[SD Realtor]

We have offered cash for keys before and each case varies with the tenant, current rent, our motivation to get them out etc… Your friend simply needs to look over the lease because the new owner must abide by it. In short there may be a new landlord but all the terms of the lease are the same so your friend is okay. Also with regards to showings and such, the lease should specify what can and cannot occur with regards to marketing the property. In “general” a 24 hour notice is required but leases vary.

[SD Realtor]

We have offered cash for keys before and each case varies with the tenant, current rent, our motivation to get them out etc… Your friend simply needs to look over the lease because the new owner must abide by it. In short there may be a new landlord but all the terms of the lease are the same so your friend is okay. Also with regards to showings and such, the lease should specify what can and cannot occur with regards to marketing the property. In “general” a 24 hour notice is required but leases vary.

[SD Realtor]

We have offered cash for keys before and each case varies with the tenant, current rent, our motivation to get them out etc… Your friend simply needs to look over the lease because the new owner must abide by it. In short there may be a new landlord but all the terms of the lease are the same so your friend is okay. Also with regards to showings and such, the lease should specify what can and cannot occur with regards to marketing the property. In “general” a 24 hour notice is required but leases vary.

[SD Realtor]

We have offered cash for keys before and each case varies with the tenant, current rent, our motivation to get them out etc… Your friend simply needs to look over the lease because the new owner must abide by it. In short there may be a new landlord but all the terms of the lease are the same so your friend is okay. Also with regards to showings and such, the lease should specify what can and cannot occur with regards to marketing the property. In “general” a 24 hour notice is required but leases vary.

[SD Realtor]

CAR I understand completely. One thing though is that it really is a slippery slope. The direction that our country is heading is one that concerns me and I shudder when I think about incremental loss of freedom as regulation increases. It is a slippery slope. Okay so you totally outlaw flippers. What about investment for rentals? Right now some of the purchases (at least at trustee sale) may not be ripe for a flip but may represent some decent cash flow opportunity for a rental (especially in light of savings rates) right now. Do those get taken away as well?

Yes we agree 100% on the answer which is make things more STRICT for those who haven’t saved for a large downpayment.

However you run that idea up the flagpole in this environment and you will likely be called a racist in about 2 seconds.

So what do you do?

I agree with Pem you hang in there. You guys will get your places. It will take time. Also don’t think in the negative (hard for me to do because I always do that) and think about hiring someone to go to the auction for you. Look at what is available that day and by 9 am send them down with the cashiers checks. It is not as hard as you make it out to be and many of us have other jobs as well. Set your max price and let it go.

JP would you have bought Beryl for 450k? That is 32k more then the auction but you would have the home free and clear. Again, I know it is not easy to do but the mission is not as impossible as you guys make it out to be.

Also I think you are seeing a delayed effect. Many of the flips you have seen or are seeing are leftovers from the run we have had. I believe you will see those start to dry up as we move forward. Some of them will go sour as well. Hindsight is 20/20 and the bottom we had in 2008 is passed us by but will come again driven moreso by rates then anything else. Hopefully the rates will be high enough and our govt will be indebted enough that they cannot continue to subsidize housing but one never knows.

[SD Realtor]

CAR I understand completely. One thing though is that it really is a slippery slope. The direction that our country is heading is one that concerns me and I shudder when I think about incremental loss of freedom as regulation increases. It is a slippery slope. Okay so you totally outlaw flippers. What about investment for rentals? Right now some of the purchases (at least at trustee sale) may not be ripe for a flip but may represent some decent cash flow opportunity for a rental (especially in light of savings rates) right now. Do those get taken away as well?

Yes we agree 100% on the answer which is make things more STRICT for those who haven’t saved for a large downpayment.

However you run that idea up the flagpole in this environment and you will likely be called a racist in about 2 seconds.

So what do you do?

I agree with Pem you hang in there. You guys will get your places. It will take time. Also don’t think in the negative (hard for me to do because I always do that) and think about hiring someone to go to the auction for you. Look at what is available that day and by 9 am send them down with the cashiers checks. It is not as hard as you make it out to be and many of us have other jobs as well. Set your max price and let it go.

JP would you have bought Beryl for 450k? That is 32k more then the auction but you would have the home free and clear. Again, I know it is not easy to do but the mission is not as impossible as you guys make it out to be.

Also I think you are seeing a delayed effect. Many of the flips you have seen or are seeing are leftovers from the run we have had. I believe you will see those start to dry up as we move forward. Some of them will go sour as well. Hindsight is 20/20 and the bottom we had in 2008 is passed us by but will come again driven moreso by rates then anything else. Hopefully the rates will be high enough and our govt will be indebted enough that they cannot continue to subsidize housing but one never knows.

[SD Realtor]

CAR I understand completely. One thing though is that it really is a slippery slope. The direction that our country is heading is one that concerns me and I shudder when I think about incremental loss of freedom as regulation increases. It is a slippery slope. Okay so you totally outlaw flippers. What about investment for rentals? Right now some of the purchases (at least at trustee sale) may not be ripe for a flip but may represent some decent cash flow opportunity for a rental (especially in light of savings rates) right now. Do those get taken away as well?

Yes we agree 100% on the answer which is make things more STRICT for those who haven’t saved for a large downpayment.

However you run that idea up the flagpole in this environment and you will likely be called a racist in about 2 seconds.

So what do you do?

I agree with Pem you hang in there. You guys will get your places. It will take time. Also don’t think in the negative (hard for me to do because I always do that) and think about hiring someone to go to the auction for you. Look at what is available that day and by 9 am send them down with the cashiers checks. It is not as hard as you make it out to be and many of us have other jobs as well. Set your max price and let it go.

JP would you have bought Beryl for 450k? That is 32k more then the auction but you would have the home free and clear. Again, I know it is not easy to do but the mission is not as impossible as you guys make it out to be.

Also I think you are seeing a delayed effect. Many of the flips you have seen or are seeing are leftovers from the run we have had. I believe you will see those start to dry up as we move forward. Some of them will go sour as well. Hindsight is 20/20 and the bottom we had in 2008 is passed us by but will come again driven moreso by rates then anything else. Hopefully the rates will be high enough and our govt will be indebted enough that they cannot continue to subsidize housing but one never knows.

[SD Realtor]

CAR I understand completely. One thing though is that it really is a slippery slope. The direction that our country is heading is one that concerns me and I shudder when I think about incremental loss of freedom as regulation increases. It is a slippery slope. Okay so you totally outlaw flippers. What about investment for rentals? Right now some of the purchases (at least at trustee sale) may not be ripe for a flip but may represent some decent cash flow opportunity for a rental (especially in light of savings rates) right now. Do those get taken away as well?

Yes we agree 100% on the answer which is make things more STRICT for those who haven’t saved for a large downpayment.

However you run that idea up the flagpole in this environment and you will likely be called a racist in about 2 seconds.

So what do you do?

I agree with Pem you hang in there. You guys will get your places. It will take time. Also don’t think in the negative (hard for me to do because I always do that) and think about hiring someone to go to the auction for you. Look at what is available that day and by 9 am send them down with the cashiers checks. It is not as hard as you make it out to be and many of us have other jobs as well. Set your max price and let it go.

JP would you have bought Beryl for 450k? That is 32k more then the auction but you would have the home free and clear. Again, I know it is not easy to do but the mission is not as impossible as you guys make it out to be.

Also I think you are seeing a delayed effect. Many of the flips you have seen or are seeing are leftovers from the run we have had. I believe you will see those start to dry up as we move forward. Some of them will go sour as well. Hindsight is 20/20 and the bottom we had in 2008 is passed us by but will come again driven moreso by rates then anything else. Hopefully the rates will be high enough and our govt will be indebted enough that they cannot continue to subsidize housing but one never knows.

[SD Realtor]

CAR I understand completely. One thing though is that it really is a slippery slope. The direction that our country is heading is one that concerns me and I shudder when I think about incremental loss of freedom as regulation increases. It is a slippery slope. Okay so you totally outlaw flippers. What about investment for rentals? Right now some of the purchases (at least at trustee sale) may not be ripe for a flip but may represent some decent cash flow opportunity for a rental (especially in light of savings rates) right now. Do those get taken away as well?

Yes we agree 100% on the answer which is make things more STRICT for those who haven’t saved for a large downpayment.

However you run that idea up the flagpole in this environment and you will likely be called a racist in about 2 seconds.

So what do you do?

I agree with Pem you hang in there. You guys will get your places. It will take time. Also don’t think in the negative (hard for me to do because I always do that) and think about hiring someone to go to the auction for you. Look at what is available that day and by 9 am send them down with the cashiers checks. It is not as hard as you make it out to be and many of us have other jobs as well. Set your max price and let it go.

JP would you have bought Beryl for 450k? That is 32k more then the auction but you would have the home free and clear. Again, I know it is not easy to do but the mission is not as impossible as you guys make it out to be.

Also I think you are seeing a delayed effect. Many of the flips you have seen or are seeing are leftovers from the run we have had. I believe you will see those start to dry up as we move forward. Some of them will go sour as well. Hindsight is 20/20 and the bottom we had in 2008 is passed us by but will come again driven moreso by rates then anything else. Hopefully the rates will be high enough and our govt will be indebted enough that they cannot continue to subsidize housing but one never knows.

[SD Realtor]

JP that is what I think has bugged me and does bug me about the entire thread and premise.

Before I forget, 2012 Galveston is pending in Baypark and BAC did a cheapo kitchen and part of the home and left the rest of it. The home went to trsutee sale for 450k in December and none of us touched it at auction. BAC went in and did some work and it is now pending at 596k.

Okay so back to my other thoughts which are the anger you guys have at flippers is kind of a microcosm of the anger in the country today. It is an anger of this guy has what I want so he should not be allowed to do what he wants so I can get what I want. That scares me.

Here is an inherently crappy crappy system, totally propped up by govt and taxpayer money working hand in hand with Wall St. We all agree on that correct? Constraining inventory, holding back properties, renegotiating mortgages to people who never should have been allowed to buy in the first place and who even TODAY cannot afford the home they live in, and basically punishing the rest of us correct? I mean we all do see eye to eye on that and I think we all know and believe this is the REAL cause of why none of us can buy a home at a decent price.

Now you have a small group of people who go out, and whether they buy through trustee sale or on the market, they take the risk and buy a home to flip. They put their money on the line, their time, and they do it. They pay HEFTY taxes on the profit, they are at risk bigtime, and yes they take the homes. They are playing within the system, and they are indeed taking advantage of the market conditions.

Yet the rage directed at them compared to the institutionalized almost criminal system to me seems…. out of whack. I guess I keep coming back to the same thing where you and CAR CAN BUY AT TRUSTEE SALES. Why don’t you? Jim Klinge has a system where he is helping buyers to do this. You guys put so much time and energy into looking for a home, yet have you exhausted all the resources? It seems to me no you have not. You certainly have the energy to point out the details of various properties, even you yourself spend plenty of time tracking them.

Lets not forget alot of these same flippers are exposed and will be in trouble when the market turns. Just a matter of time. Regardless of whether it is a trustee flipper or a resale flipper they will be the first to be exposed and they will be the first to get hammered and have to lower the price. Times are good for them now but nothing is permanent.

So coming full circle I fully understand your and CARs anger at the market conditions.

Yes JP if you want me to admit that the flippers who probably represent less then 5% of total sales in the county are 100% responsible for providing price support. If that is what you honestly believe then fine you can believe it.

[SD Realtor]

JP that is what I think has bugged me and does bug me about the entire thread and premise.

Before I forget, 2012 Galveston is pending in Baypark and BAC did a cheapo kitchen and part of the home and left the rest of it. The home went to trsutee sale for 450k in December and none of us touched it at auction. BAC went in and did some work and it is now pending at 596k.

Okay so back to my other thoughts which are the anger you guys have at flippers is kind of a microcosm of the anger in the country today. It is an anger of this guy has what I want so he should not be allowed to do what he wants so I can get what I want. That scares me.

Here is an inherently crappy crappy system, totally propped up by govt and taxpayer money working hand in hand with Wall St. We all agree on that correct? Constraining inventory, holding back properties, renegotiating mortgages to people who never should have been allowed to buy in the first place and who even TODAY cannot afford the home they live in, and basically punishing the rest of us correct? I mean we all do see eye to eye on that and I think we all know and believe this is the REAL cause of why none of us can buy a home at a decent price.

Now you have a small group of people who go out, and whether they buy through trustee sale or on the market, they take the risk and buy a home to flip. They put their money on the line, their time, and they do it. They pay HEFTY taxes on the profit, they are at risk bigtime, and yes they take the homes. They are playing within the system, and they are indeed taking advantage of the market conditions.

Yet the rage directed at them compared to the institutionalized almost criminal system to me seems…. out of whack. I guess I keep coming back to the same thing where you and CAR CAN BUY AT TRUSTEE SALES. Why don’t you? Jim Klinge has a system where he is helping buyers to do this. You guys put so much time and energy into looking for a home, yet have you exhausted all the resources? It seems to me no you have not. You certainly have the energy to point out the details of various properties, even you yourself spend plenty of time tracking them.

Lets not forget alot of these same flippers are exposed and will be in trouble when the market turns. Just a matter of time. Regardless of whether it is a trustee flipper or a resale flipper they will be the first to be exposed and they will be the first to get hammered and have to lower the price. Times are good for them now but nothing is permanent.

So coming full circle I fully understand your and CARs anger at the market conditions.

Yes JP if you want me to admit that the flippers who probably represent less then 5% of total sales in the county are 100% responsible for providing price support. If that is what you honestly believe then fine you can believe it.

[SD Realtor]

JP that is what I think has bugged me and does bug me about the entire thread and premise.

Before I forget, 2012 Galveston is pending in Baypark and BAC did a cheapo kitchen and part of the home and left the rest of it. The home went to trsutee sale for 450k in December and none of us touched it at auction. BAC went in and did some work and it is now pending at 596k.

Okay so back to my other thoughts which are the anger you guys have at flippers is kind of a microcosm of the anger in the country today. It is an anger of this guy has what I want so he should not be allowed to do what he wants so I can get what I want. That scares me.

Here is an inherently crappy crappy system, totally propped up by govt and taxpayer money working hand in hand with Wall St. We all agree on that correct? Constraining inventory, holding back properties, renegotiating mortgages to people who never should have been allowed to buy in the first place and who even TODAY cannot afford the home they live in, and basically punishing the rest of us correct? I mean we all do see eye to eye on that and I think we all know and believe this is the REAL cause of why none of us can buy a home at a decent price.

Now you have a small group of people who go out, and whether they buy through trustee sale or on the market, they take the risk and buy a home to flip. They put their money on the line, their time, and they do it. They pay HEFTY taxes on the profit, they are at risk bigtime, and yes they take the homes. They are playing within the system, and they are indeed taking advantage of the market conditions.

Yet the rage directed at them compared to the institutionalized almost criminal system to me seems…. out of whack. I guess I keep coming back to the same thing where you and CAR CAN BUY AT TRUSTEE SALES. Why don’t you? Jim Klinge has a system where he is helping buyers to do this. You guys put so much time and energy into looking for a home, yet have you exhausted all the resources? It seems to me no you have not. You certainly have the energy to point out the details of various properties, even you yourself spend plenty of time tracking them.

Lets not forget alot of these same flippers are exposed and will be in trouble when the market turns. Just a matter of time. Regardless of whether it is a trustee flipper or a resale flipper they will be the first to be exposed and they will be the first to get hammered and have to lower the price. Times are good for them now but nothing is permanent.

So coming full circle I fully understand your and CARs anger at the market conditions.

Yes JP if you want me to admit that the flippers who probably represent less then 5% of total sales in the county are 100% responsible for providing price support. If that is what you honestly believe then fine you can believe it.

[SD Realtor]

JP that is what I think has bugged me and does bug me about the entire thread and premise.

Before I forget, 2012 Galveston is pending in Baypark and BAC did a cheapo kitchen and part of the home and left the rest of it. The home went to trsutee sale for 450k in December and none of us touched it at auction. BAC went in and did some work and it is now pending at 596k.

Okay so back to my other thoughts which are the anger you guys have at flippers is kind of a microcosm of the anger in the country today. It is an anger of this guy has what I want so he should not be allowed to do what he wants so I can get what I want. That scares me.

Here is an inherently crappy crappy system, totally propped up by govt and taxpayer money working hand in hand with Wall St. We all agree on that correct? Constraining inventory, holding back properties, renegotiating mortgages to people who never should have been allowed to buy in the first place and who even TODAY cannot afford the home they live in, and basically punishing the rest of us correct? I mean we all do see eye to eye on that and I think we all know and believe this is the REAL cause of why none of us can buy a home at a decent price.

Now you have a small group of people who go out, and whether they buy through trustee sale or on the market, they take the risk and buy a home to flip. They put their money on the line, their time, and they do it. They pay HEFTY taxes on the profit, they are at risk bigtime, and yes they take the homes. They are playing within the system, and they are indeed taking advantage of the market conditions.

Yet the rage directed at them compared to the institutionalized almost criminal system to me seems…. out of whack. I guess I keep coming back to the same thing where you and CAR CAN BUY AT TRUSTEE SALES. Why don’t you? Jim Klinge has a system where he is helping buyers to do this. You guys put so much time and energy into looking for a home, yet have you exhausted all the resources? It seems to me no you have not. You certainly have the energy to point out the details of various properties, even you yourself spend plenty of time tracking them.

Lets not forget alot of these same flippers are exposed and will be in trouble when the market turns. Just a matter of time. Regardless of whether it is a trustee flipper or a resale flipper they will be the first to be exposed and they will be the first to get hammered and have to lower the price. Times are good for them now but nothing is permanent.

So coming full circle I fully understand your and CARs anger at the market conditions.

Yes JP if you want me to admit that the flippers who probably represent less then 5% of total sales in the county are 100% responsible for providing price support. If that is what you honestly believe then fine you can believe it.

[SD Realtor]

JP that is what I think has bugged me and does bug me about the entire thread and premise.

Before I forget, 2012 Galveston is pending in Baypark and BAC did a cheapo kitchen and part of the home and left the rest of it. The home went to trsutee sale for 450k in December and none of us touched it at auction. BAC went in and did some work and it is now pending at 596k.

Okay so back to my other thoughts which are the anger you guys have at flippers is kind of a microcosm of the anger in the country today. It is an anger of this guy has what I want so he should not be allowed to do what he wants so I can get what I want. That scares me.

Here is an inherently crappy crappy system, totally propped up by govt and taxpayer money working hand in hand with Wall St. We all agree on that correct? Constraining inventory, holding back properties, renegotiating mortgages to people who never should have been allowed to buy in the first place and who even TODAY cannot afford the home they live in, and basically punishing the rest of us correct? I mean we all do see eye to eye on that and I think we all know and believe this is the REAL cause of why none of us can buy a home at a decent price.

Now you have a small group of people who go out, and whether they buy through trustee sale or on the market, they take the risk and buy a home to flip. They put their money on the line, their time, and they do it. They pay HEFTY taxes on the profit, they are at risk bigtime, and yes they take the homes. They are playing within the system, and they are indeed taking advantage of the market conditions.

Yet the rage directed at them compared to the institutionalized almost criminal system to me seems…. out of whack. I guess I keep coming back to the same thing where you and CAR CAN BUY AT TRUSTEE SALES. Why don’t you? Jim Klinge has a system where he is helping buyers to do this. You guys put so much time and energy into looking for a home, yet have you exhausted all the resources? It seems to me no you have not. You certainly have the energy to point out the details of various properties, even you yourself spend plenty of time tracking them.

Lets not forget alot of these same flippers are exposed and will be in trouble when the market turns. Just a matter of time. Regardless of whether it is a trustee flipper or a resale flipper they will be the first to be exposed and they will be the first to get hammered and have to lower the price. Times are good for them now but nothing is permanent.

So coming full circle I fully understand your and CARs anger at the market conditions.

Yes JP if you want me to admit that the flippers who probably represent less then 5% of total sales in the county are 100% responsible for providing price support. If that is what you honestly believe then fine you can believe it.

[SD Realtor]

CAR and JP you forget I am a buyer as well. I get affected in the same way, the EXACT same way as you guys do. No point in going aroound the block anymore. The point is moot.

Also JP there is an REO in Baypark, I forgot the street. Bank totally remodelled it with stainless steel appliances as well.

[Author]

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