Why play with pennies when the big bucks are made with real dollars...
Check this flipper out..
Marjorie Patterson from San Diego CA.
She has 2 flips working
16795 East Lake Drive, Aurora
Originally listed 04/14/2004 $762,000..lowered to $749,000..$735,000
Relisted 11/09/2005 $800,000
Finally sold 02/20/2006 $796,600
Flipper #1 relists this McMansion
Relisted 03/10/2006 $925,000..lowered to $825,000
Marjorie, flipper #2, buys her castle for $930,000---$100,000 above list price
Flipper #2, Marjorie relists this flip 01/02/2007 $969,000
Marjorie has a first and second on this with a monthly payment of approximately $6,300.
No wonder she can't afford to water the lawn.
Its begining to look alot like southern CA around here.
Good luck Marjorie your going to need it.
Marjorie's house looks alot like the other foreclosures on this block, except her home is not foreclosed YET. Marjorie lives in sunny CA so she may not be aware of what her home and her block looks like.
She may not know that 16712 East Lake Drive recently sold for $705,000 after being on the market for 514 days. 16712 was built by the same builder as her home, Golden Design.
Funny thing that Marjorie closed on her 2 flips on or about the same day. That was sly on her part, she kept her ratios clean and kept any nosey underwritter from killing either one of her deals, although that might have been a blessing.