Posted by travell on January 21, 2005 at 14:28:14:
Im from cincinnati and Im wondeing the same thing
“Flipping” scare? - Posted by Jamie
Posted by Jamie on January 18, 2005 at 13:54:39:
I’m posting this to various boards because in my various RE reading/studying as a newbie, I came across several articles out of Cincinnati that shows local and federal investigators are clamping down on “flipping” property deals.
Now I realize that in these investigations, the deals are blatantly fraudulent and involve gross profits in the scams - MY question to you seasoned investors is: does this pose a serious issue for investors who are only looking to do quick flips, those where nothing’s being done to the houses, and the investor’s only looking to make a minimal profit of say, $2,000-$5,000 (probably using things like lease/option or option to buy (I hope I got the terminology right, I’m still new at this).
The articles I referenced, by the way, were in both the Cincinnati Post and Enquirer. I don’t think I can post the URL on this forum because this site (CREOnline) doesn’t permit it. If it IS allowed, I’ll re-post with the links.
I appreciate your comments, and thanks.