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I've been screaming about the OpenDoor's and RedfinNow's of the world for several years. These are in effect payday lenders for homes, dangling low all-cash off

I've been screaming about the OpenDoor's and RedfinNow's of the world for several years. These are in effect payday lenders for homes, dangling low all-cash offers to entice desperate sellers to hit the bid quickly. Ironically, these companies manage to lose money anyway, perhaps yet another sign that SFH's weren't meant for this. Incredible that even after 2008, we have yet to really learn that the financialization of people's homes should be pretty darn close to a non-starter.

throwway120385 4y ago
Yeah these scumbags constantly text you and send you fake handwritten letters about your house to try to entice you to talk to them. My partner and I were getting A LOT more of them when interest rates were low. She took a "course" once on flipping houses when she was younger and honestly the whole idea of flipping is scumbag central, with "wholesalers" and "lead generators" whose whole business model is to convince people to sell for less than they could get in a proper real-estate transaction. Basically the course boiled down to "find some rich relatives to con for investment money" and "look around your neighborhood for old people or people who just lost their job and give them lowball offers."