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View Diary: Concerning the Great Housing Rebound (26 comments)

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  •  A lot of these companies are buying houses, (3+ / 0-)
    Recommended by:
    Rizzo, gjohnsit, worldlotus

    handing them off to general contractors  for 30 days to rehab (cosmetics mostly) and flipping them

    Good money to be had for them.

    Prospective buyers BETTER have excellent inspectors because the "repairs" often mean masking serious problems (like painting over evidence of severe water damage), and they don't disclose anything, even though it's required in many states.

    © grover

    So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

    by grover on Thu Aug 23, 2012 at 04:32:09 PM PDT

    [ Parent ]

    •  Yeah that too. (0+ / 0-)

      But what I was talking about is different than flipping, it's remote management companies. Some of these are also working for the banks, renting foreclosures BTW.

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