Please take the time to view the DVD about the flipping of houses in Buffalo, NY. Many more houses are now vacant in Buffalo as a result of flipping. Some estimate that the total number of vacant structures in Buffalo now exceeds 16,000.
I recently viewed the flipping DVD thanks to one of our Forum members. The problem of flipping is also happening in the city of Youngstown. Buffalo is trying to take the lead in solving the problem. How does the Youngstown city administration plan to tackle this urban decay issue?
I have the DVD Flipped. I watched it and it is a real eye opener. If someone would like to watch it please send me a message and I will try to get a copy to you. Watching the DVD I could not stop thinking how much the houses resemble homes in Youngstown. I easily found around 200 properties in Youngstown owned by people out of state.
Below are just a few. I tried not to list mortgage companies. There were so many I found it is hard to keep track of all of them.
909 Rigby Houston, TX 11,174 07/27/06
728 Roxbury Louisville, TX 20,000 06/21/07
3106 Rush Los Angeles, CA 32,000 03/09/07
620 Samuel Flushing, NY 21,105 09/22/06
216 Saranac Villa Park, CA 15,300 05/02/07
306 Scott Covina, CA 16,885 12/02/06
1480 Shehy Covina, CA 16,885 01/10/07
1566 Shehy Baldwin, LA 12,500 07/21/06
330 Sherwood Bulimda, QLD UK 10,900 06/20/07
413 Sherwood Ventura, CA 14,300 07/13/06
419 Sherwood Sacramento, CA 11,800 12/05/06
1488 Stewart Colorado Springs, CO 10,522 01/29/07
558 Sunshine New Egypt, NJ 18,000 06/05/07
1018 Turin Evanston, WY 11/02/06
227 Upland Morgantown, WV 17,000 06/21/07
2664 Volney Sierra Vista, AZ 9,995 02/08/07
581 Warren Winter Springs, FL 12,000 04/12/07
Not all are vacant but I am sure some are. Some of the people probably do put some money into them for rental.
Doing some research on the internet I found the following comment:
"Online flipping is happening in economically distressed cities in New York, Ohio, Michigan and Pennsylvania. The practice, local government leaders say, is destabilizing already weakened urban neighborhoods by displacing legitimate investment."