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Investors buying homes by the dozen

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posted on Mar, 2 2012 @ 05:03 PM
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reply to post by Damrod
 



...what a moron...never happening douchebag


I'm confused. What's not happening? Are you calling me a moron and a douchebag?





posted on Mar, 2 2012 @ 09:56 PM
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reply to post by defcon5
 


Jeez.... Defcon... you must be in the same state I am...

And we have several close friends who are realtors and have been for a long time and they all admit too, when well into their cups, you might as well not get excitede because we all have the listings and information before you do and we share that info.

The lady realtor we rented off a few years back bought the house we lived in the 'day before' it went on the market.



posted on Mar, 2 2012 @ 10:10 PM
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Originally posted by St Udio
.then as landlord you gotta have many things fixed up within 24 hours or get fined a bunch,
... a fix up resource that charges reasonable fees & rates...and the yard men etc to maintain the property that potentially unemployed renters refuse to maintain.



One thing I dont see much mention of in the American rental property market, but are plentiful here in Australia, is the "middle man" with the title of "Property Manager".
In theory, the property manager isolates the landlord from the renters, and (for a fee) handles the day to day running of the property, getting things repaired, extracting rent out of the unwilling, getting the lawn mowed once a fortnight, and generally being an expert in the laws regarding rental property.
Broken pipe? Property manager gets the plumber to visit.
Faulty heating? Property manager gets it fixed.
Infestation of ants? Property manger calls a pest control company?
Dont pay rent? Property manager gets them evicted.
Need new tenants? Tell your property manager to get some new ones in.
Lots of stuff can happen without you, landlord, ever needing to know or care (until the bill comes in).

So why dont they exist in the USA?



posted on Mar, 2 2012 @ 10:47 PM
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Originally posted by alfa1
property manager .
So why dont they exist in the USA?


We have property managers in the US they are mostly a side line for reality offices
We also have a lot of rentals owned by Nevada LLCs that without a federal court order you can not even find out Who the real property owner is.and these properties are run by property managers.



posted on Mar, 2 2012 @ 11:55 PM
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Originally posted by JibbyJedi
I bought a foreclosure really cheap, a too good to be true deal. It was too good to be true though.

The town valuates my house at $110k more than I paid for it, and the equivalent home sells for $60k less than valuation around here. Houses are on the market for 1-2 years in my town, no one wants them because they need fixing, and the tax rate is ridiculously not affordable.

This is classic Agenda 21 maneuvers. They are trying to reduce home ownership and get everyone renting. The end goal is to have everyone in condensed cities and not in suburbia. Property taxes in the suburbs are around 5X higher than in the gross cities, why? Why is it so expensive to live in the woods with no public services and cheap to live in concrete jungles?


In Colorado, this is definitely not the case, most homes rent for 50% less than those in urban areas. I would like to now where you got your numbers from?



posted on Mar, 3 2012 @ 03:19 AM
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If your want to buy more homes look at it this way. If you want to be on call 24 hours a day 365 days a year and work for yourself for pennies on the dollars then this is for you; by all means jump in and rent them out under section 8 gov assistance. then buy massive amounts of insurance, your going to need it. So many people do this without thinking. then they wish they never have and end up loosing big.

What to think about .

Federal Taxes. IRS tax rules. your not going to get the deduction and credits you think you are.
local property taxes,
utility deposits.
home repair, in most cases major remodeling and construction. some require major code updates to the home. ( big bucks) grandfather clauses will not work in most cases.
More than likely the house is less than desirable location.
good luck at selling the dump. no bank will touch homes in bad neighborhoods. that's just fact. unless there are financing the entire block for you. then you should run , and run fast.

If you really want to make some cash forget the homes. Most of these are abandon homes and will need a wrecking crew soon. My best advise buy construction equipment on the auction market sell, or lease it out. There are 25 yard dumps, bucket trucks, large to small front end loaders, earth movers, and more on the auctions blocks all over the country. The ROI is much better here. Banks probably wont touch this type of equipment in this economy, thats a good thing, because it makes a better deal for you . when the economy get better you rent out your front end loaders for $ 350-$400 a day. or use them your self and charge the customer $200 to $250 per day and undercut the competition; because you bought the equipment cheap and because you can. best of all, you own it.

Also roll off containers trucks and the containers are at these auctions. some of these container trailer and can be pulled by a 1 ton pickup. lease a vacant lot for the containers, because these dumps there selling will need one sooner or later. charge a $80 a week with a dump fee. then charge more when the econmey picks up.

You don't need much equipment to start out with . gosh you can make an investment for 5K in these auctions and do very well on your return.

---------

The floodgates are starting to open," says John Burns, the founder of Irvine, California-based John Burns Real Estate Consulting. "There's billions of dollars of capital, of my clients alone, (looking) to invest in single-family rentals."


These are the people who will need this type of equipment to knock it down or make it a parking lot.







edit on 3-3-2012 by SJE98 because: (no reason given)



posted on Mar, 3 2012 @ 03:54 AM
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reply to post by topdog30
 


Are you one of these investors whom sends out endless offers in the mail box to home owners in en-mass or sometimes just a few homes ? I know some people who do this, they get some good deals. but I know it''s getting harder for you guys, only because by the time the people want to deal the banks might have started the foreclosure procedure on the property. best of luck.


edit on 3-3-2012 by SJE98 because: (no reason given)



posted on Mar, 3 2012 @ 08:17 AM
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reply to post by SJE98
 


Yes, I do utilize targeted direct mail as a form of marketing. I get a large amount of my deals this way as it’s the most cost effective and productive way to reach property owners. I also get great deals from my websites as well as realtors, and word of mouth. It’s not getting harder for me at all, quite the opposite really. I target a diverse list of residential and commercial property owners when marketing for properties to buy, not just those facing foreclosure. The starting of the foreclosure process can present a threat to buying a property but not if the price works out for all parties involved. Thanks for the good luck, take care.



posted on Mar, 3 2012 @ 09:43 AM
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Seems to me US resources like timberland, mining sites, commercial areas and more were bought up by foreign interests and multinational corporations through the 1980's to 2008.At the same time, predatory financial marketing ensured people would carry personal debt for their lifetimes, as indentured servants, and that nations' citizens would carry national debt for generations.

The so-called financial crisis set the stage for wholesale purchase of residential homes and areas, at rock bottom prices - also by multinational interests.

Finally, the loss of personal property, and being forced into corporate-owned 'rentals,' ensures that ordinary people are totally beholden to, and reliant upon, their financial masters.

In virtually every respect, we have returned to fascist-flavored feudalism.



Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries, which, broadly defined, was a system for structuring society around relationships derived from the holding of land in exchange for service or labour.




reply to post by JibbyJedi
 

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edit on 3/3/12 by soficrow because: (no reason given)

edit on 3/3/12 by soficrow because: (no reason given)



posted on Mar, 3 2012 @ 09:46 AM
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The only issue with this is yes you could buy a "house" for the taxes, but please understand most likely you are getting a frame of a burnt down house.

Or it wont have ANY plumbing or wiring.

Plus will most likely be located nowhere near anything you would need, like stable commerce.



posted on Mar, 3 2012 @ 09:55 AM
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reply to post by sykonot
 


See above.

There's a bigger story here, methinks.



posted on Mar, 3 2012 @ 10:03 AM
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Originally posted by sykonot
The only issue with this is yes you could buy a "house" for the taxes, but please understand most likely you are getting a frame of a burnt down house.

Or it wont have ANY plumbing or wiring.

Plus will most likely be located nowhere near anything you would need, like stable commerce.



That’s why you preform your due diligence beforehand right? Buying a property with all of the above problems you described wouldn’t bother me given the price I can buy it for. The bulk sale that’s talked about in the article and the ones performed by the lenders are not for back taxes. Trying to acquire a property through tax sales is usually a waste of your time and money. There are more efficient and profitable methods of obtaining properties for cheap.



posted on Mar, 3 2012 @ 10:14 AM
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reply to post by topdog30
 


A few people might think they have the opportunity to play with the Big Boyz, but it's an illusion - and the real game is in full play.

Through the 1980's to 2008, US resources like timberland, mining sites, commercial areas and more were bought up by foreign interests and multinational corporations. At the same time, predatory financial marketing ensured individual people would carry personal debt for their lifetimes, as indentured servants, and that nations' citizens would carry national debt for generations.

In 2008, the so-called financial crisis set the stage for wholesale purchase of residential homes and areas, at rock bottom prices - also by multinational interests.

The END-GAME: Public and private debt, the loss of personal property, and being forced into corporate-owned 'rentals,' ensures that ordinary people are totally beholden to, and reliant upon, their financial masters.

In virtually every respect, we have returned to fascist-flavored feudalism.



Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries, which, broadly defined, was a system for structuring society around relationships derived from the holding of land in exchange for service or labour.



posted on Mar, 3 2012 @ 10:35 AM
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reply to post by soficrow
 


I appreciate your view about what’s happening.



posted on Mar, 3 2012 @ 10:39 AM
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Originally posted by topdog30
reply to post by soficrow
 


I appreciate your view about what’s happening.


And I yours.

But I am concerned -even saddened- to see that the marketing campaign continues effective. ...Seems to be evidence of the old feudal "Sheriff Psychology" - every regime requires its grassroots enforcers, no? And many individuals require evidence of their own "superiority."



posted on Mar, 3 2012 @ 11:12 AM
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reply to post by soficrow
 


Obviously you’re educated in the areas of feudalism, as I’m not. Are you insinuating that I am working in cahoots with the criminals that created this disaster? Or did I misinterpret what you wrote?



posted on Mar, 3 2012 @ 02:27 PM
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Originally posted by topdog30
reply to post by soficrow
 


Obviously you’re educated in the areas of feudalism, as I’m not.


The key phrase in the wiki entry describing feudalism is "a system for structuring society around relationships derived from the holding of land in exchange for service or labour." ...In such a system, nobody really owns anything - they just get to live there and use stuff as long as their services and labor are useful. Old and obsolete workers get turfed, and legally, can't even camp out in the forest.



Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries, which, broadly defined, was a system for structuring society around relationships derived from the holding of land in exchange for service or labour.


As I pointed out earlier, public and private debt, the loss of personal property, and being forced into corporate-owned 'rentals,' ensures that ordinary people are totally beholden to, and reliant upon, their financial masters.



Are you insinuating that I am working in cahoots with the criminals that created this disaster? Or did I misinterpret what you wrote?


No - I am trying to be as clear as I can be. ...Repressive and abusive systems rely on grassroots individuals for enforcement and support - many people "fall into" that position quite unwittingly, often by thinking they've "aced" the system to ensure their own survival. In truth, they're just licking up a few crumbs, supporting the nasty system, and helping keep the bad guys in power.

I don't mean to be personally insulting, but I am somewhat driven by a deeply disheartened sadness at the way things are going - and by many peoples' lack of a more 'global' awareness. At the same time, I do recognize that we all need to do what we need to do, just to survive. It's a conundrum.

With respect and thanks, sofi



posted on Mar, 3 2012 @ 09:26 PM
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reply to post by alfa1
 


We do. I was one of them for years and sometimes it's a good job to have while other times it's not. In my case.....recently......not so much so.

Location, location, location.....that's the key. If there's a lot of money involved in a prime location it's not so bad. If there's not and all of the properties, including the location they're in, are distressed, it's a thankless job.

Either way, property managers are on the front lines so to speak and in this economy it can be a not so happy place to be. If you're not getting your hands dirty fixing a broken water line you're getting your hands dirty by kicking someone out who has nowhere else to go. If you have a weak stomach it's not the job for you.

As far as the topic of the OP though, what's happening now is called glutting the market. And if memory serves, the last time this happened it only took a few years for this market to collapse. It happened in Phoenix AZ. not too long ago as well as Vegas. You can't stockpile your inventory without knowing whether you can sell it off or not. Any businessman in ANY sector knows that. It's not even recovered yet and big money is at it again. Flooding the market with homes that people can barely afford, if they can at all.

Whether these investors re-sell or rent the properties out, they're going to get people who can barely afford them. And for the investors who are buying in bulk, especially in different parts of the country.......to put it bluntly......they're idiots. They must not have a clue how this works and they obviously don't care. They have dollar signs in their eyes and they think that their money alone will guarentee them a return on their investment.

So they buy a house, fix it up and make it pretty. Giving a house curb appeal doesn't fix the problems that dictate whether people can afford it or not. And if you buy 100 properties in this economy and you don't realize that, you're going to fail. Big. And when you do, it's going to give another blow to the overall economy.

Part of me wants them to fail so I can say I told you so, and part of me doesn't because it will make everything worse.








posted on Mar, 3 2012 @ 11:33 PM
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reply to post by AGWskeptic
 


wrong answer you may have deed but thanks to stuprme court anytime government gets a request for the land they can take it for immeniet domain. used to they had to have a valid reason but now if a developer wants your land and doesn't want to pay you what you think its worth if they can prove it might help local economy they can seize it



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