Flippers back?
If you are making money flipping houses, I want to hear your story.
Big-time investors are snapping up whole neighborhoods now in some of the nation's more distressed real estate markets.
Check out this article on Oakland, where more than 40 percent of foreclosures have been snapped up by investors.
The Boston area has certainly had its share of foreclosures, yet nothing along the lines of the mass distress seen during the bad old days of the housing bust in Las Vegas, Phoenix and Miami. (Nationwide, foreclosures made up 26 percent of sales in the first quarter, according to RealtyTrac. By comparison, foreclosures accounted for just 12 percent of all Q1 sales in Massachusetts.)
That said, there are lots of smaller, mom-and-pop operators out there, snapping up foreclosed ranch houses in Framingham or Marlborough as well distressed triple-deckers in Dorchester, Roxbury and Mattapan.
In fact, it's having a bigger impact on the local housing market than many realize, especially with inventory levels of unsold homes dropping.
So if you've bought a house to flip it or rent it out, let's hear the details, including some relevant links.
For that matter, if you've seen a flipper or two at work in your neighborhood, feel free to share that with the rest of us.
I've got one at work down the street from me in Natick trying to unload a foreclosure special after a flurry of renovations. So far, it is just sitting there.
And of course, flippers, don't be shy. If you are proud of your real estate prowess, here's your chance to shine! Just be ready to back it up with facts instead of boasts.
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