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Old 04-03-2024, 05:23 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,345 posts, read 8,557,056 times
Reputation: 16679

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Quote:
Originally Posted by PAhippo View Post
I don't get it-if they could afford to buy a house to flip, they could afford a house. Right? What am I missing?
Some need the down payment. They will get hard money financing to do the flip short term. A lot of 1 year due loans. After some flips they have enough down payment. Keep in mind the flips might well be lower cost homes than what they want to buy.
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Old 04-06-2024, 06:06 AM
 
Location: Sandy Eggo's North County
10,291 posts, read 6,813,150 times
Reputation: 16835
House down the street sold for $1.5 last October. Flippers bought it and spent some money rehabbing it. I see it's back up "For Sale" at $2.2
We'll see where it ends up.
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Old 04-06-2024, 06:24 AM
 
106,566 posts, read 108,713,667 times
Reputation: 80058
flippers are just middle men in the market who benefit from the price a home is going to go to with or without them .


if i know a certain company invented a certain cure for something and act on insider information , that stock is still going to go to where markets take it , with or without me .

i may just benefit going along for the ride but markets ultimately decide price.

flippers can also provide liquidity when buyers or sellers are few like short sellers in markets serve a purpose to bolster prices on weak buy days as they may buy to cover short positions adding liquidity
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Old 04-14-2024, 01:49 PM
 
661 posts, read 832,364 times
Reputation: 840
Quote:
Originally Posted by creeksitter View Post
You are telling yourself BS. I get postcards every week on inhabited homes. I get postcards for my own home! The postcards say: are you tired of being a landlord? so they know it is occupied.

It's a predatory business and the flippers will throw the renters on the street because all they care about is their culture of greed.

The "wholesalers" are taught to lie to owners. I hear it all the time if I happen to pick up the phone but that's another issue.

I am in the business, nobody is giving their homes away, even the trashed homes many times are not priced right.

The postcards go off tax assessors anyone that has mailing address different that the subject address, they are more likely to be trashed homes by tenants. I am on over a dozen sites where sellers get listed on with those postcards and I bid on them all the time, most do not sell as they want more that an investor is willing to pay. I also loan money out to others for these projects and see what other buyers are getting, it's not what you think.

With the housing shortage flippers are needed to take unlivable properties and make them livable again, without them those homes remain unlivable and unused!
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