Hawk I am not so sure I believe that. Given the underwriting standards of today, each additional home the guy purchases makes it harder and harder to get the next home. No way the guy is going to have 22 homes and a lender is gonna let him do this.

In my opinion after the second or third home it doesnt work. So what I think he may be doing is somehow concealing the homes by putting them in a corp or something of that nature. That way when he goes through underwriting it doesn’t show that he has all those homes.

Still your point makes sense. However alot of the investors we see at the sales are simply lackeys paid by the group of investors to make the offers. They get authorization to purchase for the corp. These corps are backed by lots of investors. These cases are cases of buy and flip as opposed to buy and hold. Not to say what the ratio is of new money to old money but I am sure there is a healthy mix.