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Reality TV shows captured the entrepreneurial imaginations of everyday people that anyone with cash and determination can turn a profit remodeling blighted homes. While profitable home-flipping tends to be more difficult than celebrities make it seem, one niche group appears to have a secret recipe for success — Flipsters.
The term “Flipster” is a conflation of “home flipper” and “Hipster.” What has escaped the casual eye of those outside the Hipster community is they are not merely artsy young people embracing the latest counter-culture. In fact, Hipsters tend to have a strong entrepreneurial nature that plays out within the bounds of their neighborhoods. Flipsters are an extension of that spirit who focus on turning a profit flipping homes in these neighborhoods. Of course, this begs the question: How are Flipsters different, and are they good for your property values?
The Flipster recipe for success involves going after downtrodden properties. If you recall a Hipster neighborhood a decade before their arrival, it was probably in decline and rife with crime. Unlike the stars on TV that seek that one bad penny in a jewel neighborhood, Hipsters are all about gentrification. They are inclined to buy depressed single and multifamily properties and renovate.
The initial wave of Hipsters most likely plan on setting down roots among their brethren. Soon after, Flipsters come in to scoop outlying homes knowing Hipster sprawl may be imminent. In this sense, Flipsters work in the opposite direction as traditional home flippers.
But their sense of security comes from being cultural insiders and a willingness to rent or wait for cash-flush community members to buy the property. That may sound like a simple enough way to flip homes for onlookers. However, the Hipster community tends to be tight-knit, and the homes must adhere to a loose ideology.
If you watch Reality TV home-flipping shows, then it’s apparent that trendy, shiny, and new are game-changers. For the Flipster, old and re-purposed are the tricks of the interior design trade. Shopping for items at Good Will, junk stores, or the city landfill are more likely to yield the materials necessary to create a neat interior or exterior.
Smart technology, quirky gadgets, and artsy vintage stuff are also signatures of a retro Hipster living space. If you’re considering mapping out the Flipster method and replicating it, think again. Insiders tend to shy away from non-Hipsters, which could leave you holding on to a property too long and taking a loss.
The short answer is: That depends. If you own a property in a depressed area that Hipsters have begun to gentrify, chances are you can move it. The Catch 22 is that you would probably need to be an insider to get top dollar. However, it may be in your best interest to hire well-known Flipsters to renovate the property in keeping with the expanding scene. Making a deal could earn you increased resale value or at least a very cool space of your own.
Greetings from beautiful Naples Florida! Having grown up in Siberia, in a challenging environment I have a deep appreciation of our wonderful Southwest Florida climate and lifestyle. The journey that led me here has fueled my drive to be the best at everything I attempt. My natural enthusiasm for my work is contagious, and clients know that I am "giving my all”. My deep dedication to my family that includes my two adult children and my four fabulous grandchildren. My family reminds me every day that considering family first in one’s life requires an exceptional "home base” for everyone to gather for events and holidays. Everything in my life has equipped me to be a fabulous realtor at Premiere Plus Realty. Naples is cosmopolitan and international harmonious environment, positive energy and lifestyle. As a certified yoga instructor, I believe in and understand the importance of balance in one’s life. It’s through my yoga practice that I have achieved peace and harmony in my life. It’s this peace, harmony, and enthusiasm that I wish to pass to my clients. My goal is to continue to serve you!!! It is my mission! It is my goal! Let’s get to work together! Natalia Realtor, specializing in Residential sales, New construction, seasonal rental, VA homes, First home buyers, listings, sales. Member of Miami and Stella MLS. I service Naples, Bonita Estero, Marco Island & Ft. Meyer's as well as SW Florida. I appreciate referrals and I help with referrals in other States.