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I remember looking up just the air b&b’s in the Portland metro and there were over 4,000…..
A large majority of the rest were being rented.
The wealthy are buying it all with no regulation.
There should be one home per family in the suburbs. One vacation place and your house. No one needs 10 properties, get rich another way you greedy terrible fucks.
Because the only way to escape an exploitative system is to become an exploiter...
Housing prices are pretty high in cities. But you can buy your own piece of land in a more rural setting and build a small cottage yourself, maybe a 2 bdrm, 1 bath home. I believe this is possible for less than $100k at the right location. Start with a used cheap RV or mobile home if you have to.
Well this is gross. Its extremely had to buy ONE property, to exist in, if you dont have Bank of Mom and Dad to rely on.
I know people like this. They truly believe like they are doing society a favor by buying up houses and renting them out. The disconnect from reality is wild.
It's a little better than corporate real estate vultures though. If you think about it, these small landlords and renters are more alike than the people at Blackrock buying up all this shit.
Nah, corporate landlords at least tend to have minimum standards and contractors on call.
These type of small time landlords are the ones that tell you that a working refrigerator is a luxury, and water damage due to a cracked pipe in the wall is the tenant's responsibility.
How does the second tenant pay their mortgage? One apartment's rent should not be enough to cover the mortgage of four (or five - including the one they live in). My guess is that they only payed all the mortgages for these four properties and this is about the mortgage of the apartment they live in.
The cheat code to a stress-free life is to own lots of real estate to being with.
Oh, some rents are getting crazy and the buildings were purchased 10-20 years ago so the mortgage isn’t that high. It’s all a scam.
I mean why not?