Financing the Flipping Dream: Alt-A Mortgages and California Mortgage Equity Giants: Number one Alt-A Owner Occupied State is California. Say What? Alt-A and Pay Option ARMs Fueled out of State Buying.
June 10th, 2009
Back when the housing bubble was still a theoretical argument, I was making the case that many California aspiring real estate moguls were buying properties out of state with the intention of flipping. I would look at some of their worksheets and they paid no attention to the cost of financing or expenses since they figured that they could sell their home in one or two years. This was so common that it became a joke and I started calling these investors California Equity Giants. Many of the
