4 Keys to Buying a Flipped HouseDeals The List
On cable and in real life, flipping houses is all the rage, but as the name implies, the goal is to buy low, then put as little into the property as possible, before selling high. And that can mean shoddy repair work. Jimmy Rhoades and professional house flipper, Christina Peace, have four tips for spotting a bad flip.
1. Check Doorways for Small Cracks
Look for these hairline cracks coming out of the corners, coming up the wall or across the top, anywhere where your corners meet, or you have a header. If you're in a newly flipped home, you're going to have fresh paint. If you see cracks in fresh paint, that should be some sort of sign of what's going on here.
2. Look Past the Pergo
Just drop your marbles and make sure they hardly roll. That means your home is level. You don't want everything going off into the corner, or everything coming into the middle.
3. Check Finishing Features
A bad flip, you're going to see old cabinets, and just slap on modern paint, and say, "Hey, you've got a brand new kitchen."
4. Do Your Research
Start by finding out who flipped the home. If you're being shown the home and you know that it's a flip, ask, “Well, who did this?” Then dig into their reputation. Call the city planning and development department. They will know who's doing shoddy work.
So don't fall prey to shoddy work or smoke and mirrors. Use these tips to find a flipped home that your family can live in for years.
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