• Same story, different day...........year ie more of the same fiat floods the world
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House-Flippers Turn To The Crowd For Quick Cash. What Could Go Wrong?

Eyebone

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#3
'houseflippers' contribute greatly to the skewed prices of homes.

I would tar an feather them.
 

edsl48

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#4
Well it is 2 AM on Friday night here making me think it's perfect timing for a "Get Rich in Real Estate" post. With as little as 5,000.00 you can be a part of the newest real estate bubble building right now.
https://www.realtyshares.com/

(Full disclosure: I am going to sit this one out as I have done so many times in the past...but I'll be there at the foreclosure sales.)
 

Ensoniq

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#5
'houseflippers' contribute greatly to the skewed prices of homes.

I would tar an feather them.
Yeah we can't have free market decisions around here
 

Buck

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#6
Yeah we can't have free market decisions around here
It's the one Achilles's heel of capitalism
It's also one of the driving factors of capitalism
Greed

What to do What to do
 

Ensoniq

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#7
It's the one Achilles's heel of capitalism
It's also one of the driving factors of capitalism
Greed

What to do What to do
I'd call it acting in ones own interest rather than greed. But even if we call it Greeed, I'd argue so what.

No one is forcing a buyer to accept the flipper's price. And, the flipper is preventing blight by refurbishing and recycling older properties

It still takes a buyer and a seller to agree on a price (fair market value definition) for the transaction to occur.
 

edsl48

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#8
I saw a house bought for 75,000 by a flipper who put on a nice new front door, painted the cabinets white with new hardware and a new big box store carpet job. My guess is that overall the flipper has 83,000 at most. He put it on the market for 135,000 and he sold it for 130,000. Some of these flippers do pretty darned good but where in the heck are the banks? That house had to be appraised for mortgage reasons. The appraisers know what that house was bought and sold for but once again apparently they ignore the facts, package up a house mortgage to be sold to Fannie or Freddie and the cycle continues.
 

searcher

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#9
Not a "how to." Just one cat's story. Take it fwiw.

Why I spent $70,000 to learn REALESTATE!
Yak Motley


Published on Dec 23, 2017
I wanted to talk about what I learn by spending $70,000 on my first real estate investment property and why I dove into my first single family deal. You can only read real-estate books so long before you have to make a move! I learn better by doing not reading.

Follow me on Facebook and Instagram @yakmotley.
 

nickndfl

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#10
'houseflippers' contribute greatly to the skewed prices of homes.

I would tar an feather them.
Flippers add improvements and liquidity to the market. They take a risk when they leverage too high, but it's their choice. The way the collapse was handled in 2008 was dysfunctional.
 

keef

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#11
Flippers, dippers, quick buckers. Milk the system dryers.

This is still America. What happened to actually trying to produce something of value?


Not all of the ideas are winners, but at least they OFFER SOMETHING OF VALUE for the fiat.