I think their term of "flipping" is referring to the speculative "investors" that put deposits down on homes, then sold them months later for 5 digit or 6 digit profits."

Changes in your available credit to current balance ratio will not be updated immediately in the month the payment is made and can take anywhere from 30-60 days to get updated by all three bureaus...The only way you can guarantee an "immediate" change to both your credit balance ratio and score is to do a rapid rescore (in tandem with a financing event---rescoring can only be done by lenders).Regards,Scott MillerOriginally posted by "beekrock":Thanks, guys!

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The ones in Texas may also have had higher expenses due to the higher property taxes there.In any event, I think assuming 45% (or 50%) without doing your due diligence on the specific property can be dangerous.

The owner also refuses to expand in bringing in new alcohol, new music, more gambling machines, or new events. this would probably bring in $50,000 more each year.

Scott told me that I would have to pledge the 401(k) as collateral and that the bank could reach it in the event of a default.

Welcome to the Boards We have networking events all over Greater Chicagoland.

You can't just simply buy a house slap paint on it, new landscaping, floor and expect to sell it for 5 digit profits.We all know that the subprime fallout has caused lenders to force many into foreclosure, these numbers are only expected to grow through the next 1-3 years.So would it be wise to think if you were looking to get into the flip market that these foreclosures would have the potential to be a profitable investment?

I am a mortgage broker in FL; in the event you are asking.

I work in 100+ and single digit temperatures.