“House Flipping not Always Successful”
Barbara XXXXXX gave me your contact information, I met her at the closing, as she purchased and you handled the mortgage for her. This was a property that I flipped and had on the market for 9 months. The truth is I barely broke even so I’m not sure that flipping is for me, but real estate ownership will always be. I currently own a 3 family and want to purchase more investment properties.
In speaking to Barbara she told me that you have been her mortgage broker for many years and that you really know your stuff. Can we set up a time to get together, hopefully we can work together as well? Can you email some dates and times?
For years I have done mortgages for clients that purchase homes that were recently renovated by a house flipper, but the amount of properties being flipped is decreasing and often for good reason. Some transactions that a house flipper handles can end up not making them any money and sometimes they will even have to bring money to a closing.
This recent article demonstrates the message: