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Robert Irwin
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The Flip Side of Flipping
Many investors were burned this year and last by the falling real estate market. Playing the previously profitable flip game that started in about 2002 (where they would buy at a moderate price, then quickly resell for a profit at a higher price), these flippers suddenly discovered they were in trouble. Real estate they had …
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REO or Pre-Foreclosure?
That’s the big question for many investors looking to buy foreclosures – Should I buy an REO (bank owned property) or a pre-foreclosure (still owned by borrower, but in default)? How you answer that question can determine how easy or how difficult a time you have with your foreclosure investment. Most investors, your author included, …
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A Modest Proposal for Curing the Housing Crisis
Nine billion for IndyMac bank, 80 billion for Fannie and Freddie, 60 billion for AIG, hundreds of billions more for an RTC-type fix – as Everett Dirkson (former Senate leader) used to say, “A billion here, a billion there, and pretty soon you’re talking about real money!” With the number and size of government bailouts …
