Author Topic: 124 Winslow Ln (The same flipper is coming back again)  (Read 6242 times)

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Offline greenpot168_IHB

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124 Winslow Ln (The same flipper is coming back again)
« on: December 02, 2009, 09:05:33 PM »
EQUITY SELLER!! NOT a short sale or REO. Corporate owned free & clear. Bring your pre-approved buyers and close FAST!! This is beautiful, turnkey home on a quiet greenbelt in the Northwood Pointe tract. All new interior paint. Upgraded cherrywood flooring downstairs,ceramic tile in baths and all new carpet upstairs. Plantation shutters throughout, added central ceiling lights and recessed lights; extensive storage cabinets in garage with workbench. Elegant dining room with fireplace and built-ins. Separate office/computer loft upstairs. Walking distance to canyon View elementary and Northwood High School. Association amenities include pool, tennis courts,playground and sport courts

   

   Please provide pre-approval with scores and proof of funds with all offers.

   Write all offers to Winslow Lane Trust 124. Owners have never occupied home.

   

   Price $500,000

   ASqFt 1,182 Estimated  

   LP/SqFt $423.01

   

   This is the same flipper who flip 29 Grape Arbor with great success

   He list Grape Arbor with LP/SqFt $323.54

   

   The same flipper is coming back, only this time he get more greedy

   He ask for LP/SqFt $423.01, instead of LP/SqFt $323.54

   

   LP/SqFt $423.01 for a tiny 1182 SQF condo !!

   

   All I can say, he is asking way too much this time.

   

   Winslow Lane Trust 124

   

   

   http://www.redfin.com/CA/Irvine/124-Winslow-Ln-92620/home/4791124

   

   http://www.irvinehousingblog.com/forums/viewthread/6072/

   

       

   for more details refer to

   29 Grape Arbor in Northwood II (another flipper listing coming to an MLS near you)

Offline greenpot168_IHB

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Foreclosure Statistics of the Week
« Reply #1 on: December 03, 2009, 10:14:39 AM »
The flipper raise per square feet price from $323 to $423.

   

   WTF ! Increase $100 per square feet in less than 2 month.

   

   -----

   

   BTW. The flipper used to be listing agent himself.

   

   After earning fatty profit from previous flipping

   

   The flipper is so rich now.

   

   He hire a realtor as full time employee under his Gxxxxx Corp.

   

   The new employee work as listing agent for the flipper.

   

   Now the flipper is relieved from listing duty.

   

   He can focus most of time on flipping instead of listing.

   

   

   ---------------------------

   

   On the listing statement, it reads "Listing agent is the owner. Corporate owned free & clear"

   

   Owner is the Seller. The seller himself  is listing agent.

   

   The seller establish a realtor company Gxxxxx Corp.

   

   

   

   So why does he not sell the property as corp-owned under Gxxxxx Corp ?

   

   Instead the flipper list the property under Winslow Lane Trust 124.

Offline greenpot168_IHB

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Foreclosure Statistics of the Week
« Reply #2 on: December 03, 2009, 11:03:05 AM »
As a buyer we need to know the difference between Winslow Lane Trust and Gxxxxx Corp.

   

   Following  is my understanding:

   

   Could anyone tell me whether my understanding is correct or not?

   

   

   

   Winslow Lane Trust will be dissolved after the flipper sold the property.

   

   However,  Gxxxxx Corp still exist after the flipper sold the property.

   

   

   

   

   Before purchase transaction

   

   Winslow Lane Trust net value is $500,000

   

   Gxxxxx Corp. net value is $3,000,000 (hypothetical)

   

   After  transaction

   

   Winslow Lane Trust net value is $0

   

   Gxxxxx Corp. net value is $3,500,000 (hypothetical).

   

   

   

   6 months downn the road, if buyer find undisclosed defect of the property.

   

   He want to file complaint or lawsuit against Winslow Lane Trust.

   

   He will only learn that Winslow Lane Trust does NOT exist anymore.

Offline greenpot168_IHB

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Foreclosure Statistics of the Week
« Reply #3 on: December 04, 2009, 03:55:59 PM »
Here is another listing from the same flipper

   

   27 Secret Garden

   

   3,069 SQF

   

   $949,000

   

   Here is what he said

   "Bring All offers with 30 day Escrow"

   "Please provide pre-approval letter with credit scores and proof of funds with all offers."


   

   

   He want to escrow in 30 days.

   Not to waste any single day of his time.

   He does not care if buyer have enough time to inspect for termites, plumbing, defect ...

   

   All He want is : to load his hands with quick cash.

   

   So he will be ready for next flipping at other cash-strapped buyer's expenses.

   

   .

 

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