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Old 08-03-2012, 11:20 AM
 
11,715 posts, read 40,451,929 times
Reputation: 7586

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Have you heard the radio commercials for seminars on how to get rich flipping houses in 30 days? Did I wake up in 2005 this morning?
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Old 08-03-2012, 11:28 AM
 
Location: Santa Monica, CA
1,626 posts, read 4,014,679 times
Reputation: 742
There's a few shows on TV based on flipping foreclosures bought all cash from the bank. You can make money doing that but it's not exactly a low risk investment.
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Old 08-03-2012, 11:29 AM
 
Location: Bay Area
1,790 posts, read 2,926,874 times
Reputation: 1277
i see flipping going on in some of the markets i've been watching.
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Old 08-04-2012, 05:08 PM
 
Location: Declezville, CA
16,806 posts, read 39,945,786 times
Reputation: 17694
Shades of Armando Montelongo.
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Old 08-04-2012, 05:30 PM
 
11,715 posts, read 40,451,929 times
Reputation: 7586
Quote:
Originally Posted by Fontucky View Post
Shades of Armando Montelongo.
I remember that guy. I wonder what bridge he's living under now.
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Old 08-04-2012, 06:13 PM
 
Location: Declezville, CA
16,806 posts, read 39,945,786 times
Reputation: 17694
He's making movies.
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Old 08-19-2012, 01:51 PM
 
Location: In a house!
193 posts, read 309,850 times
Reputation: 80
Risky Business...
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Old 08-19-2012, 08:55 PM
 
Location: SW Florida
5,589 posts, read 8,405,261 times
Reputation: 11216
Oyy, I couldn't stand that Armando guy. Although I grew to love Jeff Lewis.

I was wondering that about flipping, too. I've seen a bunch of new reality shows based on flipping. Also, on "Million Dollar Listing" (based in LA), I'm seeing some homes being bought by flippers. I'm surprised it's back so soon. But I suppose even you only make 5 or 10%, it's way more than you'd get with a lot of other investments.
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Old 08-21-2012, 12:50 PM
 
Location: Chandler, AZ
5,800 posts, read 6,567,920 times
Reputation: 3151
It's never stopped folks, having been around for well over three decades at least; the exit strategy has merely evolved from 'buy and flip' to 'buy and hold' because the properties are so cheap and will be for years to come.
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Old 08-21-2012, 12:54 PM
 
Location: Bay Area
1,490 posts, read 2,678,872 times
Reputation: 792
If you have some cash, it's probably an even better investment now.

Buy some bombed out foreclosed POS roll some of your own capital into it putting in kitchen sinks, cabinets, working bathroom, etc, and turn around and sell it to someone else now that it'll qualify for FHA financing.

That's easy money all day long, it's just how many people are sitting on a down payment and nut big enough for renovations? That's the reason the delta can be so wide.
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