[quote=ucodegen]
These ignore carrying costs. I suspect they are using their own cash w/o using bank funding. This allows them to at least earn the ‘interest’ that would have been paid to the lender. …..
[/quote]
15M for 1500 houses, so they are doing 100K down for each house.
After a 50% price reduction of a 600K house, the price should be around 300K.
So, that is 33% down payment.
