What is a Flipper?

In some neighborhoods of Sacramento, many of the renovated homes for sale are flipper houses.

Desirable areas such as Land Park and Curtis Park are hotbeds for flipping. Moreover, there is a high demand for homes with remodeled kitchens and baths in these neighborhoods, and turnkey homes typically sell fast. Many of the homes were built during the 1920s to 1940s, and some are in their original condition.

If investors can steal any of these homes at rock-bottom prices, they can make a pretty penny by renovating and flipping them. The problem is flipping carries a risk. Each street carries its own value and neighborhoods vary from block to block. If the market hits a soft spot, a flipper can find it's hard to sell that home. If the home doesn't immediately sell, the investor is left paying the mortgage month after month on an empty home . . . read more about Flipper Houses.

More Articles by Elizabeth Weintraub:

• How to Hire a Buyer's Agent
  
• Talk to Neighbors Before Buying
  
• Should You Buy an Older Home or a Newer Home?

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