Some Reporting On House Flipping

1 Like

Cool.

Now, flippers aren’t tapping old-fashioned mortgage financing, but relying more and more on new types of lenders. This new breed of financiers, some of which crowdsource their funding, offer loans specifically for flippers. Examples include Patch of Land, RealtyShares, and Asset Avenue.

Toxic CDO in disguise?

From that city up North again…

http://www.king5.com/money/markets/real-estate/house-flipping-market-becoming-saturated/433942411

1 Like

Only in Seattle? Probably in many other cities too. We’re watching a bubble in progress, how high before it bursts?

So, is wise that Jil deleveraged. Safety first. Plenty of time to make money when the bubble bursts. My leverage is very low, so I am not worry. Would refinance to buy in the cheap when there are blood everywhere.

1 Like

However it could be another 10 years before it finally bursts. And the bottom of that bust might still be much higher than today’s prices.

1 Like

Uh, you cats getting lazy???

Nothing to buy…

Here you go… Handyman Special!! :slightly_smiling_face:

https://www.redfin.com/CA/Fremont/4126-Ameca-Ct-94536/home/1757383

another one

https://www.redfin.com/CA/Sunnyvale/799-Peekskill-Dr-94087/home/651182

1 Like

Not what I’m seeing mid-pen. Flips going $500K over previous sale.

examples?

Ok. I’ll stand slightly corrected… The one I thought was $500K diff was flipped in 2016, but here’s some from this year:

Sold $1.3M, flipped and they were asking $1.9M (MLS) but didn’t sell (weird layout). See realtor.com link:

(https://www.redfin.com/CA/Redwood-City/2032-Idaho-Ct-94061/home/1575483)

$500K: https://www.redfin.com/CA/Redwood-City/1615-Maddux-Dr-94061/home/2020327

$900K: https://www.redfin.com/CA/Redwood-City/143-Oakwood-Dr-94061/home/2055308

TBD: https://www.redfin.com/CA/Redwood-City/2673-Ohio-Ave-94061/home/1767922/
Sold $1.5M, listed at $2.2M and only 4 days on the market right now. I believe they’ll get at or over $2M.

Also watch for this property when it comes back on:

https://www.redfin.com/CA/Redwood-City/1607-W-Selby-Ln-94061/home/2030025

Will be interesting to see if it is flipped, razed, or what…

This house was not so bad originally. Nevertheless got flipped. https://www.redfin.com/CA/Redwood-City/735-Harrison-Ave-94062/home/1496978?utm_source=myredfin&utm_medium=referral&utm_campaign=ios_share&utm_nooverride=1&utm_content=link

1 Like

Good catch!

Not too shabby at age 31…

1 Like

Yes… I’m a late bloomer compared to this one… :wink:

1 Like

I was flipping at 21… Thus guy is an old man… lol

3 Likes