Why 'Extreme Makeover' House Faces Foreclosure

[gorkhalidai1]

wallet dr...very informative topic, thanks........yet I believe that the extreme makeover guy dug his own hole. he played with his homes equity like you mentioned.......so i have no sympathy for him.....he just blew his chance by getting greedy

[TranCendenZ]

WalletDoctor, thanks for the information.  I was wondering what a professional had to say about the Extreme Makeover house.

[WalletDoctor]

Contractor or investor?

[TranCendenZ]

WalletDoctor, I am neither, but my older brother is a flipper. You're an interesting and informative speaker, and I'll recommend your YouTube video when the subject of types of real estate deals comes up.

[WalletDoctor]

Thanks, veteran Flippers are really good at what they do and command serious respect. But, flipping is so intense it's easy to get tunnel vision. Every flipper should cash out their primary residence and separate it from all rental and flip properties (in which title should be held in a separate corporation). Flippers should also have their IRAs in the stock indexes to diversify out of real estate. This way the world can collapse and he's still fine.

Thanks and hope this helps!

-Scott

[GinkoBill]

That's cool... I've heard a lot of real estate gurus before but they never break it down like this. What a help! Thanks!