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Forums » Short Sales » Flopping is a myth

Flopping is a myth Subscribe to Flopping is a myth

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Maryann L.

Real Estate Investor · Methuen, Massachusetts


Forum_avatar_avatar-smitnlit

Sep 21 '10, 07:27 AM

http://californiashortsalelawyer.com/2010/09/three-myths/

I really like reading this guys blog. He explains things so there is no GREY area. It's black and white.


Andy J.

Real Estate Investor · Colorado Springs, Colorado


Forum_avatar_avatar-thebigduck

Sep 21 '10, 08:41 AM

Good find. I particularly enjoyed the very last sentence:

"Blaming the loss on the investor appears as an ingenuous attempt to deflect accountability for prior excesses in loose lending practices."


Bryan Hancock

Real Estate Investor · Austin, Texas


Forum_avatar_avatar-bryanhancock

Pro

Sep 21 '10, 09:10 AM

I found this passage to be the most accurate:

//Quote
The bank's voluntary agreement to accept a discount actualizes the loss that results from originally poor lending practices.
//End Quote

A short sale is the result of POOR LENDING PRACTICES that are encouraged by the government guaranteeing part of the loss. If we would just make people put 20% down and move on with life the problem wouldn't persist!

Banks and the gov-mint whine about "flopping" and a bunch of other crapola when they are to blame for creating the mess. Investors are easy targets and scapegoats for failed lending policy perpetuated by the government!

Small_bullseye_capital_logoBryan Hancock, Bullseye Capital Real Property Opportunity Fund
E-Mail: b.hancock@bullseyecap.com
Telephone: 1-800-577-0401
Website: http://www.bullseyecapfund.com
I help busy people profit from real estate


Bill Patterson

Real Estate Investor · Portage, Michigan


Forum_avatar_avatar-billpatterson

Sep 21 '10, 10:21 AM

Ron Ballard usually has some good stuff on his website. His webinars on short sale fraud are especially good.


Will Barnard

Rehabber · Santa Clarita, California


Forum_avatar_avatar-barnardinc

Donor Pro

Sep 21 '10, 11:12 AM

This has to be one of teh best articles I have read on the so-called "fraud" in short sales.
Most articles lack any foundation or facts for that matter, and prey on readers fear.

This was a great article and should be passed around!

Small_barnardenterprisesWill Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com


Arnold Camps

Residential Real Estate Broker · Seattle, Washington


Forum_avatar_avatar-seattlegogetter

Sep 21 '10, 12:36 PM

Thanks for posting his blog! Tired of encountering agents and other practitioners with their fear based stories of "flopping" when in reality it's "making money"


Richard Graham

Real Estate Investor · Outer Banks, North Carolina


Forum_avatar_avatar-richieg

Sep 22 '10, 01:19 AM

This was a great article for a step in the right direction. Please do not forget to post a reply on Ron Ballard post to help up the ranking of his post so more people will find it organically. And somebody please forward it to that agent that that was here a couple of weeks ago defending his article of lies.


Maryann L.

Real Estate Investor · Methuen, Massachusetts


Forum_avatar_avatar-smitnlit

Sep 22 '10, 01:46 AM

LOL - Richard you forward it to him. He is far too closed minded. He won't get off his soap box.

Remember, he's never worked with an investor, but he knows enough to WARN people not to work with us.

The funny thing about it is the article started off warning people to watch out for investors and ended with him telling other agents not to let investors negotiate their short sales. Of course it was changed several times in the course of writing it. I'll forward it to every agent that calls me with their listings.

I kinda feel bad for him. His close mindedness didn't win any points.


Will Barnard

Rehabber · Santa Clarita, California


Forum_avatar_avatar-barnardinc

Donor Pro

Sep 22 '10, 02:33 AM

So true. There are just too many of these tunnel visionists in this world and many of them are too hard headed to even want to see the light!

Small_barnardenterprisesWill Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com




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