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No Easy Money in Buying and Flipping

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Real Estate Agent with RE/MAX Gold DRE #00697006

I remember a few years ago a successful flipper starting out in Land Park called to ask if I would meet with her about listing her home. She was finishing up a few touches on the home and asked me to meet there. She was not interested in hiring anybody to list her home. She already had an agent, a fact she conveniently omitted while we talked. But she was just getting started flipping homes and wanted a few pointers from a seasoned pro who also lived in Land Park.

Ordinarily, I do not mind helping people without compensation as long as they don't try to deceive me. They could just be straight up about what they needed and not try to be so sly, but what the hey. I don't like underhandedness. You can read more in my personal blog today at this link: So You Think You Want to Buy and Flip Homes?

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Forest Tardibuono
Sun Pacific Mortgage & Real Estate - Santa Rosa, CA
The Guy in the White Hat - Your Hard Money Broker

Couldn't agree more! After 29 years experirence in real estate, financing and flips myself, I am very open to helping others with information, tips, experience, etc. but only if they are honest individuals. 

Dec 04, 2015 03:11 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Elizabeth, I agree with you. Just be straight and honest and I will likely help even if people are not going to hire me. But be dishonest and manipulate and deceive ... likely not going to happen.  And, I'd likely tell them that to their face. You see, I cannot help you because you have proved to me that I cannot trust you.

Dec 04, 2015 05:52 AM
Elizabeth Weintraub Sacramento Realtor Top 1%

Often these people don't see themselves as being dishonest, and therein lies part of the problem.

Dec 05, 2015 01:56 AM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Oh, do I have a good story about a would-be flipper who wanted me to get hold of a property for her to buy because she heard that the owner was sick and in deep financial doodoo. And all without any kind of contract because she didn't want her name mentioned. The good news is that I was able to list and sell that property and make that poor owner a pile of cash in an unbiased marked. PS. don't come to me if you want to screw someone over. 

Dec 04, 2015 10:05 AM
Elizabeth Weintraub Sacramento Realtor Top 1%

That flipper probably saw an opportunity and didn't think far enough past an agent's fiduciary obligations to her seller and simply assumed all agents will throw a seller under the bus, which fortunately is not true. What is sad, though, are the agents who will.

Dec 05, 2015 01:58 AM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Elizabeth.  Looks like a place where I would like to hang out for a few days.  I like you don't want to be deceived.  One of my first questions to any potential buyer/seller is to ask them if they are working with another agent.  If so the discussion ends...

Dec 04, 2015 07:20 PM
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I'm with you.  I would never want to get into business with fly by night fix and flippers.

Dec 05, 2015 01:16 AM
Elizabeth Weintraub Sacramento Realtor Top 1%

I don't think all flippers are bad, just the ones that want to "use" you and from their perspective, they don't see anything wrong with it.

Dec 05, 2015 02:05 AM
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Broker-Associate at RE/MAX Gold, Midtown and Sierra Oaks Sacramento office. Co-partner Weintraub & Wallace Realtors. Selling since 1974. Homebuying expert at The Balance. Weintraub & Wallace sells homes from Galt to Lincoln.
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Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for The Balance, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40+ years of real estate experience to work for you.

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