I have seen a small amount of that in the Austin, TX area, but not as much as you would think. The only flippers that are in that situation are the one's who got in over their head or didn't do the right amount of research. If you need help flipping in and around Austin TX contact me, I'de love to help
Most of these flippers were first time investors who got in over their heads and are now trying to avoid foreclosure. Most of the seasoned investors/flippers have been sitting on the sidelines for the past couple of years and are just now getting back in the market.
Being a landlord can be a great move, but it can be quite an responsibility. It's not something you should stumble into.
The only flippers that are in that situation are the one's who got in over their head or didn't do the right amount of research.
As far as flippers becoming landlords in the Chicagoland area, I think that this is more previlant in the suburban markets as well as the condo markets where the building is saturated because it was not a good project to begin with. In many condo buildings, the bylaws will only allow a certain number of condos be for rent to maitain prices and to ensure that the property is well maintained. I am seeing that condo associations are raising the limits on rentals as foreclosures rise to ensure that they can continue to get the monthly assessments. Better to have renters than vacant foreclosed properties, i guess.
Commenting by HaloScan
