We ran into a California flipper trying to flip a mile high.
Meet Marjorie Patterson from San Diego, CA 92111
She brought her talents of flipping to Aurora, CO.
This is her flip #1
Originally listed $575,000 3/13/2005...
Sold 07/25/2005 $664,000 Builder upgrades?? who knows.
Flipper #1 relists this home 04/05/2006 $759,000
Marjorie, flipper #2, pays $740,000 on 10/27/2006(about the same day she closed on flip #2)
Flipper #2, Marjorie, relists her castle 01/02/2007 $870,000
Several price reductions and now listed for $799,000
Her first and second are costing her approximately $4,500 per month.
Looks like at this point there is zero profit on this flip and headed negative soon.
See Marjories flip #2.....
See Marjories flip #2.....
4 comments:
Did flip#2 occur after flip#1? The $100,000 over asking price is classic fraud behavior.
how much did Marjorie put down on each home?
would be interesting to work backward and see if Marjorie did some HELOC back in SD to buy these homes.
Our flipper closed on these 2 props withiin 2 weeks of each other. Roxbury has 1st $592,000 and 2nd $148,000. Lake has 1st $744,000 and 2nd $186,000. Seems our flipper is feeling the love now...tick, tick, tick
Scummy Californicators...oops, I still live in California. What makes me mad is that the flippers keep selling among themselves and driving up the price of housing for the people that just want to live in them.
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