The term 'Flipping' has received bad press recently due to a few unethical individuals. The illegal sort involves buying a home, using loan originators & appraisers in collusion to artificially inflate the price of a home then sell it to a phantom buyer who later defaults on the loan.
I am in the business of assisting investors in purchasing distressed or out of date property at a price below market price. The investor then updates the decor and mechanics of the home. When finished, the home should sell for a profit based on the value added during renovations.
The following checklist will assist in estimating and determining whether a property is ready for a legal flip:
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