Signs Your Flip is a Flop

In 2021 alone, investors were responsible for the purchase of one in seven single-family homes in the country’s top metropolitan cities. Sometimes investors rent out properties but usually they try to flip them for fast profit. The faster the flip, the more likely that there are glaring errors. It’s easy enough to, as they say, ‘slap lipstick on a pig,’ but we don’t want you to make the biggest financial decision of your life on a bad flip. Here are some things to look for! 

No Permits

The first thing a potential buyer should do is have their agent seek out pulled building permits. Any flip worth its weight will have a paper trail of permitted work. Today’s construction industry has rigid standards for a reason and the root of it all is to keep everyone safe. If work was done without a permit, it’s much harder to prove that it’s 100% up to snuff. 

Puzzling Plumbing

Another sign that work was done on the cheap is cobbled together pipes. Problems can arise when new plumbing meets old plumbing and the signs of this can be things like low water pressure and sputtering faucets. It’s recommended to check all faucets, showerheads, and spigots when house hunting. Flush the toilets, too! 

Quick Cabinet Fixes 

Not every kitchen in a flip has to be brand-spanking new. Flippers who take their time and are knowledgeable can absolutely use what they have and oftentimes make it much better. The easy way out is starting from scratch and putting in brand new everything… but what is concerning is doing neither. If flippers keep what’s already there but don’t do the work to make it functional, that is a problem. Quick band aid fixes on cabinets look like uneven or misaligned doors, drawers that stick, and cheap hardware.

No one expects you- the buyer- to be an expert on permits and workmanship. Lean on your agent to help you navigate these murky waters! And if you suspect the home you’re buying is a flip, find a licensed, insured, and highly-recommended home inspector. To use a few cliches, any inspector worth their salt will be able to sniff out a bad flip from a mile away.