[quote=sdrealtor][quote=ocrenter][quote=sdrealtor]The point of what he does for a living is that he is not a professional flipper and we cant be certain it was intended to be a flip at all. Something may have happened in his life that necessitated this.[/quote]
true. but again, I think this clearly demonstrates the most vulnerable class when it comes to RE purchases are the upper middle professional class.
The upper class are so wealthy that a wrong purchase here and there really doesn’t hurt. A lot of them are shrewd business people that are well tuned to cutting their losses early. They make a wrong move and they simply cut the cord early. On the flip side, the lower class are so poor that they can enter and exit a wrong transaction and lose nothing.
But the professional class have the ability to get loans valued so high up that losses can be crippling for years to come. And most of this class are not so business savvy that they are able to cut the cord and move on. Rather, they struggle along and try to fulfill their contracted obligation and end up losing BIG.[/quote]
