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Why buying a house will get super hard...
#13993648
05/11/21 08:16 PM
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Joined: Nov 2009
Posts: 39,379
Dan90210 ☮
OP
Jr Deputy Dan
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OP
Jr Deputy Dan
Joined: Nov 2009
Posts: 39,379 |
We Buy Ugly Houses, Cash 4 your Home, etc. All of these companies are buying houses for cash selling them to investors to turn into rental properties packaging those rental investments just like they did mortgages 15 years ago grading those investments and then selling them off.
Same thing they were doing with mortgages but it's actually quite difficult to evict somebody and foreclose on their home. It's very easy relatively speaking to get rid of a renter compared to an owner.
These companies are snapping up every single house they can get. Doing the same investment scheme they did with the mortgages but it's much safer to do it with rentals.
As this trend continues there's going to reach a point where actually buying your own home and owning it is going to be extremely challenging they just won't be the supply of homes available.
I just wanted to drop this knowledge since it's kind of a big deal if you think owning a home is important versus renting and nobody's really talking about it.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993669
05/11/21 08:26 PM
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Joined: Sep 2016
Posts: 9,444
Floon Swenson
TFF Celebrity
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TFF Celebrity
Joined: Sep 2016
Posts: 9,444 |
A few times a year I really bit** and complain how bad owning a home sucks. AC units giving up the ghost, hot water tanks bursting, furnaces biting the dust, roof replacements, foundation repairs, electrical gremlins, sewage lines rusting and collapsing...it's a headache sometimes.
It's those times that I think it would just be easier to live on a leaky sailboat with a few dozen bikini models and travel the world without a mortgage, property taxes, and home repairs. There's nothing I can't fix on a boat with a can of Flex Seal.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993680
05/11/21 08:28 PM
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Joined: Dec 2011
Posts: 8,966
H.Town_paddler
TFF Celebrity
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TFF Celebrity
Joined: Dec 2011
Posts: 8,966 |
Should I buy some credit default swaps?
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993683
05/11/21 08:31 PM
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Joined: Jan 2012
Posts: 11,719
Coach Hark
TFF Guru
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TFF Guru
Joined: Jan 2012
Posts: 11,719 |
I haven’t rented in 30 years and it’s never crossed my mind to rent again. Not even when I’m reeaaalll old I won’t live in no damn retirement apartment. I’ll die here in my crib that I hope I’m the owner of before I buy the ranch.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993702
05/11/21 08:44 PM
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Joined: Apr 2014
Posts: 8,388
Jpurdue
TFF Celebrity
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TFF Celebrity
Joined: Apr 2014
Posts: 8,388 |
I bought my current home from Zillow. They sold it to me for 12K more than they paid for it 4 months prior. Would have worked out well for them if they didn't have to pay 36K in relator fees and another 10K in various concessions. They were just getting into the game back then and I'm guessing they have since refined their model to try and actually make money. Agree though with the OP, it could be a problem in the future.
"Bragging may not bring happiness, but no man having caught a large fish goes home through an alley." -A.L. www.LunkerLore.com
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993708
05/11/21 08:47 PM
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Joined: Mar 2003
Posts: 10,734
Fishin' Nut
TFF Guru
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TFF Guru
Joined: Mar 2003
Posts: 10,734 |
The all cash buyers are what's keeping a lot of people from buying a home right now. Plus they usually offer more than asking price if it is in a competitive market. It's amazing that the Huntsville metro area is one of those markets. Lots of people moving here.
He is truly a sick individual.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993710
05/11/21 08:50 PM
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Joined: May 2007
Posts: 40,429
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 40,429 |
There are companies out there now that own 50000 house they rent out.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993740
05/11/21 09:16 PM
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Joined: Jan 2005
Posts: 119,880
TexDawg
Top Dawg
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Top Dawg
Joined: Jan 2005
Posts: 119,880 |
We’ve considered it, also considering renting again. Want to be more fluid, maybe live is some different places and really because of what Floon stated above, I’m tired of the house owners bull
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993747
05/11/21 09:19 PM
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Joined: Jul 2012
Posts: 22,230
Davedave
Bigfoot Seeker
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Bigfoot Seeker
Joined: Jul 2012
Posts: 22,230 |
We Buy Ugly Houses, Cash 4 your Home, etc. All of these companies are buying houses for cash selling them to investors to turn into rental properties packaging those rental investments just like they did mortgages 15 years ago grading those investments and then selling them off.
Same thing they were doing with mortgages but it's actually quite difficult to evict somebody and foreclose on their home. It's very easy relatively speaking to get rid of a renter compared to an owner.
These companies are snapping up every single house they can get. Doing the same investment scheme they did with the mortgages but it's much safer to do it with rentals.
As this trend continues there's going to reach a point where actually buying your own home and owning it is going to be extremely challenging they just won't be the supply of homes available.
I just wanted to drop this knowledge since it's kind of a big deal if you think owning a home is important versus renting and nobody's really talking about it. Ok
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Re: Why buying a house will get super hard...
[Re: Davedave]
#13993759
05/11/21 09:24 PM
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Joined: Nov 2009
Posts: 39,379
Dan90210 ☮
OP
Jr Deputy Dan
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OP
Jr Deputy Dan
Joined: Nov 2009
Posts: 39,379 |
We Buy Ugly Houses, Cash 4 your Home, etc. All of these companies are buying houses for cash selling them to investors to turn into rental properties packaging those rental investments just like they did mortgages 15 years ago grading those investments and then selling them off.
Same thing they were doing with mortgages but it's actually quite difficult to evict somebody and foreclose on their home. It's very easy relatively speaking to get rid of a renter compared to an owner.
These companies are snapping up every single house they can get. Doing the same investment scheme they did with the mortgages but it's much safer to do it with rentals.
As this trend continues there's going to reach a point where actually buying your own home and owning it is going to be extremely challenging they just won't be the supply of homes available.
I just wanted to drop this knowledge since it's kind of a big deal if you think owning a home is important versus renting and nobody's really talking about it. Ok Good! Now you know.
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Re: Why buying a house will get super hard...
[Re: WAWI]
#13993763
05/11/21 09:26 PM
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Joined: Nov 2009
Posts: 39,379
Dan90210 ☮
OP
Jr Deputy Dan
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OP
Jr Deputy Dan
Joined: Nov 2009
Posts: 39,379 |
There are companies out there now that own 50000 house they rent out. That's right and they are getting more everyday. I feel like a lot of people think these offers to buy houses for cash are just flippers. That they'll do some repairs maybe some remodel sell the house to somebody else for a nice profit. Some are. But many of those homes will never be for sale again.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993764
05/11/21 09:28 PM
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Joined: Jul 2007
Posts: 50,905
Trickster
Super Freak
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Super Freak
Joined: Jul 2007
Posts: 50,905 |
Family next door to me put a 1850 sf home built in the late 1980's up for 333K and got a cash offer of 375k in 2 days. Chinese investers.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993787
05/11/21 09:47 PM
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Joined: Jan 2005
Posts: 14,482
jcarring99
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 14,482 |
Home to flip are almost impossible to find. Makes more sense to buy properties to hold. There are some out there but not many. I just finished a rehab for an investment company. They are trying to buy 3 to 5 properties a month here in dfw. They are already in the Minnesota and Florida markets. It’s super competitive right now for investment homes also
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993794
05/11/21 09:54 PM
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Joined: Aug 2008
Posts: 1,624
CaptainCrunch
Extreme Angler
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Extreme Angler
Joined: Aug 2008
Posts: 1,624 |
Sounds like it'll be a heck of a market for house builders.
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Re: Why buying a house will get super hard...
[Re: Dan90210 ☮]
#13993836
05/11/21 10:26 PM
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Joined: Mar 2008
Posts: 34,575
cocodrie
TFF Guru
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TFF Guru
Joined: Mar 2008
Posts: 34,575 |
Yeah, it's getting pretty bad here in San Antonio too. We got into a great home just as this was starting to get out of control. Should we decide we need more bedrooms, larger lot in the city, my only hope is to by a family member's house before it ever hits the market.
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