Discussion in 'The Bar' started by banksy, Apr 1, 2014.
There are at least ten house flipping shows on tv
and they make fat stacks on every flip
No, but my wife has financed a few of them that ended with the people losing their ass.
I'd love to help you out in this thread, but I only drive 18 wheelers on ice roads.
I flipped one right on it's ass MMA style one time.
I got a bub that's working on one now
I'd be scared to shit
I'd hate to put in money and sweat equity, then lose my asshole
I'll flip you!
I think it would be cool if you had fuck you money already.
No way I could do it unless I could afford to lose the money.
Those guys are faaaags
I bought a shit condo in a shit neighborhood, slapped some paint inside and put in new appliances and made a nice chunk.
Ten years ago. It wouldn't move today and I'd have to play landlord.
I cleaned out houses in retirement villages and storage units, while working for an antique shop.
In real life they would have to film for a year to get 2-3 shows. All that shit is planted.
Houses are more fun to clean out. You get to look around for stash spots. Beware of locked closets. Year before I worked at the joint, they found one full of cub scout uniforms and kiddie porn.
bought a short sale for about 70 grand in 09 that I live in now--was ~175-80 in 05--I hope to flip it one day for a nice chunk...
A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens' full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency. Short sale agreements do not necessarily release borrowers from their obligations to repay any shortfalls on the loans, unless specifically agreed to between the parties. However, in California, legislation was passed to preclude deficiencies after a short sale is approved. The same is true of lenders on first loans and lenders on second loans — once the short sale is approved, no deficiencies are permitted after the short sale. (SB 931, SB 458 - Calif. Code of Civil Procedure Â§580e).
A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. Both often result in a negative credit report against the property owner.
Real estate industry data indicate that there were 2.2 million short sales in the United States during the period of the subprime mortgage crisis up to mid-2013.
Same as "upside down"