careful as the latter can be a great way to make money and have a fulfilling career in real estate. The prior can land you in prison.
