That’s how they make their living. So they have a rental in Poway, and one in Palm Springs. Both are cash flow positive, and a little cash left over.
They make $70K/year flipping properties, maybe hoping to eventually hire a crew and increase that? It’s a lot cheaper to live in Phoenix, and they can live for that. Plus he is doing what he loves, so he is happy.
But I think this is not a sustainable business. I don’t think they will keep finding properties undervalued by $60K each. Even if they did, by the time they fixed it up, the market is down more, and it is undervalued by only $20K or $30K.
They are in denial, as is my friend the RE lawyer. So here wer have people actually in the business, as is murray, who are in denial!!! It boggles the mind. The masses are completely unaware of what is about to happen, if the investors and RE lawyer don’t even know.
That is the fascinating part of the story, the denial among investors.
