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The Blackstone Group L.P. Message Board

  • tlee22202 tlee22202 Jan 8, 2014 1:48 PM Flag

    Just on CNBC

    Blackstone was one of the major buyers of homes at Tuesday's auction in Georgia. CNBC went for a first time look at one of the sold homes with the buyer (they were all purchased sight unseen). This particular house was bought for $80k. It actually looked like a nice home having an attached garage. They said the buyer plans to spend around $20k to fix it up, get a renter, and then sell it to an investor for around $130k. NIce profit if they are able to make 33% on a quick turnaround. Has anyone here seen the TV show Flipping Vegas? They try to do the same flip for each home in less than one month.

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