I was a real estate broker for 6 years. Zillow bit off WAY more than it could chew when it starting trying to flip houses. There is a reason why institutional investors want multi-family units. It's impossible to manage, repair, and ready the single family properties for sale. What they learned the hard way is that there is no reliable way to screen contractors across state lines OR convince the good ones to do anything for you.
Someone figured out that the costs will far outweigh the profits so they are pulling the plug on a dumb idea.
I was a real estate broker for 6 years. Zillow bit off WAY more than it could chew when it starting trying to flip houses. There is a reason why institutional investors want multi-family units. It's impossible to manage, repair, and ready the single family properties for sale. What they learned the hard way is that there is no reliable way to screen contractors across state lines OR convince the good ones to do anything for you.
Someone figured out that the costs will far outweigh the profits so they are pulling the plug on a dumb idea.
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