“How much would you overpay to proudly say you ran a relay?”
“That’s not really iBuying!” the iBuyers will shout – and it’s true. It’s flipping Homevestors.com-style – Ug’s uglier offspring. What do you suppose those ads are doing to buy-side prices? How are they affecting the ability of the “real” iBuyers to acquire properties to lose money with?
(Insider’s tip: For now, at least, buy wholesale and fix ’n’ flip to the iBuyers. They need product, and they’ll pay a competitive ROI to get it. DOM is their doom but your deliverance: Shed that puppy, then rinse and repeat.)
I’ll have more to say about iBuyers in due course, but I’m less and less interested. It’s a business built on churn, which is just stupid – and I mean like Bitcoin stupid, the supposed added economic value of entirely-useless efforts. For now, people who can actually make money flipping homes are popping up like mushrooms under the iBuyer marketing buzz. Eventually the market swing is going to slaughter the iBuyers – who already make mistakes by the thousands in the easiest resale market ever. People who are good with computers are typically lousy with everything else – especially people. Only people who are good with computers are astonished to learn this news.
Mike DelPrete: iBuyer Market Share Set to Drop By Half in 2020.
New York Post: Giant New York rats overtaking Central Park and the Upper West Side. Don’t call them rats. They’re Cuomos. Utterly Emmy-worthy. To be fair, we had a similar situation with rabbits eating out the wiring in our cars. We solved the problem by moving to a neighborhood with more coyotes.
Joel Kotkin: The End Game.
Tyler O’Neil: Biden Is Crowdfunding His Own Transition. Now, Do the Federal Government.
The Federalist: Joe Biden: Why Are Reporters Asking Me Questions?
Michael Fumento: If We Want People To Accept A COVID-19 Vaccine, We Should Stop Lying To Them About The Disease.
The American Spectator: Trump Won the Battle Against Coronavirus, Bigly.
Dana Loesch: Politicians Aren’t Canceling Their Celebrations And Gatherings, And Neither Am I.
Senator Tom Cotton: Sen. Tom Cotton: It’s the 400th anniversary of the Pilgrims’ arrival. Why haven’t we heard more about it?
New York Post: NY company makes window stickers of Cuomo watching over your Thanksgiving.
