Friday, December 08, 2006

Flippers In Trouble FAQ

What is a Flipper In Trouble?
A Flipper In Trouble (FIT) as defined on this site, is somebody who bought a house within the last two years and is selling it now for less than what they paid.

Where does the data come from?
I take current listing prices and compare them to previous sales data.

I found an FIT that you don’t list. Why didn’t you catch it?

The process I used to gather the listings is automated, and some filtering is done to make sure the listings are accurate. The goal is not to catch every FIT, but to provide accurate, provable listings.

A listing on your site is not really an FIT. How did this happen?
Although every effort is made to filter out errors, there are some mistakes in the data (split lots, county record errors etc), that are difficult to catch. If you find one like that, let me know and I’ll make every effort to remove it.

Why are you doing this?
The primary purpose of this site is to counter the positive spin the real estate industry puts on real estate investment. This site provides concrete examples of serious real estate investment mistakes. Hopefully, it will dissuade others from following the same path to ruin.