Tour of 2967 E Franklin Ave – Nice-looking Flip House!
More and more listings are flip homes – homes that have been purchased by investors – often at the Trustee Sale – then quickly sold for a profit. Although some of the homes reflect the expertise of the flipper investor, such as this Lyon’s Gate beauty in Gilbert, AZ, buyer’s should always be aware that profits come first to the investor.
This home in Lyon’s Gate was purchased by an investor at the Trustee Sale. He has done a great job of making this home show like a model. But some flip investors get in over their heads, especially since homes purchased at the Trustee Sale are often purchased site unseen. The investor may cut corners to maximize profits and you may not realize the problems hiding behind the fresh paint, new carpet and granite countertops.
Flip homes can be a bargain – it can be like buying a foreclosure with all the fix-up already done. But take your due diligence seriously to make sure that serious problems have been addressed and you don’t have any expensive surprises awaiting you in your new home.