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LSDefine

Simple English definitions for legal terms

flipping

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A quick definition of flipping:

Flipping is when someone buys a property for a low price and sells it quickly for a higher price. They usually make improvements to the property before selling it. This can be risky if the market suddenly goes down, but it can be safer if they improve an undervalued property instead of relying on the market. Illegal flipping is when someone buys a property and quickly sells it for a higher price without making many improvements. They try to sell it as fast as possible to make a big profit.

A more thorough explanation:

Flipping is a real estate investment strategy where someone buys a property at a low price and quickly resells it at a higher price. The goal is to make a profit by buying low and selling high.

Legal flipping is when someone buys a property, makes improvements to it, and then sells it for a higher price. This is a popular strategy in hot markets where property values are rapidly appreciating. By improving the property, the person can sell it for even more than they bought it for. For example, someone might buy a run-down house, fix it up, and then sell it for a profit.

Illegal flipping is when someone buys a property with the intent to quickly resell it at a superficially increased price. The goal is to make a profit without making any improvements to the property. This is illegal because it involves fraud and deception. For example, someone might buy a house and then quickly resell it to an unsuspecting buyer for a much higher price, even though the house hasn't been improved in any way.

It's important to note that illegal flipping is different from legal flipping because it involves deception and fraud. Legal flipping involves making improvements to a property to increase its value, while illegal flipping involves tricking someone into paying more for a property than it's worth.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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