I was looking and almost bought a house that I know was flipped. From what I could see it was very nice but suspicious me had to take a look in the attic. The brick chimney was leaning and braced up with boards. No need to have inspection. I walked out.
I live in DC and I do not understand why people are breaking their necks to buy these expensive renovated tiny houses! People practically buy these homes in a wink! A for sale sign goes up and multiple buyers are lined up all throwing cash at the flipper who then gets even more than the asking price. It's insane. Some of the places were in disrepair for decades yet are renovated in a matter of weeks. A tiny rowhouse across the street from me was renovated and turned into two condos about 4 months ago. Mind you this tiny house became two condo units. One sold for over $800,000 the other over $900,000. They're not even 6 months old and the unit upstairs must have been leaking when it rains because a big blue tarp was hanging from the roof for a month! Simply absurd! The owners of the property in this video should have known to at least have had the property looked over by a good home inspector that covers everything from top to bottom inside & out. Expensive? Maybe. But look what they got stuck with. The honest inspectors are worth every dime. Note* don't use an inspector recommended by the seller, realtor etc. They're often in cahoots with the person scamming you.
As someone who has fully renovated a house from studs to siding (soup to nuts) I would never ever buy a home from a flipper unless I knew them personally. I've been in the middle of other people's projects and seen them make the cheapest choices for the best returns. Great for them, bad for their buyer. Work with people you trust. That takes time to assess and establish. There's going to be a whole generation of "updated" homes that will wear out in just 5-10yrs. No thanks.
Saw a flip with illegal plumbing and natural gas lines in the listing photos. You cannot run PEX water lines without support, but they ran them across an open floor space several feet long, and up the side of the water heater with no support but the PEX itself. The natural gas line to the water heater was incorrectly installed; the drip leg/sediment trap required by codes was missing, so any rust/sediment in the gas line would go into the water heater valve and burner.
I watched a group buy a $36,000 dump and redo it. They were drinking vodka every day, seen an empty half gallon every week. The work was HORRIBLE! The sad sacks that bought this tird paid $250,000 for a moldy nasty dump. Pool leaking, ac dead. Broken rafters. On and on. Welcome to Florida
Got a inspection first thought they got me lost some of my earnest money but it was worth the lost. Shower was horrible wires were everywhere . So sad people just want a nice home not nothing to die for.
Yeah, some people just look at a very nice home in a nice neighborhood and think everything must be squared away. People are good at slapping a coat of paint and jerry-rigging fixes that will last only long enough to get the sale closed and then it's your problem. That home inspection fee is a drop in the bucket if it saves you tens or even hundreds of thousands in repairs or fines for things not being up to code. Real estate is still strong where I live and it amazes me how people from other states are buying these homes in rather dilapidated conditions. Some just want the land to tear it down and build their own but many think they are just going to invest a few thousand in wear and tear and everything will be fine.
630K was the first red flag. I think that flippers are taking advantage of home inspectors that typically don't do good jobs for their customers. I'm gonna bet they picked the cheapest one without doing any homework themselves. At their age, they should not be so naive, especially about spending this much money!
So a buyer should ask to see all the building permits?….then a city inspector drops by and approves work?… then if there are problems the Inspector is on the hook?
Unfortunately, they probably scrambled to outbid another nitwit when they purchased the home. And an offer without an inspection contingency is obviously a stronger offer. It's the greater fool theory applied to home buying.
Unfortunately 8590% of flippers want to buy a property put a little bit of money until it and triumph look the house within a month because they know or pay the interest and they are all of pay in the loan payments and if they could do that they can avoid that so they cut is briny corners is you can 9 times out of 10 permits are not issued the work is not done by professionals added kin be a basically a lemon
Face it today a house is a money pit! Taxes, upkeep, insurance, the unknown! A house is made of materials meant to fail! You wind up with a neighbor from hell then what, or a drug dealer?
Renting is a money pit, they have to pay the same thing you would had you bought it...you're just handing over the same money...plus a bonus to the landlord.
Sometimes the inspectors are lazy or don't do their due diligence. I bet the flippers makes attempt to know many of these home inspectors and they get a cut from the deal.
It is not hard but not easy to get a reputable home inspector. Some states and cities don't even require the home inspector to have any kind of experience or take any test. Just apply for the license and that's it. Yet something else you need to find out depending where you live.
@@zell863 lol sure your going to say that your part of the problem you think 🤔 I’m just running my mouth I’ve seen the other side to much of the bad that goes on and to be honest new home builders are not much better with the crap their putting out there and of course they will say the same thing it’s buyer beware
@@zell863 I think there should be a different word when quality work is done. Maybe call it “renovation” instead of flipping because flipping has a connotation of quick work done for maximum profit. I’m glad you work with quality people.
This is such an awful way to treat your local community to profit off of raising housing costs that are already so insanely high and just yell at younger generations for being lazy and not buying homes
Exactly. Sellers were not accepting any offers if you wanted an inspection. Also, they would lose their minds if you were not paying all cash. Financing?... They would pass on you.
Pause for 2 minutes and read over the list at 1:08/1:09. Those code violations are relatively harmless and you could probably pull a similar list for any house you inspect lol. It doesn’t say anything about a bad foundation, heating or ac not working, busted hot water tank, no leaking roof, no structural damage. $100,000 to weather strip a garage door, put a bracket on a gas pipe, or install a handrail? They’re complaining that the new finished stairs have an extra centimeter or two between each other? That’s absolute puffery, seems like this channel likes to exaggerate and this homeowner care just wants attention.
Ask that homeowner how much of the $100,000 he spent since this video what shot. I bet $0 because he forgot since none of what he said actually bothers him.
The video also says the inspector called them.. they didn’t call him.. probably because nothing went wrong with the house. What inspector is so proactive to reach out to other homeowners that bought from the same flipper? One that’s got something personal against the flipper...
I work of a couple house flippers and guys that fix up and rent it. I'm carpenter. We all go out and do honest job and everything is checked by inspectors. I do not see reason to cheat people. Just go f out and do yours job properly.
they really are a money pit. our flipper cost us prob $20,000 in 3 years and that doesn't include what insurance had to pay never buy a flip again so frustrated!! we are looking to move as soon as possible-should've sewed the flipper! kharma is a bitch n hope it comes to him sooner than later
I was looking and almost bought a house that I know was flipped. From what I could see it was very nice but suspicious me had to take
a look in the attic. The brick chimney was leaning and braced up with boards. No need to have inspection. I walked out.
I live in DC and I do not understand why people are breaking their necks to buy these expensive renovated tiny houses! People practically buy these homes in a wink! A for sale sign goes up and multiple buyers are lined up all throwing cash at the flipper who then gets even more than the asking price. It's insane. Some of the places were in disrepair for decades yet are renovated in a matter of weeks. A tiny rowhouse across the street from me was renovated and turned into two condos about 4 months ago. Mind you this tiny house became two condo units. One sold for over $800,000 the other over $900,000. They're not even 6 months old and the unit upstairs must have been leaking when it rains because a big blue tarp was hanging from the roof for a month! Simply absurd! The owners of the property in this video should have known to at least have had the property looked over by a good home inspector that covers everything from top to bottom inside & out. Expensive? Maybe. But look what they got stuck with. The honest inspectors are worth every dime. Note* don't use an inspector recommended by the seller, realtor etc. They're often in cahoots with the person scamming you.
never buy a house with out a inspection from a privet inspector of make sure you got a good cfo. from the seller
What does CFO mean? Thanks in advance
As someone who has fully renovated a house from studs to siding (soup to nuts) I would never ever buy a home from a flipper unless I knew them personally. I've been in the middle of other people's projects and seen them make the cheapest choices for the best returns. Great for them, bad for their buyer. Work with people you trust. That takes time to assess and establish. There's going to be a whole generation of "updated" homes that will wear out in just 5-10yrs. No thanks.
Saw a flip with illegal plumbing and natural gas lines in the listing photos. You cannot run PEX water lines without support, but they ran them across an open floor space several feet long, and up the side of the water heater with no support but the PEX itself. The natural gas line to the water heater was incorrectly installed; the drip leg/sediment trap required by codes was missing, so any rust/sediment in the gas line would go into the water heater valve and burner.
I watched a group buy a $36,000 dump and redo it. They were drinking vodka every day, seen an empty half gallon every week. The work was HORRIBLE! The sad sacks that bought this tird paid $250,000 for a moldy nasty dump. Pool leaking, ac dead. Broken rafters. On and on. Welcome to Florida
Got a inspection first thought they got me lost some of my earnest money but it was worth the lost. Shower was horrible wires were everywhere . So sad people just want a nice home not nothing to die for.
Yeah, some people just look at a very nice home in a nice neighborhood and think everything must be squared away. People are good at slapping a coat of paint and jerry-rigging fixes that will last only long enough to get the sale closed and then it's your problem. That home inspection fee is a drop in the bucket if it saves you tens or even hundreds of thousands in repairs or fines for things not being up to code. Real estate is still strong where I live and it amazes me how people from other states are buying these homes in rather dilapidated conditions. Some just want the land to tear it down and build their own but many think they are just going to invest a few thousand in wear and tear and everything will be fine.
100.000$ vs 200$ inspection.
Seems there was not a professional inspection done and permits were not checked at all
630K was the first red flag. I think that flippers are taking advantage of home inspectors that typically don't do good jobs for their customers. I'm gonna bet they picked the cheapest one without doing any homework themselves. At their age, they should not be so naive, especially about spending this much money!
So a buyer should ask to see all the building permits?….then a city inspector drops by and approves work?… then if there are problems the Inspector is on the hook?
Unfortunately, they probably scrambled to outbid another nitwit when they purchased the home. And an offer without an inspection contingency is obviously a stronger offer.
It's the greater fool theory applied to home buying.
Unfortunately 8590% of flippers want to buy a property put a little bit of money until it and triumph look the house within a month because they know or pay the interest and they are all of pay in the loan payments and if they could do that they can avoid that so they cut is briny corners is you can
9 times out of 10 permits are not issued the work is not done by professionals added kin be a basically a lemon
Face it today a house is a money pit! Taxes, upkeep, insurance, the unknown! A house is made of materials meant to fail! You wind up with a neighbor from hell then what, or a drug dealer?
Renting is a money pit, they have to pay the same thing you would had you bought it...you're just handing over the same money...plus a bonus to the landlord.
@@13612 Sure! You forgot about taxes, insurance, upkeep, and neighbors from hell! As a renter you can move!
Having money doesn't equate intelligence.
The inspection will only be as good as your inspector - get references!
That’s what my apartment landlord does paint over issues but if I’m buying a home it’s disgraceful to sell a home like a awful landlord fixes termites
Living in Washington DC is way to expensive.
When you graduate from DIY University.
Did you get it inspected???
Sometimes the inspectors are lazy or don't do their due diligence. I bet the flippers makes attempt to know many of these home inspectors and they get a cut from the deal.
It is not hard but not easy to get a reputable home inspector. Some states and cities don't even require the home inspector to have any kind of experience or take any test. Just apply for the license and that's it. Yet something else you need to find out depending where you live.
Bernie Sanders is right flipping should be banned most flipped houses are garbage for sale for quick profits I’ve seen my share way to many
Not true at all. I work for 4 different house flippers like carpenters and we all do our best, including electricians and plumbers.
@@zell863 lol sure your going to say that your part of the problem you think 🤔 I’m just running my mouth I’ve seen the other side to much of the bad that goes on and to be honest new home builders are not much better with the crap their putting out there and of course they will say the same thing it’s buyer beware
@@zell863 I think there should be a different word when quality work is done. Maybe call it “renovation” instead of flipping because flipping has a connotation of quick work done for maximum profit. I’m glad you work with quality people.
Should have had a home inspection + DC is one of those 99 year lease deals. No thanks.
It's actually easier to buy a house and rent it out then trying to flip a house.
Clippers should be held responsible somehow
This is such an awful way to treat your local community to profit off of raising housing costs that are already so insanely high and just yell at younger generations for being lazy and not buying homes
All this information is good IF it’s not a sellers market.
Exactly. Sellers were not accepting any offers if you wanted an inspection. Also, they would lose their minds if you were not paying all cash. Financing?... They would pass on you.
Pause for 2 minutes and read over the list at 1:08/1:09. Those code violations are relatively harmless and you could probably pull a similar list for any house you inspect lol. It doesn’t say anything about a bad foundation, heating or ac not working, busted hot water tank, no leaking roof, no structural damage. $100,000 to weather strip a garage door, put a bracket on a gas pipe, or install a handrail? They’re complaining that the new finished stairs have an extra centimeter or two between each other? That’s absolute puffery, seems like this channel likes to exaggerate and this homeowner care just wants attention.
Ask that homeowner how much of the $100,000 he spent since this video what shot. I bet $0 because he forgot since none of what he said actually bothers him.
The video also says the inspector called them.. they didn’t call him.. probably because nothing went wrong with the house. What inspector is so proactive to reach out to other homeowners that bought from the same flipper? One that’s got something personal against the flipper...
I work of a couple house flippers and guys that fix up and rent it. I'm carpenter. We all go out and do honest job and everything is checked by inspectors. I do not see reason to cheat people. Just go f out and do yours job properly.
they really are a money pit. our flipper cost us prob $20,000 in 3 years and that doesn't include what insurance had to pay never buy a flip again so frustrated!! we are looking to move as soon as possible-should've sewed the flipper! kharma is a bitch n hope it comes to him sooner than later
And do what? Scam the next buyer...?
Cameron i see you sis
They buyer sounded like a proper prat ! Caveat emptor...........ring any bells , ya bozo ?