It seems that a lot of the recent loft resales are sounding more and more like the above. Someone asked me today, "can a loft that has just been flipped still be a good deal?" I guess they can. I've seen some lofts that have been totally profitable after less than a year of occupancy and still be priced below market. What a bargain!
My concern with the growing number of speculative flipping is more for any adverse effect it has on the long term goal of building a stable neighborhood in downtown/ downtown west. Real estate investing is great too, but another question lies with the cost of home ownership to the "end user."
What I can say is that there wouldn't be nearly the selection of available lofts if no one tried to flip them. We shall see what happens when all the lofts slated for completion next spring start popping back on the re-sale market.
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