BankRate.com Article On Flipping Houses
I recently read an article by a BankRate.com columnist about how flipping houses is not always a bad thing. The author goes into the fraud aspect of flipping and how it can hurt the first-time home buyer.
As an investor, I know that when we were looking for properties to invest in we could spot a “flipped” house down the street. Upon closer inspection, without fail, we would have had to do repair work on the house so that it would stand up to the abuse that most tenants inflict on a rental property.
Needless to say, we never bought one of these houses and I’m glad we didn’t.
Thankfully most of our rentals were built in a time when “remodelling” was just not that common I guess.
Houses in Florida that were built in the 60s and 70s were built pretty solidly. There’s no drywall as we know it. Back then they used real “sheet rock.” The kind of wall board that has actual concrete in it. If you wanted to “kick” a hole in the wall, you’d need tools or at least a good pair of steel toe boots.
