TO SHOW how horrific FLIPPERs are and how they hurt everyone--
Kevin Kemper
Master's degree at California State University-Sacramento-creator of "Upside down income statement" and WOW Factor.
They sweet talk sellers. They add 100-200 % for their repairs--not illegal but then they want to raise the price of houses to cover that and those houses BECAUSE OF THE SIZE OF THE HOUSE AND ITS LOCATION--NEVER EVER makes the house worth its new asking price--which hurts everyone. And the houses begin dropping in value and price after the first month and they continue to do so for 1-2 yrs till the house is finally for sale at a reasonable price--15-25% for repairs. There are two wood houses with white paint that are worth $85,000 and they are on the market for $500,000 to see who is stupid enough to pay that price. When a nut case buys it and x months later, can't afford it, the bank will sue them and the failing owner will have bad credit for 7 yrs.
ALL because flippers NEED TO SCREW EVERYONE.