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# Bud Cooke said on June 4, 2008 10:17 AM:

As the listing real estate agent, I sold this home in 4 days to another cash investor. I had decided not to purchase the home myself since it did not meet my investment profit criteria. I assumed that the agent representing the investor buyer had been working with a "buy and hold" investor since the local comparables only provided for about $10,000 potential profit at this time. With values declining, there was too much risk involved in trying to flip this house.

Guess what; the investor thought he could flip it all along. He now has it listed at less than $20,000 more than he paid for it. It appears he is selling for a total of 6% commission, leaving little more than $8 or $9,000, IF sold at list price. We all know that nothing sells at list price in this market unless it is really price right to begin with. It's not.

My point is, if you are going to invest, do good due delignece before you make an offer. Otherwise, be prepared to change your investment strategy

Bud.

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