Any idea what all of the
John buys houses, Brothers buy houses, etc are about?
buying to turn into rentals?
Buying to flip?
buying below market? (I assume )
I'm not selling but I am curious
Thoughts
IC
John buys houses, brothers buy houses??? what on earth???
Re: John buys houses, brothers buy houses??? what on earth???
Can you elaborate? This is not something I have seen or heard of.
Although I have been hearing that a lot of funds are buying house and making them rentals. They want to invest in real estate.
Although I have been hearing that a lot of funds are buying house and making them rentals. They want to invest in real estate.
-
- Posts: 8060
- Joined: Fri Aug 28, 2015 7:21 am
Re: John buys houses, brothers buy houses??? what on earth???
They are EVERYWHERE in my area. Because my ownership of mom’s house does not have homestead (signifying that the owner lives there), I get letters, postcards and messages on both my cell and landline. I get two a week on average. They all have just ONE name - John, Joe, Larry, Check, Marty etc. etc.
A few months after mom died, the lady up the street died and her sister sold to one of these VULTURES. It sold for a fraction of other houses on the street. Yes, it needed updating. It is now a rental.
Like many areas, real estate is hot here. There is not enough supply and we are getting to be one of the most unaffordable places for rentals (compared with salaries). Most of the letters etc. have mom’s address but now I’m getting them with my address. Like my hairdresser (who gets the letters on her own home), says, “where do they think I’m going to live?”
Can you tell they irritate me??