A feel for what Tom's world is like:
Flipper Opp
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Flips
Flippers and The Bubble
Excerpted from this NPR article: New research and data suggest that the practices of house flippers fed the...
CDM Flip
What a flip! This sold for $4,100,000 in 2014, was rebuilt, and then sold for $10,700,000 two years later: https://www.zillow.com/homedetails/4533-Orrington-Rd-Corona-Dl-Mar-CA-92625/25503497_zpid/
Vampire Squid Offers Flip Financing
Add house-flippers to Goldman Sachs' ever-expanding roster of potential clients as the Wall Street firm hunts for new ways to make money. Lending has taken an increasingly higher profile at Goldman, where once-prominent trading desks have had their wings clipped by...
Hurricane Flippers
Hat tip to Richard for sending this in: LINK An excerpt: Addressing a real estate conference in flood-ravaged Houston this month, longtime investor Ray Sasser detailed his strategy: buy up to 50 flooded homes at deep discounts, then fix and flip them for a hefty...
Housing Crisis Due to Flippers
We saw this happen in Bressi Ranch when Jenae and Company went on their 100% financing spree. Her victims weren't deadbeats - instead, they had good credit scores and other assets, and they were just duped into the get-rich-quick scheme. When it didn't pan out, they...
Flipper Meat
We've been big fans of Tom since he came back to SD:
Fast Money
We've touched on the new disrupter OpenDoor, which is currently operating in Phoenix and Dallas (places where home values might be easier to determine): https://www.opendoor.com/homepage They are willing to pay cash for your house and close in three days, which sounds...
Mega-Flipper
These guys are taking a lot of risks to be only making 6.5% on each sale. They would be crazy to try it in the higher-end markets! http://www.bizjournals.com/sanjose/blog/techflash/2016/01/keith-rabois-home-buying-startup-raises-80m.html Opendoor Labs Inc., the...
Flipper Crowdfunding
Remember last time? When you don't have mortgage underwriters being strict with the money, you are entering bubble territory: http://www.cnbc.com/id/102537364 Chicago-based Ben Walhood used to sell brain surgery equipment; on the side, he flipped a few houses. "When I...
