Real Estate Flip

Definition

Buy a property, slap some paint on it, overestimate its value by 40%, and sell it to someone with more money than sense.

Example Usage

We picked up that house for $200k and flipped it for $380k in six months.

Source: Real estate investment terminology

Related Terms

Advanced

assemblage

The art of secretly buying adjacent properties to combine into one larger, more valuable parcel—like playing real estate Tetris with someone else's neighborhood. It's why some buyers use LLCs to hide their acquisition strategy.

🏠 Real Estate

Intermediate

CC&Rs

Covenants, Conditions & Restrictions—the rulebook that HOAs use to control your life in writing.

🏠 Real Estate

Intermediate

buildout

The process of customizing and constructing interior spaces to meet a tenant's specific needs, transforming empty commercial shells into functional offices, restaurants, or retail spaces. This construction phase involves everything from framing walls to installing specialized equipment, typically negotiated between landlords and tenants with someone inevitably paying more than expected. It's when architectural dreams meet contractor reality and budgets start sweating.

🏠 Real Estate

Advanced

appurtenant

A fancy legal term for 'stuff that comes with the property,' particularly easements that transfer with the land rather than staying with the owner. It's the real estate equivalent of 'batteries included,' except it's more like 'right-of-way for your neighbor to cross your lawn included.' Lawyers love using this word to make simple concepts sound sufficiently billable.

🏠 Real Estate

Intermediate

highest and best

A seller's request for all interested buyers to submit their absolute top offer by a deadline, usually because multiple lowballers are circling. It's the real estate version of 'final answer' from Who Wants to Be a Millionaire.

🏠 Real Estate

Intermediate

Scullery

A small kitchen or room in a house where dishes are washed and kitchen work is done, typically a subordinate or service area in larger households. Common in British domestic architecture, it sits between the main kitchen and other rooms.

🏠 Real Estate🎓 Education / Academia

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