Friends Don’t Let Friends Buy Flip Houses

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Excerpt: Once again, the ever intrepid Brad Brinke of Pro Craft Inspection Services brings us another cautionary tale of horror and woe from inspecting a “flipped house” that a homeowner client wanted to buy and hired him to inspect in Virginia Beach! A flip house is a house that someone (usually an investor) bought with the intent of selling and making a profit.  The usual method is to buy a house that is in poor condition and then make repairs and sell it in good condition.   However, that’s where the problems start.  If an investor wants to maximize his profit when he…