A 20% down buyer with a slightly higher offer can easily compete with an all-cash buyer. A buyer with 20% in cash, an 800 fico, a good income, pre-qual letter, and check in hand is money in the bank, and the seller knows it. It's a world of difference from an FHA buyer.
These kind of flippers will never be "all flipped out". If they get burned by a further downturn in the market, there's another group of flippers behind them that will get even better deals.
While others complain and grumble and fail to see the opportunities, they're turning neighborhoods around and making money through hard work.
A 20% down buyer with a slightly higher offer can easily compete with an all-cash buyer. A buyer with 20% in cash, an 800 fico, a good income, pre-qual letter, and check in hand is money in the bank, and the seller knows it. It's a world of difference from an FHA buyer.
Renst33 2 years ago
These kind of flippers will never be "all flipped out". If they get burned by a further downturn in the market, there's another group of flippers behind them that will get even better deals.
While others complain and grumble and fail to see the opportunities, they're turning neighborhoods around and making money through hard work.
Kudos!
mdindestin 2 years ago
It's very clear that an FHA borrower (or even someone with 20% down) can never compete with an all cash buyer... ever.
These flippers are part of the reason why certain parts of the low end CA market have not crashed further.
When these all cash flipper are all "flipped out" of the market, then you know we're near the bottom.
JP5466 2 years ago
Low or No money down... god help us.
tyronebiggums3 2 years ago
Comment removed
qwertywxyz 2 years ago
My comment was in regards to 1:50...
"healthy" demand for owner/occupiers with low or no money down.
That's what contributed to Bubble #1. Now lets reflate it.
God help us.
tyronebiggums3 2 years ago