[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.

[mercedes7]

Agreed. There is still too much speculation out there for this to be a true bottom. When the last flipper is burned so bad that they vow to never flip again…when the masses finally acknowledge that 2004-2006 was an “aberration” and not “the new normal”…that is when THE bottom will finally arrive. When this happens is anyone’s guess, but I would venture to say it will probably be closer to 2011-2012.

[mercedes7]

Agreed. There is still too much speculation out there for this to be a true bottom. When the last flipper is burned so bad that they vow to never flip again…when the masses finally acknowledge that 2004-2006 was an “aberration” and not “the new normal”…that is when THE bottom will finally arrive. When this happens is anyone’s guess, but I would venture to say it will probably be closer to 2011-2012.

[mercedes7]

Agreed. There is still too much speculation out there for this to be a true bottom. When the last flipper is burned so bad that they vow to never flip again…when the masses finally acknowledge that 2004-2006 was an “aberration” and not “the new normal”…that is when THE bottom will finally arrive. When this happens is anyone’s guess, but I would venture to say it will probably be closer to 2011-2012.

[mercedes7]

Agreed. There is still too much speculation out there for this to be a true bottom. When the last flipper is burned so bad that they vow to never flip again…when the masses finally acknowledge that 2004-2006 was an “aberration” and not “the new normal”…that is when THE bottom will finally arrive. When this happens is anyone’s guess, but I would venture to say it will probably be closer to 2011-2012.

[mercedes7]

Agreed. There is still too much speculation out there for this to be a true bottom. When the last flipper is burned so bad that they vow to never flip again…when the masses finally acknowledge that 2004-2006 was an “aberration” and not “the new normal”…that is when THE bottom will finally arrive. When this happens is anyone’s guess, but I would venture to say it will probably be closer to 2011-2012.

[mercedes7]

Yah, just felt that one too. Slept through the early morning ones though.

[mercedes7]

Yah, just felt that one too. Slept through the early morning ones though.

[mercedes7]

Yah, just felt that one too. Slept through the early morning ones though.

[mercedes7]

Yah, just felt that one too. Slept through the early morning ones though.

[mercedes7]

Yah, just felt that one too. Slept through the early morning ones though.

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