could it be …

[sdrealtor]

The flippers doing the vast majority of the transactions have made so much money they cant possibly be burned so bad they wil never flip again. These groups have done hundreds of transactions and made tens of millions in profits. When and if the tide turns they can easily afford to take the loss on their last round and retire very comfortably until they see the chance to play again.

[mercedes7]

[quote=sdrealtor]The flippers doing the vast majority of the transactions have made so much money they cant possibly be burned so bad they wil never flip again. These groups have done hundreds of transactions and made tens of millions in profits. When and if the tide turns they can easily afford to take the loss on their last round and retire very comfortably until they see the chance to play again.[/quote]

Really…is this anectodal information? I’m not talking so much about the professional groups as I am I am about the average Joe public (many with full time jobs) who have decided to flip real estate as a means to get rich quick. I can think of 3 people I work with. Two of those people have already gotten burned. Just met another last month who has decided to “invest” in real estate and has recently bought one rental property with the intent to purchase several others. His thinks he will make a lot of money eventually selling when prices “go back up”. It is this mentality I am referring to.

[mercedes7]

[quote=sdrealtor]The flippers doing the vast majority of the transactions have made so much money they cant possibly be burned so bad they wil never flip again. These groups have done hundreds of transactions and made tens of millions in profits. When and if the tide turns they can easily afford to take the loss on their last round and retire very comfortably until they see the chance to play again.[/quote]

Really…is this anectodal information? I’m not talking so much about the professional groups as I am I am about the average Joe public (many with full time jobs) who have decided to flip real estate as a means to get rich quick. I can think of 3 people I work with. Two of those people have already gotten burned. Just met another last month who has decided to “invest” in real estate and has recently bought one rental property with the intent to purchase several others. His thinks he will make a lot of money eventually selling when prices “go back up”. It is this mentality I am referring to.

[mercedes7]

[quote=sdrealtor]The flippers doing the vast majority of the transactions have made so much money they cant possibly be burned so bad they wil never flip again. These groups have done hundreds of transactions and made tens of millions in profits. When and if the tide turns they can easily afford to take the loss on their last round and retire very comfortably until they see the chance to play again.[/quote]

Really…is this anectodal information? I’m not talking so much about the professional groups as I am I am about the average Joe public (many with full time jobs) who have decided to flip real estate as a means to get rich quick. I can think of 3 people I work with. Two of those people have already gotten burned. Just met another last month who has decided to “invest” in real estate and has recently bought one rental property with the intent to purchase several others. His thinks he will make a lot of money eventually selling when prices “go back up”. It is this mentality I am referring to.

[mercedes7]

[quote=sdrealtor]The flippers doing the vast majority of the transactions have made so much money they cant possibly be burned so bad they wil never flip again. These groups have done hundreds of transactions and made tens of millions in profits. When and if the tide turns they can easily afford to take the loss on their last round and retire very comfortably until they see the chance to play again.[/quote]

Really…is this anectodal information? I’m not talking so much about the professional groups as I am I am about the average Joe public (many with full time jobs) who have decided to flip real estate as a means to get rich quick. I can think of 3 people I work with. Two of those people have already gotten burned. Just met another last month who has decided to “invest” in real estate and has recently bought one rental property with the intent to purchase several others. His thinks he will make a lot of money eventually selling when prices “go back up”. It is this mentality I am referring to.

[mercedes7]

[quote=sdrealtor]The flippers doing the vast majority of the transactions have made so much money they cant possibly be burned so bad they wil never flip again. These groups have done hundreds of transactions and made tens of millions in profits. When and if the tide turns they can easily afford to take the loss on their last round and retire very comfortably until they see the chance to play again.[/quote]

Really…is this anectodal information? I’m not talking so much about the professional groups as I am I am about the average Joe public (many with full time jobs) who have decided to flip real estate as a means to get rich quick. I can think of 3 people I work with. Two of those people have already gotten burned. Just met another last month who has decided to “invest” in real estate and has recently bought one rental property with the intent to purchase several others. His thinks he will make a lot of money eventually selling when prices “go back up”. It is this mentality I am referring to.

[sdrealtor]

Cold hard facts. I would guestimate that 80% of the flipping and probably more is being done by the pros and I’m not talking about SD R and his little group. I’m talking about large investment pools (I have spoken with two of the largest) that have done over 500 each in Southern california last year. I also know two individuals with teams behind them that have done close to 100 each last year. These guys buy the crap, fix em and flip em. They make 6 figures on most of them and their collective profits easily surpassed $100M last year.

[sdrealtor]

Cold hard facts. I would guestimate that 80% of the flipping and probably more is being done by the pros and I’m not talking about SD R and his little group. I’m talking about large investment pools (I have spoken with two of the largest) that have done over 500 each in Southern california last year. I also know two individuals with teams behind them that have done close to 100 each last year. These guys buy the crap, fix em and flip em. They make 6 figures on most of them and their collective profits easily surpassed $100M last year.

[sdrealtor]

Cold hard facts. I would guestimate that 80% of the flipping and probably more is being done by the pros and I’m not talking about SD R and his little group. I’m talking about large investment pools (I have spoken with two of the largest) that have done over 500 each in Southern california last year. I also know two individuals with teams behind them that have done close to 100 each last year. These guys buy the crap, fix em and flip em. They make 6 figures on most of them and their collective profits easily surpassed $100M last year.

[sdrealtor]

Cold hard facts. I would guestimate that 80% of the flipping and probably more is being done by the pros and I’m not talking about SD R and his little group. I’m talking about large investment pools (I have spoken with two of the largest) that have done over 500 each in Southern california last year. I also know two individuals with teams behind them that have done close to 100 each last year. These guys buy the crap, fix em and flip em. They make 6 figures on most of them and their collective profits easily surpassed $100M last year.

[sdrealtor]

Cold hard facts. I would guestimate that 80% of the flipping and probably more is being done by the pros and I’m not talking about SD R and his little group. I’m talking about large investment pools (I have spoken with two of the largest) that have done over 500 each in Southern california last year. I also know two individuals with teams behind them that have done close to 100 each last year. These guys buy the crap, fix em and flip em. They make 6 figures on most of them and their collective profits easily surpassed $100M last year.

[mercedes7]

Ok, I will buy that sdrealtor. Perhaps the pros will not be burned, but when the rookie flippers exit the game, and demand wanes, even the pros will step back if/when their profit potential decreases. Failure to do so could be financially detrimental.

My point is, when real estate is no longer identified as a short term investment instrument, and people finally acknowledge that prices are not going to suddenly bounce back, that is when the bottom is here or at least near. It is the psychology change that I am referring to, and it seems that we are getting there, but not there yet. People are still too obsessed with housing and real estate.

[mercedes7]

Ok, I will buy that sdrealtor. Perhaps the pros will not be burned, but when the rookie flippers exit the game, and demand wanes, even the pros will step back if/when their profit potential decreases. Failure to do so could be financially detrimental.

My point is, when real estate is no longer identified as a short term investment instrument, and people finally acknowledge that prices are not going to suddenly bounce back, that is when the bottom is here or at least near. It is the psychology change that I am referring to, and it seems that we are getting there, but not there yet. People are still too obsessed with housing and real estate.

[mercedes7]

Ok, I will buy that sdrealtor. Perhaps the pros will not be burned, but when the rookie flippers exit the game, and demand wanes, even the pros will step back if/when their profit potential decreases. Failure to do so could be financially detrimental.

My point is, when real estate is no longer identified as a short term investment instrument, and people finally acknowledge that prices are not going to suddenly bounce back, that is when the bottom is here or at least near. It is the psychology change that I am referring to, and it seems that we are getting there, but not there yet. People are still too obsessed with housing and real estate.

[mercedes7]

Ok, I will buy that sdrealtor. Perhaps the pros will not be burned, but when the rookie flippers exit the game, and demand wanes, even the pros will step back if/when their profit potential decreases. Failure to do so could be financially detrimental.

My point is, when real estate is no longer identified as a short term investment instrument, and people finally acknowledge that prices are not going to suddenly bounce back, that is when the bottom is here or at least near. It is the psychology change that I am referring to, and it seems that we are getting there, but not there yet. People are still too obsessed with housing and real estate.

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