Many people surviving in blocks found specified leaflets in their mailboxes. These are handwritten invitations to sale the apartment, frequently signed by the young couple, with added cordial greetings, wishes of a good day and friendly drawings of cottages, suns, smiling faces, etc. The full looks like a very encouraging offer, but the end consequence may be disappointing. The fact is that there are usually flippers behind specified incentives, and their trap is easy to overlook – warns legartis.pl.
These are frequently marketing tricks to appear to be sympathetic proposals, but reality can be completely different. What looks “colored” and friendly at first glance may be a trap for innocent people wanting to sale their apartment. Those individuals, believing in the authenticity of the offer, may unconsciously find themselves in the hands of those who intend to exploit their deficiency of cognition or inexperience in the process of selling the property.
What's a real property flipping?
Investment in real property has become increasingly popular through a strategy known as "flopping". It's a process where an flat is bought cheaper to be resold more expensive. This operation can make crucial profits, even tens of thousands of zlotys in 1 transaction. Flippers actively search opportunities in the secondary market, frequently leaving distinctive flyers in letterboxes.
Magdalena Milert, an architect and urban planner, late published a informing on her social media. She wanted to inform people not to entrust her property to people practicing flips. Why? due to the fact that frequently these flippers effort to exploit the ignorance of people who are not acquainted with the market, which can lead to disadvantages for them.
People fooled by flippers
Aneta from Warsaw described on the Virtual Poland portal the past of her grandmother, who sold a 70-metre flat in 1 of the most desirable districts of the capital for 3⁄4 of its marketplace value. The household found out about it after the fact. The reason for her grandmother's decision was her bad wellness and her willingness to supply financial support for the daughter she was planning to decision to. It's painful that she lost so much money.
It's like a dream, but unfortunately reality. Grandma didn't realize she was moving into frauds. Aneta says, “I don’t know what else to call people who usage older people in this way.”
For Marty's parents (name changed) the flippers went even further. erstwhile parents called the authors of the flyer with an interest in selling the apartment, they pretended to be curious in buying and then placed an announcement of selling their place. This led to a court case that Marty's parents were fortunate to win. Turns out the flippers just wanted to know the price so they could profit from it.
A lucrative interest
The authors of the article “The impression of flipping on the Polish housing market” present the extraordinary cost-effectiveness of the flipping process. In their text, they point out that transactions of this kind can lead to an increase of up to 2⁄3 in the price at which it was purchased by a individual dealing with flipping. Taking into account the cost of renovation or reconstruction, it is estimated that the profit in this process is around 20% per year, although it may be even higher. The authors of the survey note that as early as 2017, flippy accounted for 3% of all sold housing, and after 4 years there was an increase to about 6%.
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Secret flyers in mailboxes. Don't be fooled.:
