Is Flipping Property Legal

Performance Property Real Estate Question

Q: I heard someone say that flipping property is illegal. Is that true? Marisol, West New York, NJ

A: Flipping property buying property short term with the intention of reselling it later for a profit–this is perfectly legal. Fraud is illegal. Artificially inflating a property’s value by submitting false appraisals or using straw buyers is fraud and is illegal. Concealing a property’s defects when you sell is also illegal. Falsely claiming renovations were completed in order to increase a property’s value when you sell is also illegal. Flipping property is legal but engaging in fraud within a real estate transaction is illegal. Thanks for your question, Marisol.

For more real estate tips and information, visit my blog at geraldlucas.com.

Testimonials

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Vaughn | Westfield, New Jersey

“Good afternoon, Gerald, I appreciate you for staying consistent and helping me with my mortgage lender for the last few months. The free guide you gave me helped us figure out the right path to take. I finally got all the money to make my loan current by the end of the week.”

Stephen Brunson | Plainfield, New Jersey

“Sir Gerald Lucas..my Knight who rescued me from the prison of Rushmore. At last I feel freedom to stop worrying about keeping myself financially afloat. You came into my life and gave me peace of mind. I will always remember your kindness and generous spirit. You are daily in my thoughts and prayers. May your gratuitous services to me be The Blessing it was,and may you be rewarded with many Blessings in return. I prayed to God for help and He sent YOU. Much love.”

Mary Elizabeth Robinson | Wilmington, Delaware

“Hi Gerald I just want to take this moment to thank you and express my gratitude for a job well done. When I thought that everything was lost you appeared and delivered hopes. Your professionalism and endurance are out of this world. Thank you thank you. I will always be grateful.”

Berkis Castro | Clifton, New Jersey

“Thank you so much for helping me. My property was haunting me for quite sometime. We tried for so long to sell but couldn’t. My family and I never thought we would resolve this problem so easily, but you facilitated the whole process and made it swift and painless. We can’t thank you enough for this.”

Sal Rizzo-Cascio | Jersey City, NJ

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Bridget Hieronymus | Jersey City, New Jersey

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Samuel Manoharan | North Bergen, New Jersey

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Gita Gorji | Hoboken, New Jersey

“Our loan modification was finalized. Got all the documents. Even got legal documents stating that foreclosure proceedings were cancelled. Our rate went from a 4.75 to a 3.4 and our mortgage payment went down almost $200 a month. So all is good. Thank you so much.”

Crystal | Totowa, New Jersey

“Finally the bank called me and said that my loan modification was approved! I thank you so much for your help it really meant a lot to me...I really appreciate you. Thank you Thank you Thank you”

Camille Perry | Newark, New Jersey

“Hey Gerald wanted to give you a heads up that they offered me a loan modification. Thanks for all your help!"

Robert Evans | North Arlington, New Jersey

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Carol Cunningham| West Orange, New Jersey

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Iradys Rivero| North Bergen, New Jersey

“At this point, Gerald, you are the only person I can trust. I appreciate all your efforts to assist me."

Deborah Dowe| Plainfield, New Jersey

“I want to thank you for helping me to get the courage to work on this problem because I didn't want to face it. Your help with the phone call to the mortgage company & other assistance was so appreciated. Thank you so much."

Evelyn Rudnicki | Rochelle Park, New Jersey

“I'm not trying to be a pain in the neck but I would like to thank you for your advice. I think things are going to work out for me. I did exactly what you told me and I think the mortgage company is going to work with me. I appreciate your advice. You are a Godsend. The world needs more people like you. Thank you and God bless you."

Jimmy Armstead | Roselle, New Jersey

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Virgilio Rodriguez | Paterson, New Jersey

“I followed the instructions Gerald from Performance Property gave me and I proved to my lender that I can pay back my mortgage.”

John Nikoe | Linden, New Jersey

“God bless you.”

Ravinder Thota | Jersey City, New Jersey

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Jim Armstead | Roselle, New Jersey

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Amoy Frost | South Orange, New Jersey

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Sabur Abdul-Wahid | Budd Lake, New Jersey

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Dion Lowe | Rahway, New Jersey

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Melody Melendez | Elizabeth, New Jersey

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Amoy Frost | South Orange, NJ

“I appreciate all your help from the beginning and throughout the process. Thanks to you I was able to refinance and keep my house.”

David Brown | Rahway, New Jersey

“Thanks Gerald...I appreciate the time and effort you put in to this. You never gave up on it and I get my life back. I am grateful for everything. Thanks again.”

Mariano Arocho | Teaneck, New Jersey

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Derek Thompson | Jersey City, New Jersey

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Latanya Blake | Clifton, New Jersey

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Nina Knox | Livingston, New Jersey

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Maria Castillo | Jersey City, New Jersey

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Bassem Gayed | Jersey City, New Jersey

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Mattie Phillips | East Orange, New Jersey

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Lloyd Isaac | Jersey City, New Jersey

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June Thomas | Hillside, New Jersey

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Donyea Hoffman | Jersey City, New Jersey

“Hey Gerald. Thank you, Sir! Appreciate your help and everything you’ve done. Much appreciated."

Chirag Patel | Jersey City, New Jersey

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Hope Thompson | Plainfield, New Jersey

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Arielle Wright | Roselle Park, New Jersey

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Reggie Shivers | Jersey City, New Jersey

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Randy Deleon | West New York, New Jersey

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Luzy Calafat | West New York, New Jersey

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Wesley Shi | Bayonne, New Jersey

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Nigel Cooper | Hackensack, New Jersey

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Phyllis Latella | Cedar Grove, New Jersey

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Julia Bykova | Fair Lawn, New Jersey

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Thomas Vitolo | Union City, New Jersey

"Just wanted to thank you again and let you know I do have my house back and was able to successfully stop the foreclosure."

Barbar Pagan | Kearny, New Jersey

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Alphonse Onove | Paramus, New Jersey

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Dennis Cunha | Clark, New Jersey

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Marie Romeo | Bayonne, New Jersey

"Thank you so much for your time. I really appreciate you sharing your knowledge and expertise with us."