Have you ever wondered why people look down on flippers?
Foreclosure Flippers are called “scavengers” or “vultures” by others in real estate.
Flipping certainly isn’t the glamorous side of real estate.
With foreclosures, the alternative to a flipper buying the house is the bank taking it back:
- Banks don’t spend time and money, so the house turns into an ugly, empty eyesore.
- Banks unload houses at rock bottom prices, preventing the market from recovering.
- Banks limit properties to occupants, preventing landlords or investors from buying.
The dead stuff needs to be cleaned up quickly.
Flippers fix a home fast, then sell or rent the house right away. That cleans up neighborhoods, removes eyesores, and helps a market recover.
A world without scavengers would get ugly real quick.
So if someone calls you a vulture, does that offend you or make you proud?