flip

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flip

To buy low and sell high in a fairly short period of time;sometimes associated with predatory practices such as securing an option on property about to be foreclosed and then exercising that option only if able to find a purchaser who will pay enough to generate a profit. In the meantime,the consumer cannot sell to anyone else.

• Condo flipping is accomplished through buying reservation rights in condos to be built in the future, and then selling those rights, not the actual condo, shortly before project completion. There are many Web sites devoted to nationwide markets for condo flipping.

• House flipping usually refers to the practice of buying a home at a price substantially below market because of the need for repairs and then making the renovations and selling in a short period of time, at a substantial profit. Acquisition and renovation is typically financed with a mortgage note due in six months. The practice is risky for those unfamiliar with construction, because delays can be catastrophic.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
At McDonald's, many individuals who began flipping burgers and frying french fries now own several restaurants.
"You don't want to take someone who's flipping burgers one week and put them the next week on a $150,000 press with an $80,000 tool and tell them, 'Don't break it,'" he says.
Even ground beef that's ten percent fat (by weight) has 11 grams of fat per burger (see "Flipping Burgers").
It suits her that Adam is only passing through; his job as a cook at the High-Ho is temporary, though he knows more than flipping burgers.
Pictures and videos of the band members flipping burgers and playing with children quickly went viral.
THE new face of Burberry shot to stardom after being spotted flipping burgers, it emerged yesterday.
Now they spend their days having a lark for funny pictures, flipping burgers and kissing babies, or kissing burgers and flipping babies, it's all one to them.
Many a would-be pop star reduced to flipping burgers would give anything to be where you are at.
AUSTRALIA Twenty20 captain George Bailey has been told he should be glad he is not "flipping burgers at McDonald's" as a proposed multi-million television rights deal for cricket Down Under became personal.
He starts work at the Burger Bar, though not as a manager as Jude tells Turner and Edna; he's flipping burgers. Later, Laurel finds out the truth and the vicar is fired for stealing buns.
It's not every day you'd catch the leader of the free world flipping burgers, but that's exactly what happened when the Obamas met the Camerons during their UK visit last week.
It has led to a warning that thousands of young people fresh from university could end up flipping burgers.