The Flip

Book excerpt: During the first six years of this decade, the promise of quick profits coupled with risky decision-making led people from all walks of life to risk everything in the real estate investment market. Houses were flipped from investor to investor; it was a billion-dollar game of musical chairs. D. Sidney Potter ate, slept, and breathed real estate flipping from 2002-2007. Based in Pasadena, California, he was at ground zero when the real estate bomb exploded. From the mind-blowing profits to the collapse of a paper empire, Potter was a firsthand witness to the fallout of the real estate bubble.The Flipis an inside look at the actions and strategies behind the housing bubble and its aftermath. Potter explores well-tested strategies for success in real estate, as well as giving an in depth account of the risky behaviors that can lead to losing it all.