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[+] A.S.K. Services, Inc. - Edward Huguenin/SC (4 replies)
5/13/2009 6:15:42 PM (3673 views)

[+] ESS Soultions, LLC - Robert Breakell/CT (9 replies)
5/13/2009 4:41:05 PM (6010 views)

Maverick National Services, LLC - Ron McPherson/IA
5/13/2009 10:27:35 AM (5694 views)

[+] More fees to advance - Robert Franco/OH (14 replies)
5/13/2009 9:59:18 AM (4909 views)

[+] Doc Hunters, Clearwater, FL - Bill Jones/NJ (9 replies)
5/12/2009 10:38:46 AM (9611 views)




Status - Becky Vigneault/VT
5/11/2009 9:31:54 PM (2954 views)

[+] Carteret Title - Kristi Lee/NE (4 replies)
5/11/2009 11:38:32 AM (3991 views)

[+] Applied Technology Resources - Debbie Thibodeaux/LA (3 replies)
5/8/2009 6:06:33 PM (3825 views)

Woman admits taking $3.4M from SP company - George Booth/OH
5/6/2009 10:29:06 PM (4366 views)

[+] Pet Peeves - Jean Allen/NC (9 replies)
5/6/2009 7:12:06 PM (3726 views)

[+] REAL SOURCE TITLE - CLOSED - Frank NAVARRO/IL (9 replies)
5/6/2009 7:11:32 PM (13241 views)

[+] Fidelity/Lawyer/Commonwelath Illegal Breach of Contract - Cheryl Hartzman/PA (2 replies)
5/4/2009 3:30:31 PM (4304 views)

[+] New Clients - Mike /KS (21 replies)
5/3/2009 8:19:42 AM (4338 views)

[+] Why don't we charge up front? - Patrick Ridens/CO (5 replies)
5/2/2009 11:34:19 PM (4536 views)

[-] transactional funding - Chet Mazur/CA (3 replies)
5/2/2009 3:32:46 PM (3633 views)
Good Luck, Dude. - Patrick Scott/IL
5/2/2009 9:49:02 PM (3100 views)

I don't know much about property flipping, but it doesn't seem to me that this market is exactly conducive to the practice.  With all of the inventory available, how can the flippers expect to immediately sell the property at a profit?

For at least the past few years, institutional leders have been wary of the practice and they have taken steps to find out if property has changed hands within a 24-month period.  If it has, I suppose they take a good look at the appraisal.  I believe new appraisal rules also went into effect for Fannie and Freddie loans just yesterday which break the ties between the broker and the appraiser.  Seems to me, that will make the flip even more difficult.

If you are looking for investors to provide hard money for these transactions in the short term, I would be interested to know what kind of luck you are having. 

I have received a few inquiries from people purporting to  be in a pool of property investors.  They claim to be working with hard money lenders (like you?) in the short term and are in the business of reselling the properties.  One sent an inquiry within the past couple of days.  The wording of the inquiry led me to believe they were looking for a real estate agent, not a title agent.  Yet, the inquiry cam through our website.  We are a title agent, not a real astate agent.  I was baffled.   I never answered the inquiry, because I kept tripping over red flags.

The messages I have received have been worded similarly enough that I am convinced they all had their roots with some motivational speaker somewhere sucking these people into a con.

If I am wrong about this, please set me straight.  I am very interested to know how this could possibly be a good investment for anybody at this time.

 

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Re: Good Luck, Dude. - Thomas/FL
5/7/2009 8:07:41 PM (3084 views)
Re: Good Luck, Dude. - george Hubka/MI
5/8/2009 6:37:57 PM (2953 views)


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