Flips, Flops, and Other Careless, Costly Mistakes
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There is no shortage of aspiring house flippers, thanks to shows like Flip or Flop, Property Brothers, and others. There’s certainly nothing wrong with flipping houses or buying one that’s been flipped. When done well, bringing distressed or neglected properties back to life is a service to communities and brings more inventory to the market.
The problem lies in the fact that buying and flipping houses is basically unregulated. Just like being a roofer in Texas, you can just decide you want to flip houses one day and get right to it. There is no license or special certification required, so you don’t really know if you’re buying from a Property Brother or somebody who watched a few videos on YouTube. Not only that, but you also have bad actors who are in it for a quick buck. They will do the bare minimum for the biggest profit margin and try to conceal anything that could drive a buyer away.
If you are buying a flip house or even a recently renovated property, it’s important to get a thorough home inspection ahead of that purchase. Here are some examples of why:
Texas Chainsaw Massacre
A conscientious expert builder or contractor would never leave something like this behind in a home. It’s shoddy work and potentially dangerous. Whether it happened before or after the vent stack was installed, it should not have been left in place like this.
Short-Sighted At Best
Short-term fixes are the problem with these “bad actor” flippers, and this is a particularly dangerous example. A proficient contractor or licensed electrician would know to never place wiring against the roof decking because anyone performing repairs — or even just installing Christmas lights — could potentially be electrocuted.
Lipstick on a Pig
This should be a real fear when buying a flip home. You do not want to find a major problem all covered up with pretty bells and whistles.
In the video, we see a water leak that potentially caused previous foundation repair, and now the brand-new flooring is cracked, not to mention the constant muddy yard and high water bills. Given the age of the house, the owners might be dealing with cast iron pipes, so they could be facing a pipe replacement in addition to foundation repair. Something like this is harder for a house flipper to recoup, so they’d rather pass that cost along to the buyer.
We’re not saying don’t buy the house of your dreams because it was flipped. But just like any house, you should do your due diligence and learn as much as you can about it before you buy, so you can plan for current and future expenses that will go along with it — and that’s what your home inspector is there for.
