/biz/ - Business & Finance

>7.5%
Imagine the smell of how many of those sold for a loss

>3-year low

wow it's fucking nothing

>>52885209
the soothing sound of Zestimates flowing down Crimea River. Let us hear your screams.

>>52885370
Its like you have no idea what is going on.

>>52885209
The amount of houses brutally raped by methheads and spics with shitty tile and plastic backsplashes and grey paint is a fucking crime against humanity. Every 60 iq retard with pick up truck and ok credit got into this game in the past five years.

>>52885467
Underrated post. Describes the entirety of the flipper phenomenon. Imagine being one of the clueless fools that bought one of those shitty houses. The absolute state of those tards finding out their house is joke and its underwater.

>>52885209
>>52885247
I'm still priced out. I don't care

>>52885209
God, I hope they lose it all and become, ironically, homeless.

>>52885467
I blame hgtv

>>52885209
Don't care, just closed on another flip opportunity that I will easily net 50k on

>>52885209
Retards expect unlimited rich people buying homes. Eventually, you'll run out of greater fools.

>>52885209
do the last flip when you jump off the bridge

>>52886311
post proof or didn't happen

I just bought a house for 150k last week. I spent $2k getting it cleaned out. Realtor is listing it next week for 225k. Not a larp. Good school districts are kino.

>>52885530
try gettin a job

>>52889159
i believe you
i also believe it won't sell and will get its price cut again and again and again :^)

>>52889189
Oh no I’ll only make 30k instead of 50k. I’m so depressed.

>>52889301
try -30k :^)

>>52889159
>Realtor is listing it next week for 225k
LISTING
what you paid is public record

>>52889323
Tel me you don’t understand how flipping works without telling me you don’t know how flipping works.

>>52889307
I’ve already been offered 175k by one of my buddies who wants a rental. I turned it down. :^)

>>52889374
flipsisters. not like this

>>52885209
>home flippers get burned
Good.

>>52889390
yeah i'd make up stuff too if i was getting BTFOed on the internet :^)

>>52889450
Keep this thread going for a few weeks and I’ll let you know what I sell it for. I’m budgeting a 54k profit after all my fees.

>>52885209
>In the third quarter, gross flipping profit, which is the difference between the median purchase price paid by investors and the median resale price, dropped to $62,000
Oh wooow, only 62k in profit? Poor flippers :(

>>52889499
>this steep downward trajectory will surely reverse in 2 more weeks

>>52885209
I am trying to buy a shit shack for my family and I got a MH that was bought in Sept for $130k yanked out from under me for $250k in three days.

>>52889499
That Brand new Rang Rover and F350 Supper Duty isn't going to pay for itself.

As a full time flipper for the last 10 years I have known this collapse was coming so I have been very conservative on my offers. I did get burned on two deals that I got under contract before interest rates went up and then sold afterwards. I expected to make 40k on one but I ended up only making 18k. The other one I expected to make 25k but I’ll only make about 5k. This just means that I’ll have to be even more conservative in my future offers. Being a flipper actually makes more money during recessions because more people are desperate to sell. When there are fewer buyers available I can get deals for an even lower price. I’ll recoup my current losses on future deals.

>>52885467
its a fucking nightmare these faggots have ruined every starter home and inflated the market like crazy

>>52889741
>this collapse was coming
it's here

>>52889903
these are all multi million dollar homes who cares

>>52889903
I’m not in a major metro so I’m not flipping 2 million dollar houses. 250k is the top of my range. Most of them are 80-120k.

>>52885209
good. home flippers are parasites.

t. homeowner. but I dont plan to sell, I'll just rent it out once I move on. it might put downward pressure on rent, but I think home ownership is important for a society to function

I bought a 600k home in early 2021. it's still worth 690k currently

the truth is the reason prices have dipped is because rates are ATH. what do you think happens when the rates start coming back down? if you didnt buy during the generational bottom of interest rates you may well be priced out forever

>>52890023
I’ll buy when they announce they are cutting rates. By then I’ll have six figures in waiting to get rent from some people each month as passive income. Don’t want to deal with renters though so I’ll just pay the 15% fee or whatever to have a company handle maintenance and everything for me.

>>52889741
You must not be in canada because we literally aim to make 10x that amount on a house.
If you actually do no shit work and truly renovate something that was un-rentable then you can still make money, but if we unironically only make 30-40,000 CAD on a flip we don't do it.

>>52885467
Based low IQ chads getting that paper while high IQ complainers seethe

>>52890377
I’m in a medium sized market. 20-50k is about as much as you can make one a deal here. I did buy a 6 house package last year that was about to go to the tax sale and sell them as is for a 100k profit, but that doesn’t happen every day.

>>52890023
yup

>>52890310
is it 15% now? I could have sworn it was 10% a few years ago. and do they keep the money on hand to actually repair things, or do they bill you for repairs?

>>52889944
every other home on the west coast is a "multimillion dollar home"

Even the game version is on sale!

>>52890023
>$90k nominal
Adjust those gains for inflation. The Fed always get the last laugh.

>>52891115
this anyone but greenspan says this people just call you a retarded conspiracy theorist

>>52890023
> worth
You're a tard

>>52890377
Only because prices were rising, they are now falling. Canada is fucked.

>>52885467
Good you fucking landlord faggot. I hope you hang yourself when all your extra homes are worthless and youre still locked at some insane rate.

>>52889741
Kill yourself

>>52891440
Why? Because I found a way to make 6 figures in my spare time?

>>52890023
>ATH
all time high?

>>52889958
>I’m not in a major metro
where

>>52891593
Calcutta

>>52889159
cool story bro, after paying the realtor and capital gains taxes you'll net what..$15k. Wow you're a genius you must be filthy rich you fucking faggot

>>52891518
actually THIS high

>>52889403
>3.3M for that
You can buy a house 3x the size with dozens of acres in a far nicer town in most of the US. Jfc the state of coastcucks.

Zestimate Stacy.... I'm so sorry

>>52889741
good for u man u sound like u know what u are doing. idk why i just got deja vu

>>52892269
Closer to 35k. Not bad for about 3 hours of work I’d say.