It's official, I'm famous...
Admittedly, I want to share this because I'm really excited about being on CBNC, but I do have a legit question for all of you.
Last week, I was interviewed by CNBC (http://www.cnbc.com/id/102537364) for my rehabbing company in the western Chicago suburbs. Diana Olick was awesome by the way!
What is driving me crazy is reading the comments that people posted below the article. Things like "Here we go again. This time these people who get stuck with multiple homes when the market crashes once more should not get an easy way out of it" and "Lets give mortgages again as well as let the predatory lenders lose again. What is the worst thing that can happen."
I quickly get the impression that the general public has no idea of the difference between a flipper (by my definition, someone who takes title briefly and makes no/little improvement to a property) versus a rehabber (someone who makes significant improvements, creates value, takes the worst house in the neighborhood and creates the nicest home). I feel that the average Joe is mad a flippers who bought a house during the bubble, only to take advantage of crazy appreciation, who then complained when they got caught in their trap. Whereas rehabbers are bringing tremendous value into an area that would otherwise be blighted by dilapidated, abandoned homes.
I'd like to hear your thoughts on how to educate the masses on this key distinction, as well as any other opinions on flipping vs rehabbing or other terms that are used in your area.
-Ben