Posted by Mark Walters on September 22, 2001 at 18:13:09:
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Clare,
Flipping is simply a term used for selling a property soon after you aquired it. It really doesn’t matter who’s purchasing the property. It can be any of the titled people you mentioned above or someone who wants to live in the home as a principle. It just means you presumably purchased low and are selling “flipping” for a quick profit.
Hope That Helps!
Mark Walters~
Flips vs. retail - Posted by Clare Z
Posted by Clare Z on September 22, 2001 at 18:04:30:
For my own clarification:
I understood flipping to be wholesale buying with a fast sale to a retailer/rehabber and a retailer to be one who buys the house cheap, then fixes it up him/herself then sells to a homeowner with or without a flipper/wholesaler as a middleman.
Do I have this right? It gets muddy when I read emails that seem to use the words interchangably - so maybe I am wrong…?
Just wondering…
Clare
Re: Flips vs. retail - Posted by Chris
Posted by Chris on September 25, 2001 at 23:22:33:
If you have a property that you bought at a deep discount and all it needs is paint and carpet, give me a call at 440-934-1151. I have a loan program that allows you to sell to the end user without taking title to the property. There are no deed seasoning requirements.
Re: Flips vs. retail - Posted by Ronald * Starr
Posted by Ronald * Starr on September 22, 2001 at 18:34:50:
Clare Z-------------
Remember what one of the queens said in Alice Through the Looking Glass (or was it the other book, Alice in Wonderland–sorry, I’m not a literary scholar)? Something like “Words mean just what we want them to mean, nothing more, nothing less.”
I agree with Mark Walters" definition of “flipping” properties. However, some people seem to restrict the use of the term to flips to other investors who fix properties up for resale. Other people often call these “wholesale flips.” A retail flip is to sell to the enduser homeowner occupant or possibly a longer-term holder of rental properties.
Rarely would an investor who has fixed up a property use a flipper person to resell their properties. They would either market the properties themselves to retail buyers–mostly homeowner-occupants–or go through real estate brokerages.
Good Investing******Ron Starr