He's Not a Flipper; He's a Neighborhood Revitalization Specialist!

AHHHH . . . you beat me to the punch!  I have a blog started, saved to "draft" "Flipper vs. Rehabbing"  I'll still post it, but put a different angle now that your great post is featured! 

You are absolutely right, with all of the foreclosures out there, we should be thankful for someone returning a better product to the market. Love the post.

I love this term" neighborhood revitalization specialist"  ... they have social responsibility..  I really don't like flippers... I have run into too many of them... just paint and hide... and move on!

I have always felt that investors can bring value to a neighborhood by rehabbing run down properties. You've definitely given them a must more positive label.

Peggy,

NEIGHBORHOOD REVITALIZATION SPECIALIST!

Love it; I'm going to use that phrase.

Most of the time we say labeling is disableing but in this case Maybe labeling is enableing!  Tell him to keep up the good work.

Peggy, that's a great way of describing the process: whole neighborhood profits if houses are brought back to life!

Also, a revitalizing specialist should have mastered a set of skills that only appear easy, but in fact are not, so all the profit s/he gets from the sale is well deserved.

Right on Peggy! I like that... Neighborhood Revitalization Specialist...

Ya know... in our neck of the woods at Ground Zero... I've seen "Neighborhood Revitalization Specialists" adding value to a neighborhood.

People (and agents) need to understand the difference between a "Speculator" and a a "Neighborhood Revitalization Specialist".

The REALLY SAD PART... is that these people taking the risk and enhancing values are getting no True Tax Credits for taking the risk they are taking.

I think that is a great point. I am going to start using that term. I know exactly what you mean about "flipper" getting a negative connotation.

Peggy:

The term "flipper" does have some negative images attached to it. But, not without reason. Some of these investors do simply fix up the cosmetics to make a quick sale. If your client is truly renovating then he is providing a valuable service to the community.

I love my new title. . done two this year and I feel much better.

Can I steal your phrase too? . . maybe I 'll shorten it  to NRS

Thanks for sharing Peggy, you make an excellent distinction that I've been targeting for some time.  I'm going to re-blog this too, it's great.

Rock on Peggy !  I could not agree more !  Investors take risk and the good ones help make the neighborhood and communities great.  You make an excellent point.  We work with many "NEIGHBORHOOD REVITALIZATION SPECIALISTs" in Philadelphia as well !  They are a pleasure and honor to work with !  ~ Chris

Peggy, there is a great distinction between the two. Thanks for pointing out the difference. Great term!

Very good post.

As others point out, the term "flipper" is often misused. What you're describing is a good rehabber. A rehabber will spend several months on the entire process, often sinking $15,000-$50,000 or more into a project. That's not a flipper.

A flipper is someone who controls (not even necessarily buys) a house, then sells it (or the contract) to someone else. A flipper puts little or no money into the property. He/she spots a bargain, puts it under contract, then finds someone else who (with the flipper's fee) still considers it a good deal, and sells the property or assigns the contract to that next person.

So, is the flipper, as defined here, bad? No. Not necessarily. A lot of rehabbers get their properties from flippers--more commonly termed "wholesalers" in the investment community. Maybe yours did. For an assignment fee--often in the range of $10,000-$20,000, the wholesaler finds the deal, negotiates the deal, gets rehab estimates, puts it under contract, and presents the entire package to a rehabber. It saves the rehabber the time and effort of hunting down deals, getting preliminary estimates, negotiating, etc.

Together, they're helping to revitalize neighborhoods.

I agree whole heartedly!  We should be grateful for the investors that are taking the risk in a scary market. 

"NEIGHBORHOOD REVITALIZATION SPECIALIST"  That's great!!

Anyone who improves homes in a neighborhood deserves praise...and a profit.  While flipping has a negative connotation because people bought homes during the boom and resold after making no improvements, I think the term will come back in a positive light.  There are a lot of investors doing good things these days.

Good post!

Just love the name! Some how these investors have gotten a bad name over the last few years. Maybe the idiots on TV?  But if most first time homebuyers don't want the hassle of doing it themselves - this is the other option for them!  They are always the most popular to show & always viewed as the #1 choice.  What the house is telling other sellers in the neighborhood is - look this is what I want as a buyer!  Does your house look like this?

Great use of SPIN.  I will certainly change my vocabulary to include my new favorite term Neighborhood Revitalization Specialist thank your for a wonderful post. 

This is a great title to use and I plan to use it.  IMO that is just what they are.