{"id":18259,"date":"2021-06-25T07:16:50","date_gmt":"2021-06-25T14:16:50","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=18259"},"modified":"2021-06-25T07:16:50","modified_gmt":"2021-06-25T14:16:50","slug":"overnight-news-the-so-called-ibuyers-are-actually-eflippers-and-someday-soon-theyll-learn-what-its-like-to-work-in-real-estate","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18259\/overnight-news-the-so-called-ibuyers-are-actually-eflippers-and-someday-soon-theyll-learn-what-its-like-to-work-in-real-estate\/","title":{"rendered":"Overnight News: The so-called iBuyers are actually eFlippers \u2013 and someday soon they\u2019ll learn what it\u2019s like to work in real\u00a0estate."},"content":{"rendered":"

\"Ya

\u201cWhen the task is really challenging \u2013 that\u2019s when you know the reward is not just a\u00a0hand-out.\u201d<\/p><\/div>The secret to flipping houses is suckering the seller. True fact.<\/p>\n

If you do rehab or upgrades, you may recoup about double your outlay. That’s a profit margin, but not much of one. There are no more sucker-bait buyers, so you can’t sell high. So the big bucks come from buying low.<\/p>\n

I expect there are very few homeowners who sold to flippers \u2013 or to iBuyers, who actually should be called eFlippers \u2013 in 2021 who do not regret their choice, having watched their neighbors do so much better by listing.<\/p>\n

The good news is that ordinary flippers and eFlippers have to pay more and more, just to be able to buy anything. The eFlippers, in particular, have convinced themselves that they are suddenly good at real estate, because they can actually move inventory in a whirlwind of demand.<\/p>\n

Has that whirlwind died down? We’ll see. But if it has, real flippers will find it easier to buy low \u2013 while the eFlippers will find out what it’s like to work in real estate.<\/p>\n

In other news:<\/em><\/strong><\/p>\n

Redfin.com:<\/strong> iBuyer Home Purchases Inch Back Toward Pre-Pandemic Levels.<\/a><\/p>\n

Housing Wire:<\/strong> Mortgage rates jump back up to 3.02%.<\/a><\/p>\n

Redfin.com:<\/strong> Housing Market Update: Homebuying Demand Slipped Below 2020 Levels for the First Time This Year.<\/a><\/p>\n

City Journal:<\/strong> Stop Extending the Eviction Moratorium: It\u2019s a heavy burden both for landlords and for tenants who play by the rules.<\/a><\/p>\n

Housing Wire:<\/strong> Biden renews foreclosure ban.<\/a><\/p>\n

Julie Kelly:<\/strong> Deprogramming of January 6 Defendants Is Underway.<\/a><\/p>\n

Christopher Rufo:<\/strong> Exposed: The Washington Post\u2019s attempt to smear me and my work on critical race theory fails spectacularly.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cWhen the task is really challenging \u2013 that\u2019s when you know the reward is not just a\u00a0hand-out.\u201dThe secret to flipping houses is suckering the seller. True fact. If you do rehab or upgrades, you may recoup about double your outlay. That’s a profit margin, but not much of one. There are no more sucker-bait buyers, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,6,5],"tags":[],"class_list":{"0":"post-18259","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17955,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17955\/overnight-news-big-budget-ibuyers-manage-to-suck-even-worse-even-in-the-easiest-real-estate-market-ever\/","url_meta":{"origin":18259,"position":0},"title":"Overnight News: Big-budget iBuyers manage to suck even worse \u2013 even in the easiest real estate market\u00a0ever.","author":"Greg Swann","date":"March 11, 2021","format":false,"excerpt":"There's iBuyer news today \u2013 half truth, half lies \u2013 but, as usual, the big news is missing: The big-budget iBuyers are by-now swarmed by many, many mini-iBuyers. Hardly anyone knows how to build a magnetic website, but lots and lots of people know how to flip houses. Here's more\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18740,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18740\/opendoor-shows-the-world-how-the-ibuyer-idea-will-die-death-by-days-on-market\/","url_meta":{"origin":18259,"position":1},"title":"#OpenDoor shows the world how the #iBuyer idea will die: Death by Days-on-Market.","author":"Greg Swann","date":"July 13, 2022","format":false,"excerpt":"Ask any old-timer in real estate what's wrong with the iBuyer idea and he'll tell you right away: \"What happens when the market turns?\" It would be charitable to argue that the iBuyers actually thought this mishegoss would work. Perhaps that's so: They're flippers, except they are very bad at\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=700%2C400 2x"},"classes":[]},{"id":18500,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18500\/overnight-news-if-you-got-beat-by-an-ibuyer-you-deserved-it\/","url_meta":{"origin":18259,"position":2},"title":"Overnight News: If you got beat by an iBuyer, you deserved\u00a0it.","author":"Greg Swann","date":"September 25, 2021","format":false,"excerpt":"Linked below, there is apparently a TikTok video of a real estate agent accusing iBuyers of nefarious market brilliance. He's in Nevada, where Florida goes to blow its reputation for probity, so that alone may explain his conclusions. Mine are the opposite: The iBuyers are terrible marketers. They buy low\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17336,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17336\/the-ibuyers-are-super-good-at-mulcting-buyers-agents-with-science-thats-why-they-cant-price\/","url_meta":{"origin":18259,"position":3},"title":"The #iBuyers are super good at mulcting buyer\u2019s agents with science. That\u2019s why they\u00a0can\u2019t\u00a0price.","author":"Greg Swann","date":"October 20, 2020","format":false,"excerpt":"Mike DelPrete is worth reading, so long as you understand that, like The Inglorious Knob, he is one with The Borg. Just lately I mentioned that the iBuyers in Phoenix are nicking buyer's agents for commission \u2013 which is just the kind of dick move you expect from financially-inept sociopaths.\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/aidan-bartos-v9rZ3Yz6fSg-unsplash-1-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18028,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18028\/overnight-news-if-ibuyers-sell-slowly-and-weakly-in-an-impossibly-easy-market-how-much-worse-will-they-do-when-the-worm-turns\/","url_meta":{"origin":18259,"position":4},"title":"Overnight News: If iBuyers sell slowly and weakly in an impossibly-easy market, how much worse will they do when the worm\u00a0turns?","author":"Greg Swann","date":"April 7, 2021","format":false,"excerpt":"Real estate is kids and dogs, but real estate sales is entrepreneurs. I was interviewed yesterday on the future prospects of the big-name iBuyers, whose numbers are everyday augmented by many, many no-name iBuyers. I'm a bear, of course. When the market turns, the slow-selling pontificating poindexters will discover why\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":16574,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16574\/ibuyers-and-me-you-need-a-realtor-like-you-need-an-undertaker\/","url_meta":{"origin":18259,"position":5},"title":"#iBuyers and me: You need a Realtor like you need an undertaker!","author":"Greg Swann","date":"December 2, 2019","format":false,"excerpt":"Pardon my absence. More work means less time to write about it. I\u2019ve been writing a ton about #iBuyers, actually, but I\u2019ve been doing it from iBuyerSpy.com. I encourage you to pursue my work there, and I vow to share some of it back here, as well. Here\u2019s a sample\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=18259"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18259\/revisions"}],"predecessor-version":[{"id":18260,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18259\/revisions\/18260"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}