Reality-star-turned-fraudster highlights the risks of house flipping

Recession fears could lead to some harsh realities in the house flipping marketA combination of low interest rates, tight inventory and a booming economy has created near-ideal conditions for house flippers who buy property, fix it up, then sell it for a quick profit. Denchfield says he has been flipping homes since he was 17 (he is now 25). Data from the first three months of this year suggests the flipping market has already begun to cool off. Flippers turned around more than 49,000 homes in t


Recession fears could lead to some harsh realities in the house flipping marketA combination of low interest rates, tight inventory and a booming economy has created near-ideal conditions for house flippers who buy property, fix it up, then sell it for a quick profit. Denchfield says he has been flipping homes since he was 17 (he is now 25). Data from the first three months of this year suggests the flipping market has already begun to cool off. Flippers turned around more than 49,000 homes in t
Reality-star-turned-fraudster highlights the risks of house flipping Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: scott cohn, ajcasanova, getty images
Keywords: news, cnbc, companies, getting, highlights, house, sales, flipping, realitystarturnedfraudster, real, quarter, recession, market, homes, risks, flippers


Reality-star-turned-fraudster highlights the risks of house flipping

Recession fears could lead to some harsh realities in the house flipping market

A combination of low interest rates, tight inventory and a booming economy has created near-ideal conditions for house flippers who buy property, fix it up, then sell it for a quick profit. But prospects of a recession could quickly change that equation, experts warn.

“We’re certainly reaching the top of the bubble,” said Taylor Denchfield, a Washington, D.C.-area real estate broker, in an interview with CNBC’s “American Greed.”

Denchfield says he has been flipping homes since he was 17 (he is now 25).

Data from the first three months of this year suggests the flipping market has already begun to cool off.

Flippers turned around more than 49,000 homes in the first quarter, according to real estate research firm Attom Data Solutions. That represented 7.2% of all home sales for the quarter, which was the highest rate since 2010. But profits from those sales declined by nearly 10% from the same period one year ago. The average return on investment — 38.7% — was the lowest since mid-2011. And the number of flippers dropped 11%.

“Investors may be getting out while the getting is good, before the market softens further,” said Todd Teta, chief product officer at Attom.

But Denchfield said that is no reason to panic.

“There is still some money to be made, but you have to be a lot more diligent in the deals that you’re doing today,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: scott cohn, ajcasanova, getty images
Keywords: news, cnbc, companies, getting, highlights, house, sales, flipping, realitystarturnedfraudster, real, quarter, recession, market, homes, risks, flippers


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UK’s parliament was just shut down amid the Brexit political crisis

UK’s parliament was just shut down amid the Brexit political crisis4 Hours AgoU.K.’s parliament was just shut down amid the Brexit political crisis. The British government suspended parliament for five weeks. In seven weeks, on October 31, the U.K. is supposed to leave the European Union. The opposition party is accusing the prime minister of suspending parliament to keep lawmakers from reviewing Brexit plans.


UK’s parliament was just shut down amid the Brexit political crisis4 Hours AgoU.K.’s parliament was just shut down amid the Brexit political crisis. The British government suspended parliament for five weeks. In seven weeks, on October 31, the U.K. is supposed to leave the European Union. The opposition party is accusing the prime minister of suspending parliament to keep lawmakers from reviewing Brexit plans.
UK’s parliament was just shut down amid the Brexit political crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: nurphoto, getty images
Keywords: news, cnbc, companies, uks, brexit, parliament, shut, suspending, political, amid, union, weeks, crisis


UK's parliament was just shut down amid the Brexit political crisis

UK’s parliament was just shut down amid the Brexit political crisis

4 Hours Ago

U.K.’s parliament was just shut down amid the Brexit political crisis. The British government suspended parliament for five weeks. In seven weeks, on October 31, the U.K. is supposed to leave the European Union. The opposition party is accusing the prime minister of suspending parliament to keep lawmakers from reviewing Brexit plans.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: nurphoto, getty images
Keywords: news, cnbc, companies, uks, brexit, parliament, shut, suspending, political, amid, union, weeks, crisis


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Palo Alto Networks CEO Nikesh Arora on earnings and growth

Palo Alto Networks CEO Nikesh Arora on earnings and growth10:15 AM ET Thu, 5 Sept 2019Shares of Palo Alto Networks popped more than 9% ahead of the bell on Thursday. The company topped Wall Street earnings estimates. Nikesh Arora, Palo Alto chairman and CEO, joins “Squawk on the Street” to discuss.


Palo Alto Networks CEO Nikesh Arora on earnings and growth10:15 AM ET Thu, 5 Sept 2019Shares of Palo Alto Networks popped more than 9% ahead of the bell on Thursday. The company topped Wall Street earnings estimates. Nikesh Arora, Palo Alto chairman and CEO, joins “Squawk on the Street” to discuss.
Palo Alto Networks CEO Nikesh Arora on earnings and growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, arora, earnings, palo, networks, nikesh, ceo, wall, alto, topped, street, growth


Palo Alto Networks CEO Nikesh Arora on earnings and growth

Palo Alto Networks CEO Nikesh Arora on earnings and growth

10:15 AM ET Thu, 5 Sept 2019

Shares of Palo Alto Networks popped more than 9% ahead of the bell on Thursday. The company topped Wall Street earnings estimates. Nikesh Arora, Palo Alto chairman and CEO, joins “Squawk on the Street” to discuss.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, arora, earnings, palo, networks, nikesh, ceo, wall, alto, topped, street, growth


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Google to pay $170 million to settle YouTube case

Google to pay $170 million to settle YouTube case6 Hours AgoGoogle will pay regulators $170 million to settle accusations that YouTube repeatedly violated the law that protects the privacy of children online. CNBC’s Ylan Mui reports.


Google to pay $170 million to settle YouTube case6 Hours AgoGoogle will pay regulators $170 million to settle accusations that YouTube repeatedly violated the law that protects the privacy of children online. CNBC’s Ylan Mui reports.
Google to pay $170 million to settle YouTube case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, ylan, repeatedly, regulators, case, reports, million, settle, 170, youtube, google, pay, violated


Google to pay $170 million to settle YouTube case

Google to pay $170 million to settle YouTube case

6 Hours Ago

Google will pay regulators $170 million to settle accusations that YouTube repeatedly violated the law that protects the privacy of children online. CNBC’s Ylan Mui reports.


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, ylan, repeatedly, regulators, case, reports, million, settle, 170, youtube, google, pay, violated


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Fyre Festival disaster: How to avoid fraud when booking your vacation

“The first thing we see is people running for tents and fighting over tents,” she told CNBC’s “American Greed.” “People spent $10,000 to go to this thing. Local contractors in the Bahamas, investors and employees were unpaid. The Fyre Festival’s creator, 27-year-old serial fraudster Billy McFarland, is serving a 6-year prison sentence after pleading guilty last year to multiple fraud counts. But because McFarland spent all the money he took in, his investors, employees and ticketholders will nev


“The first thing we see is people running for tents and fighting over tents,” she told CNBC’s “American Greed.” “People spent $10,000 to go to this thing. Local contractors in the Bahamas, investors and employees were unpaid. The Fyre Festival’s creator, 27-year-old serial fraudster Billy McFarland, is serving a 6-year prison sentence after pleading guilty last year to multiple fraud counts. But because McFarland spent all the money he took in, his investors, employees and ticketholders will nev
Fyre Festival disaster: How to avoid fraud when booking your vacation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: scott cohn, patrick mcmullan, getty images, mark lennihan, photo, john klos, wikipedia cc, source, seth crossno, crystal bleecher
Keywords: news, cnbc, companies, tents, spent, festival, told, fyre, disaster, thing, mcfarland, investors, unpaid, booking, fraud, ticketholders, vacation, employees, avoid, took


Fyre Festival disaster: How to avoid fraud when booking your vacation

“The first thing we see is people running for tents and fighting over tents,” she told CNBC’s “American Greed.” “People spent $10,000 to go to this thing. How could they not have anything set up? This is not what I signed up for.”

The festival itself was abruptly canceled when its headliners backed out. Local contractors in the Bahamas, investors and employees were unpaid. And thousands of stranded festivalgoers were left scrambling for flights home.

The Fyre Festival’s creator, 27-year-old serial fraudster Billy McFarland, is serving a 6-year prison sentence after pleading guilty last year to multiple fraud counts. A federal judge ordered him to forfeit more than $26 million. But because McFarland spent all the money he took in, his investors, employees and ticketholders will never be made whole.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: scott cohn, patrick mcmullan, getty images, mark lennihan, photo, john klos, wikipedia cc, source, seth crossno, crystal bleecher
Keywords: news, cnbc, companies, tents, spent, festival, told, fyre, disaster, thing, mcfarland, investors, unpaid, booking, fraud, ticketholders, vacation, employees, avoid, took


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Why social stocks are winning with subscribers

Why social stocks are winning with subscribers12:26 PM ET Fri, 2 Aug 2019CNBC’s Julia Boorstin takes a look at social media giants like Snapchat and Pinterest which are surging on strong subscriber growth.


Why social stocks are winning with subscribers12:26 PM ET Fri, 2 Aug 2019CNBC’s Julia Boorstin takes a look at social media giants like Snapchat and Pinterest which are surging on strong subscriber growth.
Why social stocks are winning with subscribers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: studioeast, getty images
Keywords: news, cnbc, companies, subscribers1226, winning, surging, social, takes, stocks, pinterest, snapchat, strong, subscriber, subscribers


Why social stocks are winning with subscribers

Why social stocks are winning with subscribers

12:26 PM ET Fri, 2 Aug 2019

CNBC’s Julia Boorstin takes a look at social media giants like Snapchat and Pinterest which are surging on strong subscriber growth.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: studioeast, getty images
Keywords: news, cnbc, companies, subscribers1226, winning, surging, social, takes, stocks, pinterest, snapchat, strong, subscriber, subscribers


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Here’s what we know about the Capital One data breach

Here’s what we know about the Capital One data breach13 Hours AgoCNBC’s Kate Fazzini joins “The Exchange” to discuss the Capital One data breach and how it happened.


Here’s what we know about the Capital One data breach13 Hours AgoCNBC’s Kate Fazzini joins “The Exchange” to discuss the Capital One data breach and how it happened.
Here’s what we know about the Capital One data breach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, capital, know, happened, fazzini, kate, heres, exchange, hours, breach, joins, data


Here's what we know about the Capital One data breach

Here’s what we know about the Capital One data breach

13 Hours Ago

CNBC’s Kate Fazzini joins “The Exchange” to discuss the Capital One data breach and how it happened.


Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, capital, know, happened, fazzini, kate, heres, exchange, hours, breach, joins, data


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Snap revenue beats revenues at $388M, reports strong Q3 revenue and operating income guidance

Snap revenue beats revenues at $388M, reports strong Q3 revenue and operating income guidance3 Hours AgoCNBC’s Julia Boorstin joins “Closing Bell” to report the latest from Snap’s Q2 earnings report.


Snap revenue beats revenues at $388M, reports strong Q3 revenue and operating income guidance3 Hours AgoCNBC’s Julia Boorstin joins “Closing Bell” to report the latest from Snap’s Q2 earnings report.
Snap revenue beats revenues at $388M, reports strong Q3 revenue and operating income guidance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-23  Authors: studioeast, getty images
Keywords: news, cnbc, companies, operating, revenue, beats, snaps, report, reports, income, snap, q2, strong, q3, guidance, revenues


Snap revenue beats revenues at $388M, reports strong Q3 revenue and operating income guidance

Snap revenue beats revenues at $388M, reports strong Q3 revenue and operating income guidance

3 Hours Ago

CNBC’s Julia Boorstin joins “Closing Bell” to report the latest from Snap’s Q2 earnings report.


Company: cnbc, Activity: cnbc, Date: 2019-07-23  Authors: studioeast, getty images
Keywords: news, cnbc, companies, operating, revenue, beats, snaps, report, reports, income, snap, q2, strong, q3, guidance, revenues


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Why this security expert is concerned about Huawei

Why this security expert is concerned about Huawei5 Hours AgoHuawei suppliers are expected to meet at the White House on Monday to talk about doing business with the Chinese telecom giant. Robert Spalding, senior fellow at the Hudson Institute, joins “Squawk Box” to discuss why he’s been very outspoken about the security issues posed by Huawei.


Why this security expert is concerned about Huawei5 Hours AgoHuawei suppliers are expected to meet at the White House on Monday to talk about doing business with the Chinese telecom giant. Robert Spalding, senior fellow at the Hudson Institute, joins “Squawk Box” to discuss why he’s been very outspoken about the security issues posed by Huawei.
Why this security expert is concerned about Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: fred dufour, afp, getty images
Keywords: news, cnbc, companies, talk, white, telecom, security, squawk, posed, huawei, spalding, suppliers, expert, robert, concerned, senior


Why this security expert is concerned about Huawei

Why this security expert is concerned about Huawei

5 Hours Ago

Huawei suppliers are expected to meet at the White House on Monday to talk about doing business with the Chinese telecom giant. Robert Spalding, senior fellow at the Hudson Institute, joins “Squawk Box” to discuss why he’s been very outspoken about the security issues posed by Huawei.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: fred dufour, afp, getty images
Keywords: news, cnbc, companies, talk, white, telecom, security, squawk, posed, huawei, spalding, suppliers, expert, robert, concerned, senior


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Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’

Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’7 Hours AgoRep. Patrick McHenry (R-N.C.), ranking member of the Financial Services Committee, joins “Squawk Box” to discuss the tech hearing on Capitol Hill.


Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’7 Hours AgoRep. Patrick McHenry (R-N.C.), ranking member of the Financial Services Committee, joins “Squawk Box” to discuss the tech hearing on Capitol Hill.
Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, squawk, services, kill, mchenry, member, rep, patrick, tech, rnc, bitcoin, theres, ranking, capacity


Rep. Patrick McHenry: 'There's no capacity to kill Bitcoin'

Rep. Patrick McHenry: ‘There’s no capacity to kill Bitcoin’

7 Hours Ago

Rep. Patrick McHenry (R-N.C.), ranking member of the Financial Services Committee, joins “Squawk Box” to discuss the tech hearing on Capitol Hill.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, squawk, services, kill, mchenry, member, rep, patrick, tech, rnc, bitcoin, theres, ranking, capacity


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