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Forums » Bulk REO Discussion and REO Dealmaking » Has anyone heard about this ?

Has anyone heard about this ? Subscribe to Has anyone heard about this ?

5 posts by 3 users

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Juan Michael

Real Estate Investor · Los Angeles, California


Forum_avatar_avatar-phatdizzle

Icon_minipost Jul 02 '08, 12:33 AM

Hello Everyone,

There has been a lot of scuttlbut in regards to NEW LAW that requiring FLIPPERS of BULK REO packages to hold this property for approximately 300 days prior to reselling it. I have not been able to verify this at any level and was curious as to know if anyone else has heard this.

Please give me any info....... My thoughts are, if this is true, then it changes the EXIT STRATGY to that of a BUY & HOLD ..... Which is a slight benefit, since banks are not playing the OFFER ANYTHING and i'll take it game. They have really been sticking to their guns as of late.

:superman:

Edited: 06/26/2010 at 05:26AM


Bart Nakielski

Residential Real Estate Agent · Scottsdale, AZ


Forum_avatar_avatar-azrealtor1

Icon_minipost Jul 02 '08, 01:21 AM

I personally think that's a bunch of fluff, it would be a sure way to kill the market and lazzie fare issue. I heard adaptations of this law ranging from 100-500 days, I wouldn't take it seriously it may be another rumor set out there to make buyer's move faster.

Edited: 06/26/2010 at 05:26AM


Juan Michael

Real Estate Investor · Los Angeles, California


Forum_avatar_avatar-phatdizzle

Icon_minipost Jul 02 '08, 01:25 AM

Excellent point........ Kinda though it was Fluff at first...... But i've heard it 5-6 times over the last week from just as many directions.

Buyer urgency !!! Not a new concept..... Hadn't thought of that in this case......... thx

Edited: 06/26/2010 at 05:26AM


Christopher Lippincott

Real Estate Consultant · Little Town, Oklahoma


Forum_avatar_avatar-oklahoma1

Icon_minipost Jul 02 '08, 04:48 AM

Flipping gets you blacklisted........there's no law that says you can't sell something you bought.

You can get away with reselling 5%-10% and stay in good graces with the seller. We normally request that buyers have a minimum 180 day hold business model as we are the ones doing the intro and don't want to be associated with the " flipper" mindsets

Reputations are everything!

:beer:

Edited: 06/26/2010 at 05:26AM


Juan Michael

Real Estate Investor · Los Angeles, California


Forum_avatar_avatar-phatdizzle

Icon_minipost Jul 02 '08, 07:04 AM

Thx Chris,

Good to know info........ I thought the same thing is regards to selling something YOU own...... But good point on the 180 day hold policy.... seems VERY reasonable.

I posted this hoping you would chime in.........

Edited: 06/26/2010 at 05:26AM


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