Charlie Ferrara's List: Think About It

• • Although, you must check the actual value of the property. One shouldn't penalize a seller or buyer buy stopping a sale because a seller sold low and a buyer was going to make a profit.   Take for example a seller who cannot make the payments any longer, is in danger of foreclosure.  If the seller can sell and avoid foreclosure, isn't that a benefit?  Should that seller and buyer be stopped from completing a sale?  What would happen then? The bank, or the friends of the bank, will make the profit.  Think about it.
• Land or property flipping (as distinct from loan flipping which is repeated refinancing by predatory lenders) happens when property is purchased and quickly resold for a large profit, after little or no meaningful rehabilitation.
• In Baltimore, 2000 properties were resold within 120 days in the past four years for at least twice, and sometimes up to ten times, what the seller paid. According to the Cleveland Plain-Dealer, 1000 flips, worth more than $31 million, have occurred there since 1997, about 80 percent in the lowest income East Side neighborhoods.

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