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  • August 25, 2008 at 6:46 AM #261627
    socrattt
    Participant

    There are still a number of current buyers out there that are going to get burned by this market. You would think the simple prediction of the interest rates rising to curb inflation would keep many buyers from purchasing in this market. I agree that many people can still afford to purchase a home and maybe everyone does not have the same idea that a home purchase is an investment. I personally believe this next year is going to get nasty with all the negative news still yet to affect the market.

    Buying a flipper is a very speculative move in this market because when those rates start moving over 7% and 8% we will really start seeing a stagnate market. We are in the age of the paid programs and million dollar dreams. Everyone thinks they are more educated about RE purchases than ever before. The educated investor only knows what they have seen, but fear the unknown. The truth is no one has witnessed what will occur when this market really crashes and it is coming soon.

    August 25, 2008 at 10:59 AM #261459
    peterb
    Participant

    Having lived through this before, I can tell you that buying and holding right now is dangerous. Actually flipping is the only thing that makes sense if you can get it cheap enough. That’s a big “if”. The owner of the debt is going to be the one that allows you this deal. Like buying for 30% to 40% of the LOAN amount. Not the market value or any other measure. The loan amount. The first loan amount.
    Given that foreclosures are rising rapidly, the lenders are capitulating because they hold the shadow inventory, so they know what’s coming. More of them! If you can get to them, and get them to do the deal, you’ve got a shot at making good money. Making money in a declining market is a game for professionals! And 30 to 40% off the first loan is the prices the best are paying, and they know their game very well. And they will be competing against you when you and them put your “flips” back out on the market.

    August 25, 2008 at 10:59 AM #261660
    peterb
    Participant

    Having lived through this before, I can tell you that buying and holding right now is dangerous. Actually flipping is the only thing that makes sense if you can get it cheap enough. That’s a big “if”. The owner of the debt is going to be the one that allows you this deal. Like buying for 30% to 40% of the LOAN amount. Not the market value or any other measure. The loan amount. The first loan amount.
    Given that foreclosures are rising rapidly, the lenders are capitulating because they hold the shadow inventory, so they know what’s coming. More of them! If you can get to them, and get them to do the deal, you’ve got a shot at making good money. Making money in a declining market is a game for professionals! And 30 to 40% off the first loan is the prices the best are paying, and they know their game very well. And they will be competing against you when you and them put your “flips” back out on the market.

    August 25, 2008 at 10:59 AM #261671
    peterb
    Participant

    Having lived through this before, I can tell you that buying and holding right now is dangerous. Actually flipping is the only thing that makes sense if you can get it cheap enough. That’s a big “if”. The owner of the debt is going to be the one that allows you this deal. Like buying for 30% to 40% of the LOAN amount. Not the market value or any other measure. The loan amount. The first loan amount.
    Given that foreclosures are rising rapidly, the lenders are capitulating because they hold the shadow inventory, so they know what’s coming. More of them! If you can get to them, and get them to do the deal, you’ve got a shot at making good money. Making money in a declining market is a game for professionals! And 30 to 40% off the first loan is the prices the best are paying, and they know their game very well. And they will be competing against you when you and them put your “flips” back out on the market.

    August 25, 2008 at 10:59 AM #261719
    peterb
    Participant

    Having lived through this before, I can tell you that buying and holding right now is dangerous. Actually flipping is the only thing that makes sense if you can get it cheap enough. That’s a big “if”. The owner of the debt is going to be the one that allows you this deal. Like buying for 30% to 40% of the LOAN amount. Not the market value or any other measure. The loan amount. The first loan amount.
    Given that foreclosures are rising rapidly, the lenders are capitulating because they hold the shadow inventory, so they know what’s coming. More of them! If you can get to them, and get them to do the deal, you’ve got a shot at making good money. Making money in a declining market is a game for professionals! And 30 to 40% off the first loan is the prices the best are paying, and they know their game very well. And they will be competing against you when you and them put your “flips” back out on the market.

    August 25, 2008 at 10:59 AM #261757
    peterb
    Participant

    Having lived through this before, I can tell you that buying and holding right now is dangerous. Actually flipping is the only thing that makes sense if you can get it cheap enough. That’s a big “if”. The owner of the debt is going to be the one that allows you this deal. Like buying for 30% to 40% of the LOAN amount. Not the market value or any other measure. The loan amount. The first loan amount.
    Given that foreclosures are rising rapidly, the lenders are capitulating because they hold the shadow inventory, so they know what’s coming. More of them! If you can get to them, and get them to do the deal, you’ve got a shot at making good money. Making money in a declining market is a game for professionals! And 30 to 40% off the first loan is the prices the best are paying, and they know their game very well. And they will be competing against you when you and them put your “flips” back out on the market.

    August 25, 2008 at 10:36 PM #261768
    SD Realtor
    Participant

    I think that there are very few, if any, here on Piggington that have a concept of what I am talking about. I will try to explain one last time. The cast of flippers here are not people buying and holding. They are not going to rent the property out. These are locals who have a very keen eye for select local markets here. These are people who make extraordinary returns on large sums of money. What confounds me is that I personally look on this as lost opportunity while I sit here and read about how this is a losing proposition.

    Again, this is no claim of a market bottom or anything like that. Of course foreclosures are rising, of course the secular depreciation cycle we are in is going to last quite awhile. Yet as sure as I am about that I am also as sure that those who warn the most about things that will “certainly happen” that are “right around the corner” are also those who are absolutely nowhere near the market right now. They have no sense at all about the reality of what is happening.

    Look, don’t confuse what I am saying with, “go buy a home now because investors are doing it”. Yet while lots of you may raise the red flag about the impending doom, (which I am not sitting here and denying) there are plenty of people making alot of money. They get in and out of the market quickly and they are quite nimble. Quite frankly, business for them has never been better.

    August 25, 2008 at 10:36 PM #261970
    SD Realtor
    Participant

    I think that there are very few, if any, here on Piggington that have a concept of what I am talking about. I will try to explain one last time. The cast of flippers here are not people buying and holding. They are not going to rent the property out. These are locals who have a very keen eye for select local markets here. These are people who make extraordinary returns on large sums of money. What confounds me is that I personally look on this as lost opportunity while I sit here and read about how this is a losing proposition.

    Again, this is no claim of a market bottom or anything like that. Of course foreclosures are rising, of course the secular depreciation cycle we are in is going to last quite awhile. Yet as sure as I am about that I am also as sure that those who warn the most about things that will “certainly happen” that are “right around the corner” are also those who are absolutely nowhere near the market right now. They have no sense at all about the reality of what is happening.

    Look, don’t confuse what I am saying with, “go buy a home now because investors are doing it”. Yet while lots of you may raise the red flag about the impending doom, (which I am not sitting here and denying) there are plenty of people making alot of money. They get in and out of the market quickly and they are quite nimble. Quite frankly, business for them has never been better.

    August 25, 2008 at 10:36 PM #261978
    SD Realtor
    Participant

    I think that there are very few, if any, here on Piggington that have a concept of what I am talking about. I will try to explain one last time. The cast of flippers here are not people buying and holding. They are not going to rent the property out. These are locals who have a very keen eye for select local markets here. These are people who make extraordinary returns on large sums of money. What confounds me is that I personally look on this as lost opportunity while I sit here and read about how this is a losing proposition.

    Again, this is no claim of a market bottom or anything like that. Of course foreclosures are rising, of course the secular depreciation cycle we are in is going to last quite awhile. Yet as sure as I am about that I am also as sure that those who warn the most about things that will “certainly happen” that are “right around the corner” are also those who are absolutely nowhere near the market right now. They have no sense at all about the reality of what is happening.

    Look, don’t confuse what I am saying with, “go buy a home now because investors are doing it”. Yet while lots of you may raise the red flag about the impending doom, (which I am not sitting here and denying) there are plenty of people making alot of money. They get in and out of the market quickly and they are quite nimble. Quite frankly, business for them has never been better.

    August 25, 2008 at 10:36 PM #262031
    SD Realtor
    Participant

    I think that there are very few, if any, here on Piggington that have a concept of what I am talking about. I will try to explain one last time. The cast of flippers here are not people buying and holding. They are not going to rent the property out. These are locals who have a very keen eye for select local markets here. These are people who make extraordinary returns on large sums of money. What confounds me is that I personally look on this as lost opportunity while I sit here and read about how this is a losing proposition.

    Again, this is no claim of a market bottom or anything like that. Of course foreclosures are rising, of course the secular depreciation cycle we are in is going to last quite awhile. Yet as sure as I am about that I am also as sure that those who warn the most about things that will “certainly happen” that are “right around the corner” are also those who are absolutely nowhere near the market right now. They have no sense at all about the reality of what is happening.

    Look, don’t confuse what I am saying with, “go buy a home now because investors are doing it”. Yet while lots of you may raise the red flag about the impending doom, (which I am not sitting here and denying) there are plenty of people making alot of money. They get in and out of the market quickly and they are quite nimble. Quite frankly, business for them has never been better.

    August 25, 2008 at 10:36 PM #262068
    SD Realtor
    Participant

    I think that there are very few, if any, here on Piggington that have a concept of what I am talking about. I will try to explain one last time. The cast of flippers here are not people buying and holding. They are not going to rent the property out. These are locals who have a very keen eye for select local markets here. These are people who make extraordinary returns on large sums of money. What confounds me is that I personally look on this as lost opportunity while I sit here and read about how this is a losing proposition.

    Again, this is no claim of a market bottom or anything like that. Of course foreclosures are rising, of course the secular depreciation cycle we are in is going to last quite awhile. Yet as sure as I am about that I am also as sure that those who warn the most about things that will “certainly happen” that are “right around the corner” are also those who are absolutely nowhere near the market right now. They have no sense at all about the reality of what is happening.

    Look, don’t confuse what I am saying with, “go buy a home now because investors are doing it”. Yet while lots of you may raise the red flag about the impending doom, (which I am not sitting here and denying) there are plenty of people making alot of money. They get in and out of the market quickly and they are quite nimble. Quite frankly, business for them has never been better.

    August 25, 2008 at 11:47 PM #261793
    sdrealtor
    Participant

    I know a few who are killing it also. There’s money to be made in good times and bad for those who know how.

    August 25, 2008 at 11:47 PM #261995
    sdrealtor
    Participant

    I know a few who are killing it also. There’s money to be made in good times and bad for those who know how.

    August 25, 2008 at 11:47 PM #262003
    sdrealtor
    Participant

    I know a few who are killing it also. There’s money to be made in good times and bad for those who know how.

    August 25, 2008 at 11:47 PM #262056
    sdrealtor
    Participant

    I know a few who are killing it also. There’s money to be made in good times and bad for those who know how.

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