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Property Flipping
Google results 2,410,000 for the words 'property flipping ' generated in (0.07 seconds)
What is property flipping?
Property "flipping" occurs when a property is resold for a considerable profit at an artificially inflated price shortly after being acquired by the seller. - This is a different definition than the one used by book publishers, television producers and some web sites.
Illegal flipping - If it makes me rich quick, how could it be illegal? What about all those books and web sites about flipping? Could flipping ever be a bad thing? Should I be afraid to say FBI on the internet?
Flipping far from easy - No way, I have seen the infomercials and read the books, and the web sites, it is easy!
Flip your house without losing your shirt - wow! you mean I could lose something?
Selling books about property flipping is so lucrative that the writers don't have to flip properties to get rich, or maybe it is so easy that the flipper has plenty of time to write. The web site even talks about 7 deadly sins. Make sure the children are out of the room when you visit this web site.
http://www.flipping-houses.com/
Not sure what this guy is selling but it must be something. You really should visit the web site because it says "Here Are 17 Good Reasons Why You'd Better Check This Out Now Or Risk Really Missing Out And Kicking Yourself Later" If you don't have time to visit the web site PLEASE make sure you remove your shoes before you kick yourself.
http://www.realestateinvestingbrain.com/free-200dollar-course.html
Be a bird dog? This is about getting rich with no money, credit or experience. Gee making big bucks off of real estate is just so easy everyone should do it!
Shortly after writing this post I found a "cheese free" real estate investors blog. This one is worth a look. http://www.fliperati.com/
Be careful out there!
This article was nominated for the magnificent 7 - A contest being help on the Real Estate Undressed Blog.
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You did a great job compiling these links Teresa. Yes, a lot of folks would have you think it is easy money flipping properties, but there certainly is a lot of work and risk involved.
Good to have a great Real Estate agent on your side to provide you with up to date market info to help make wise decisions when choosing a property.
But, oh so rewarding when it all pays off!
On top of flipping, stated income loans are a large reason why home prices have doubled in the past 5 years. My name is Steven Krystofiak, President of the Mortgage Brokers Association for Responsible Lending. www.mbarl.org I have a letter in a word document form that highlights the risks of the current loan industry unrealized by regulators and economists alike, mainly due to stated income loans.
Email me at contact@mbarl.org if you want me to send you a copy.
~ Steve Krystofiak
13 main points in the letter are;
1. Stated income loans are associated with fraud, and started to become popular in 2002.
2. Banks originate these loans because they are profitable and then sell them to reduce their risk.
3. Fraud is encouraged by the banks
4. Stated income loans help no one.
5. Exotic loans originated with stated income are now causing foreclosures or forcing homeowners to refinance into negatively amortized loans.
6. Stated income loans are why home prices have skyrocketed. They have caused a large demand in the US housing supply.
7. Banks have sold their loans and have already made their profit. Investors will soon realize stated income loans are too risky and stop purchasing them.
8. Almost anyone can get a stated income loan for $950,000.
9. Stated income loans cost consumers hundreds of dollars a year because of higher interest rates.
10. Stated income loans allow tax cheats to purchase homes easier.
11. Stated income loans are not always faster than fully documented loans.
12. Appraised values are often inflated. Underwriters are basing their decision on inflated home values, inflated incomes and inflated assets. The only “real” number is the FICO (credit) score. This is why underwriters have become focused on FICO scores.
13. Rules are not enough, they must be enforced.