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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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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