iBuyers. We’ve all heard of them. Opendoor, Offerpad, even Zillow briefly tried their hand at buying houses through their website. These days, the skepticism is rising as to whether these once behemoths can continue electronically buying houses and weather the storm their stock prices are in the middle of. However, in a Atlanta, GA one small site with big asperations is getting a lot of attention.
Flipicity.com, a company that only buys homes from other investors is offering a fresh take on the iBuyer model. It seems Flipicity is buying homes from other investors, even before those investors can close escrow. In fact, they don’t buy from the general public, at all.
Co-owner and co-founder Josh Paul says, “There is an entire secondary market for real estate that few people know about. Flipicity offers a place for local suppliers with off market properties that are already under contract to sell those houses quickly to make a small profit and go on to their next deal.”
Flipicity then takes those homes and fixes them and sells them to large institutional landlords, adds them to their own portfolio, or resells them to local investors that have been hurt by the shortage of inventory that has plagued the market in recent years.
On source said that “Flipicity.com is out here creating win/win/win scenarios.” One thing is for sure, at a time when traditional iBuyers are taking a beating and facing tough decisions about the future of their acquisitions, Flipicity, is going full steam ahead.