There were so many responses that I kind of ignored the post, also you had not posted the link so I blew it off. I have some clients and they asked me to write up an offer on this home. We submitted the offer back in September or October as I recall. At that time they had already had several offers. My clients came in at the high 500’s and were told thanks but no thanks because they were FHA.
So not only was this a 600k purchase but it was done with all cash. This is neither a flip, nor any underhanded shenanigan sort of deal.
I do agree with you about flippers. There are more out there these days but they are not the bonehead breed. Most of the ones I see are guys that buy selected properties at trustee sales. Also I think we will see more portfolio purchases made from lenders in bulk and then either attempted to be resold or rented out.
