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The "new" house flipping - two related articles
invite response
2017 Mar 9, 9:50am 2,916 views 8 comments
Comments 1 - 8 of 8 Search these comments
1
Tenpoundbass
2018 Jun 17, 1:18pm
Tenpoundbass
2018 Jun 17, 1:18pm
New towns, new townships, new Cities we need new turnips the old ones have lost all of their blood.
When I moved to South Florida they were creating 2 new towns a year from about 85 through 97. That building boom just didn't happen it was because there were towns made for them. Towns are filled in on the cheap they need to get up and running and generating tax revenue. Where has developed gated communities in existing towns are a pure promise of Gold. Each one of those townhouses already have a set determined price, and in most cases are pushing the boundaries on existing highs.
When I moved to South Florida they were creating 2 new towns a year from about 85 through 97. That building boom just didn't happen it was because there were towns made for them. Towns are filled in on the cheap they need to get up and running and generating tax revenue. Where has developed gated communities in existing towns are a pure promise of Gold. Each one of those townhouses already have a set determined price, and in most cases are pushing the boundaries on existing highs.
3
Strategist
2018 Jun 17, 3:32pm
Strategist
2018 Jun 17, 3:32pm
Feux Follets says
There could be another reason why so many homes are available for house flipping. My opinion......the lack of sub prime loans. If a home in bad shape needs a lot of fixing up, homeowners with no cash and bad credit would get subprime loans to fix and sell. Now they are forced to sell to a middle man who will end up with a poor homeowners equity.
Is it fair? Subprime loans played a part in saving a poor homeowners from foreclosure and flippers.
For those interested in getting the deals, here is a target market:
1. Homeowners who have owned their homes for 20+ years.
2. Homes that are owner occupied.
3. Homeowners who have not refinanced in the last 10years.
4. Homeowners who are behind on their taxes or mortgage payments.
5. Areas where home prices are at record highs
6. It's a secret.
7. It's a secret.
Enthusiasm for flipping, the practice of buying property to renovate and sell at a profit, is surging. In 2017, Americans flipped 207,000 single-family homes or condos, hitting an 11-year high, according to ATTOM Data Solutions, a real estate data company. And real estate brokers, designers and contractors credit the popularity of reality TV, specifically scrappy, do-it-yourself flipper shows, with encouraging this new generation of investors.
There could be another reason why so many homes are available for house flipping. My opinion......the lack of sub prime loans. If a home in bad shape needs a lot of fixing up, homeowners with no cash and bad credit would get subprime loans to fix and sell. Now they are forced to sell to a middle man who will end up with a poor homeowners equity.
Is it fair? Subprime loans played a part in saving a poor homeowners from foreclosure and flippers.
For those interested in getting the deals, here is a target market:
1. Homeowners who have owned their homes for 20+ years.
2. Homes that are owner occupied.
3. Homeowners who have not refinanced in the last 10years.
4. Homeowners who are behind on their taxes or mortgage payments.
5. Areas where home prices are at record highs
6. It's a secret.
7. It's a secret.
4
Strategist
2018 Jun 17, 3:41pm
Strategist
2018 Jun 17, 3:41pm
Just yesterday I received a postcard from a flipper. His mistakes:
1. Property is not owner occupied. It's rented.
2. Property is not behind on anything.
3. The postcard was dull and boring.
The guy who sent it is wasting his marketing money.
1. Property is not owner occupied. It's rented.
2. Property is not behind on anything.
3. The postcard was dull and boring.
The guy who sent it is wasting his marketing money.
6
HowdyThere
2018 Jun 17, 7:04pm
Right now I hate flippers. They infested a market where I need to live, driving up rent and sale prices based on their demand, not end users. I'm sure it's temporary, but that doesn't help me now. I can't see where efficient market theory applies in this case.
8
Strategist
2018 Jun 18, 1:31pm
Strategist
2018 Jun 18, 1:31pm
HEYYOU says
Do you want a new car or not? You will need Mo'Money.
"Mo' Money! Mo' Money! Mo' Money!" Is this society's only goal?
Do you want a new car or not? You will need Mo'Money.
Americans are flipping the oldest houses on record -- and making the most money. Record returns on investment as flippers move from the foreclosure market to properties in need of upgrades. In 2016, the median age of a flipped home was 37 years, according to a report out Thursday from Attom Data. That’s the oldest in the nearly two decades that Attom has tracked such data, and about double the median age of homes flipped before the downturn.
Full Article: http://www.marketwatch.com/story/aging-homes-and-deferred-maintenance-make-for-record-home-flipping-margins-2017-03-09
Buyer beware: Those picture-perfect flipped homes can be masked money pits. Some flippers are turning historic homes into modern, hybrid treasures, but others are slapping cosmetic fixes on truly troubled properties, ignoring mechanical and structural issues. For more unsuspecting buyers, that move-in-ready dream home can quickly flip into a nightmare.
Full Article: http://www.cnbc.com/2017/03/09/buyer-beware-those-picture-perfect-flipped-homes-can-be-masked-money-pits.html
#housing #investing #flipping