Real Estate News About Woodbridge Virginia Secrets To Buying And Flipping Luxury Homes
Find Out How Realtors And Lenders Buy And Flip Luxury Homes At A Profit
Find Out How Industry Insiders Make Big Bucks Flipping Million Dollar Luxury Homes
Here's the secret industry insiders use to buy and flip luxury homes: WE DON'T DO IT!!
I received an unsoliced (SPAM) offer by email today, promoting luxury home flipping. Here is a portion of the message that sounds like a fast track to easy money:
"That means you acquire these homes well below wholesale prices and you flip them to end buyers quickly below
market value and keep 10%-20% of the sale price (using none of your own cash or credit because they're short sales)."
"...wholesale prices..."??? There is no such thing as a wholesale market, unless Sam's Club or Costco just opened a new kiosk.
The industry insiders know that "flipping" houses at a profit sounds good, but the fact is, it's too good to be true.
Another quote that may sound delicious to you, but I know from a ton of experience selling short sales, that the following is total Bravo Sierra.... BS...
"(using none of your own cash or credit because they're short sales)."
That statement is false. Geez, if banks would sell me a luxury home, below market, with no cash or credit, I'd buy them.
You need 20% - 25% down because it is an investment property. That figure is standard among lenders.
Moreover, "...because they're short sales)." is total nonsense. "No down payment", has as much in common with "because it's a short sale", as a fish has in common with a bicycle.
People inside the business see and hear the sad tales of misery and sorrow from "flippers" who woke up one morning with a flipping seizure, heck-bent on making money flipping a house.
It just does not work.
If flipping $Million luxury homes was such a good idea, you could bet we insiders would be buying and flipping.
We don't.
Why? It is a fast, easy way to lose tens of thousands of dollars.
Now here comes the sales pitch for a slickee-boy salesman who wants to separate you from your money:
"This Wednesday at 9PM ET, we're going to introduce you to the EXPERT in luxury home short sales. His team of negotiators handle all of our luxury home short sales and his team will negotiate your short sales too."
Now comes the phrase that creates a sense of urgency for you to sign-up:
"But he can only work with a limited number of investors. You must be on the webinar to find out how to partner with him."
Did you notice that they intentionally left the NAME of the "EXPERT" out of the ad. Why? Because if they
mention his name, and you Google him, you'll find out he's a crook, ready to steal your money.
"This is an extremely hot topic and this webinar is filling up faster than any webinar we've ever done. Register here while we still have some seats available."
Folks, buying and selling short sales in today's market is a horrible, miserable, time-consuming experience that sucks the air out of the room, leaving you in agony.
As Dad always said, "If it sounds too good to be true, it's false."
Don't fall for these slickee-boy snake oil salesmen.
The only folks making six-figure incomes in the short sale business are the slickee-boys who sell expensive tickets to their seminars.
If you get nothing out of this warning other than JUST ONE THING, remember... industry insiders know buy and flip does not work, otherwise we'd spend our time doing so.
Real estate investing is not for everyone.
Real estate investing is a long-term investment. The only folks who make money in real estate are educated investors who buy, rent, and hold their properties in their portfolio as cash flow instruments.
How do I know?
I am an investor in real estate, and I've seen "flippers" lose a ton of money. As we say in Texas, "That dawg don't hunt."
Opportunities Are Everywhere...We Can Help You Find Your Dream Home.
Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.
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