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Truth about Florida's Real Estate Flippers
Truth about Florida’s Real Estate Flippers is something most home buyer are not aware of. Home Buyers love pretty houses…buyers like new stuff. Buyers like to see updated homes. But is the “new camouflage” really worth it? Are these renovations hiding more secrets than home buyers suspect?…you better believe it!. True stories below…
What is House Flipping?
House Flipping is a quick-profit strategy in which an investor purchases real estate under market value and improves the property in order to sell at a higher price. A flip house is defined as a home that is bought and sold within 12 months. How fast a house will sell depends upon the curb appeal of the property. Statistics show that “move-in-ready” homes sell 12% faster.
Orlando has a very healthy real estate market, which is ripe for anyone wanting to flip a house, so this can be a lucrative profit strategy. Flippers just buy a house that is ugly, or outdated or in poor condition and fix up the cosmetics and make it appear good. It may not be good, but it just needs to appear that way. Just slap some cosmetic fixes on troubled properties and ignore pulling permits.
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