I am investigating properties in Baltimore (City and County) and the surrounding areas. I’m looking for a shorter commute for my spouse since I work remotely and it doesn’t matter where I live. We don’t have kids at home. Every time a house catches my eye, I check who owns it and when it was last sold, along with the price and other factors like crime rates and flood zones. I use this website to look up property data: SDAT: Real Property Data Search. I also try to figure out if permits were pulled for any work done using various internet sites. Lately, I’ve noticed a lot of houses owned by corporations, some with permits pulled and others where it was hard to tell. I’m getting really frustrated with the constant “greige” flips. Some of them don’t seem too bad at first glance, and they check off all the boxes we’re looking for. I know I can paint them any color I want, but I’m worried about serious issues lurking behind fresh drywall. I’ve heard so many horror stories from friends and others who bought flipped homes. I know to get an inspection since I’m not a first-time buyer, but I’m also aware that things can be missed. Neither I nor my spouse are handy, and we don’t want to move into a house that needs renovation. So my question is: is there really any such thing as a good flip? Do LLCs or corporations exist that actually try to renovate a home properly so that you won’t encounter a nightmare in six months? Or should I just stick with buying homes from owner-occupants and deal with whatever they have or haven’t updated in the house?
Flippers will always hide any and all costly fixes. It’s unnatural for them to spend money to fix something right and not hide it.
You’re buying from someone whose sole motivation was to buy cheap, do the least cosmetic work possible, and sell for as much as they can. You’re paying top dollar for what’s basically lipstick on a pig.
I personally would never buy a flipped house. It takes a bit more effort, but look for houses that need some TLC that are priced accordingly. You can hire renovation work to make sure it’s done right and as you want. That’s what we did for our last house.
@Jai
That sounds smart. I definitely want to avoid the bad remodel jobs I keep seeing.
I had a similar experience. One flipping company did a lot of work like new bathrooms and a roof, but when I got an inspection, we found water damage and foundation issues. Definitely dig in with a good inspector.
Yes, there are good flips. Some LLCs actually do quality work on older or outdated homes. It’s a few bad apples that spoil the reputation. Get good inspections and have a contractor check the property, and you’ll be ahead of the game.
@Dakota
That’s reassuring. I’ll make sure to get thorough inspections.