T O P I C R E V I E W
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adower
Member # 5955
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posted
If so can i shoot you a pm?
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Luke87GT
Member # 21
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posted
The worst bubble burst in real estate history, millions in foreclosure inventory and short sales to be cleared in 2012-2013, 25% of financed loans underwater, and someone is flipping homes in Sacramento (a city hit particularly hard)???
Tell us more, what are the rest of us missing?
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WildFire532FB
Member # 1482
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posted
House prices still falling? I know the Government is saying its not but i know they are full of it.
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cees87drop
Member # 4066
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posted
In this market the smart thing is to buy low, real low, and keep to rent... flipping has past for now.
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v-town coupe
Member # 2771
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posted
quote: Originally posted by cees87drop: In this market the smart thing is to buy low, real low, and keep to rent... flipping has past for now.
true that rental property is where its at for now!
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Cobra 93-4992
Member # 4992
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posted
quote: Originally posted by Luke87GT: The worst bubble burst in real estate history, millions in foreclosure inventory and short sales to be cleared in 2012-2013, 25% of financed loans underwater, and someone is flipping homes in Sacramento (a city hit particularly hard)???
Tell us more, what are the rest of us missing?
There are a shit load of under priced homes that require work that conventional financing wont touch. People fuck these houses up when they are told to leave, or scrappers get ahold of all the copper in the homes. The banks would rather sell them at a deep discount than put their own money into rehabbing the home. Normal people dont have the cash to do this thats why its a good payoff but potentially risky endeavor right now. Risky being that once you run out of money, you're probably not going to get any financing to help out.
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9cobra7
Member # 2812
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posted
quote: Originally posted by adower: If so can i shoot you a pm?
This guy is asking for a pm and if anyone flips houses. ![[Roll Eyes]](rolleyes.gif) [ January 08, 2012, 09:41 AM: Message edited by: 9cobra7 ]
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adower
Member # 5955
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posted
Or is anyone a general contractor?
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SlowStockFox
Member # 1081
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posted
my frineds dad has made over 280k this year on 6 homes in sac/roseville area. so it can be done
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asskickn88
Member # 4957
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posted
We are currently house shopping right now and I can say there are a lot of flips out there right now. We actually made an offer on one this morning. We were working with a guy for a while who buys several houses a week at auction and flips them. The only reason we didn't end up using him was because nothing he was getting fit our needs. We are being picky about area and features, I can get an amazing house in Antelope if I don't mind the ghetto right around the corner. We decided on an older place in Fair Oaks on a big lot, nice quiet and established neighborhood. I can put you in contact with the guy if you want.
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adower
Member # 5955
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posted
quote: Originally posted by asskickn88: We are currently house shopping right now and I can say there are a lot of flips out there right now. We actually made an offer on one this morning. We were working with a guy for a while who buys several houses a week at auction and flips them. The only reason we didn't end up using him was because nothing he was getting fit our needs. We are being picky about area and features, I can get an amazing house in Antelope if I don't mind the ghetto right around the corner. We decided on an older place in Fair Oaks on a big lot, nice quiet and established neighborhood. I can put you in contact with the guy if you want.
Hey jeff! Check pms please.
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Mr.Lucky
Member # 1772
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posted
I house shopped for 2 years nearly before getting my house. You should see some of the houses I walked into. Missing all light fixtures, toilets, holes in walls, cat shit thrown onto the spackled ceilings. Sad 1 I saw, home owners were renovating before going under. Brand new granite counter tops, beautiful marble tile floors. They Took gorilla glue and hammer to every solid piece avail. Oh and the best one. Flushing concrete down every toilet. Lots of people were real unhappy.
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asskickn88
Member # 4957
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posted
quote: Originally posted by Mr.Lucky: I house shopped for 2 years nearly before getting my house. You should see some of the houses I walked into. Missing all light fixtures, toilets, holes in walls, cat shit thrown onto the spackled ceilings. Sad 1 I saw, home owners were renovating before going under. Brand new granite counter tops, beautiful marble tile floors. They Took gorilla glue and hammer to every solid piece avail. Oh and the best one. Flushing concrete down every toilet. Lots of people were real unhappy.
It's sad, they trash the house because they can't or won't make the payment and blame the bank because they purchased at the high end of the market. You don't see too many houses that are trashed now though, I do see missing stoves and smaller things. I went in one that was bank owned the other day that looked like someone sat in a bed for years smoking and throwing their butts and ashes on the floor, the carpet had thousands of burns and one wall had a 5 ft wide smoke stain from floor to roof.
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