Flip

Definition

The practice of buying a terrible house, slapping on some gray paint and vinyl plank flooring, then selling it for twice the price. Thanks to reality TV, every person with a hammer now considers themselves a real estate mogul.

Example Usage

"I flipped a house in six months. And by flipped, I mean my finances did a complete 180 in the wrong direction." - A first-time flipper

Related Terms

Intermediate

deal fatigue

The emotional and mental exhaustion that sets in during prolonged negotiations, causing parties to make concessions just to end the process. It's why closing dates keep getting extended and everyone starts hating everyone else.

🏠 Real Estate

Intermediate

drip pricing

The practice of advertising a low base price for a property while gradually revealing additional mandatory fees throughout the transaction. The 'budget airline' approach to real estate pricing.

🏠 Real Estate

Beginner

vacancy rate

The percentage of rentable space sitting empty and generating zero income, serving as a referendum on your property's appeal and your pricing strategy. Low is good; high means you're bleeding money.

🏠 Real Estate

Intermediate

cloud on title

Any claim, lien, or encumbrance that impairs the property's title and creates doubt about legal ownership. Like a stain on your property's permanent record that needs bleaching before you can sell.

🏠 Real Estate

Intermediate

rent-back agreement

An arrangement where sellers continue renting their former home from buyers after closing, usually for a short period. It's the awkward transition period where you're both landlord and confused.

🏠 Real Estate

Advanced

pocket listing clause

A contractual provision allowing agents to market properties privately before hitting the MLS, theoretically to preserve privacy but occasionally to preserve the agent's double commission. The VIP room of real estate.

🏠 Real Estate

Translate This Term

See “Flip” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

Try the Translator

Share This Term

Post on X Share on Facebook Share on LinkedIn

Discover a Term

Beginner

No nut November

An annual internet challenge where participants abstain from masturbation for the entire month of November, supposedly t...