Please Don’t Call It "Flipping"

From Buyincomeproperties.com

Fixer Uppers
Please Don’t Call It "Flipping"
By Dr.Phil Speer
Jul 7, 2005, 20:00

Some real estate investors who practice the technique of buying property for immediate fix up and resale call it "flipping houses." I have never liked this term, for it strikes me as a gimmick. It seems "flippant!" It sounds to me and gives me the impression of a crude reference to a very noble undertaking. Fixing up houses is fixing up America's housing! Even though the income can exceed anything else I know, I believe this is a profession of dignity. I think the process deserves reverence for helping people have good housing.

Maybe it’s because of how I view my work.

I find cheap houses in dire need of repair. I buy them at a fair market price for their condition. I have developed know-how savvy for repairing them and restoring them to very near their original condition, or maybe even better. Then I sell them at fair market value to someone who wants and needs good housing.

I take a house that has "No Class." And I transform it into "First Class!"

And because I have created a Dream House, an Ideal House, a Doll House, and a Model House, I am proud of my work.

I try to create a finished product that I myself would enjoy as a home. I try to be fair to the seller when I buy my cheap house. I try to be fair to the buyer when I sell my remodeled beauty. Therefore, I look at my profession as a grand endeavor.

The profession of dignity

Yes, you too can become a millionaire at this venture in a very short time. It really doesn’t matter if you equal or surpass my own time-table of reaching this goal in only three years. After you fix up just a few properties following the proper guidelines, you too will probably pocket more money than you have had in all your years. Then, "becoming rich" can be the extension of your ambitions.

But you only need a few cheap houses to provide relief from those years of working so hard for so little.

You can make money buying raw land, and cutting it into tracts. You can make money buying rental properties, and becoming a landlord. But in my opinion, you will make the most money quickest and with the least amount of effort and frustration by buying cheap little houses and fixing them up into someone’s perfect house.