House flipping gets an expensive twist

Luxury-home flipping is heating up in affluent neighborhoods as well-heeled builders and investors seek better returns than they get on other investments.

Fed up with severe water damage to her home and embroiled in litigation with contractors and real estate agents, superstar singer Rihanna put her Beverly Crest mansion up for sale last year for $4.5 million.

Source: http://feeds.latimes.com/~r/latimes/business/~3/bxpzWX__Dpc/la-fi-luxury-flipping-20121123,0,5572924.story

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