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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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