We buy your home 'as is' letters from Meridian Trust , Golex Properties etc

Hi,
I've been getting these Meredian Trust letters for ages. They offer to buy my rental 'as is'.
Off course I'm very suspicious. They also make sure to use US flag stamps , to 'appeal to my patriotism'



My guess is that it's Vanguard/Blackrock behind these.

Also ,what's with the insane housing prices in Florida right now ?
My mom has been trying to buy a home and the prices are insane, plus they are sold within a few days !
Very suspicious. Not only are the same houses that would have been 180k a few years ago , now 280k, any new house on the market sells within 3 or so days

a reply to: ancientlight

Very suspicious. Not only are the same houses that would have been 180k a few years ago , now 280k, any new house on the market sells within 3 or so days

Not just houses but vacant land as well. Since I listed my acreage, it's sparked a bidding war among realtors and developers.

a reply to: ancientlight


Fl net population growth rate is about 919 new people a day. That's new people, not counting the ones that are already here looking for a house.

ARRIVALS
1,632 People who move to Florida each day from elsewhere in the U.S.
654 People who move to Florida each day from abroad
613 Births
2,899 Total daily arrivals
DEPARTURES
1,148 People who leave Florida for other states
275 People who leave Florida for other countries*
557 Deaths
1,980 Total daily departures
919 — Net Daily Growth
335,435 — Net annual growth

919 new Floridians every day

a reply to: ancientlight

Wait 6 to 18 months. While the mechanics and root causes are materially different from 2008, this next housing bubble implosion will be epic.

The institutional and private investors are going to get out when they getting out is still good. Many markets have some of the largest new build inventories coming online for the past decade. Places like Florida, Arizona, and Nevada will be the first to go.

With interest rates still likely to rise over the next year, demand will all but disappear. Prices will drop like a stone. And even if interest rates remain high during this period, they will eventually drop too. Your mom could always refinance then.

My $0.02.

I get letters, phone calls and texts quite often offering to buy my home, and I live in California. People are leaving California quicker then they are arriving from Mexico and south America...

originally posted by: ancientlight
Very suspicious. Not only are the same houses that would have been 180k a few years ago , now 280k, any new house on the market sells within 3 or so days

Very similar here (US flyover country). Except homes that were 200k 4-5 years ago are $600k now. And selling in a day. Freaking empty lots run 200k now.

Absolutely no idea where the money is coming from. Yes unemployment is low, but in no shape or way do local incomes support these prices. A double-income household would need to be overextended on a "How much do you want?" mortgage. And remember where that got us in 2007....

a reply to: ancientlight

It's crazy here too on vancouver island. My place went up 40% and as a non seller on a fixed income, it's the accompanying tax rise I'm concerned about.

There was a big acreage here that sat at a decent price unsold for 12 years awhile back and now it's all bidding wars. My brother sold his house to a bid higher than his asking price then his biggest worry was that he wouldn't get the other house he put a bid on and be left homeless. It's nuts and so many people are resorting to living in trailers/campers that those are hard to come by now.

I bought my 1/2 acre with mobile home,well & septic for 15k cash in 2020. Upstate NY. I used plandemic money LOL.

Meridian Trust is owned by Oliver Seidler who owns property force..BlackRock doesn’t invest with him to the best of my knowledge. In fact, BlackRock owns much less than 1% of all USA real estate.

BlackRock owns about $100b of real estate in the USA.
There’s about $36t of Residential real estate, plus about $21t of commercial real estate.

Although investors And corporations are certainly buying much more real estate, It isn’t some sort of consorted effort.

a reply to: ancientlight

a reply to: ancientlight

Supply and demand...a lot of people are moving away from high cost of living areas and taking their gains to lower CoL areas. My folks in FL are selling their condo right now actually. Bought 2 years ago for about 200k and its listing at 400k currently.

a reply to: olaru12

If your acreage happens to be is in Southwest Florida, I’d be interested in taking a look at the listing.

a reply to: ancientlight

They're looking to capitalize on inflation and housing shortages.

They get sweetheart deals now with low interest and collateral.

When the markets adjust they're hoping inflation will be compounded by rental cost increases meaning their actual interest payments would be of almost no consequence. They hoping to carry the loans with a fairly low-occupancy/high cost market. They need housing to be unattainable to keep sale values high and they need inflation to make their existing loan have been made with a stronger dollar. I would expect them to slow the buying as inflation rises, but the big companies know they'll get bailed out so they have little incentive to properly manage risk.

Most of these pros aren't as good as the financial news says and almost none are good as they think they are. They have significant codified competitive advantages to normal investors, massive teams, and they have more ego than sense.

My guess is it's all tied to the own nothing be happy posse. The plan for us is probably some little node in a smart city somewhere.

originally posted by: zosimov
My guess is it's all tied to the own nothing be happy posse. The plan for us is probably some little node in a smart city somewhere.

My guess too. I off course will never sell, they try to steal it, then they're getting a burned down pile of ruble

I bought over 100 acres of property back in 2018- with intentions of building a home there around 2020 or so.

Cost of building went out of control when they shut everything down so I'm just sitting on it now- but I get at least one letter a week in the mail from people out of state looking to buy it from me, for well over what I paid for it.

My father always told me- land is the one thing they're just not making anymore, and it will always go up in value.

a reply to: ancientlight

So they are using flag stamps to appeal to your patriotic nature ? It maybe that it’s the most common stamp available and not an appeal to your or anyones nature

originally posted by: igloo
a reply to: ancientlight

It's crazy here too on vancouver island. My place went up 40% and as a non seller on a fixed income, it's the accompanying tax rise I'm concerned about.

That's all that matters anymore. How much more can they get out of your damned pockets.

The banks aren't paying taxes on the properties they're holding. These big corps are writing everything off ... and paying no taxes on the properties they've taken.

It's just a game to them. There is a way to win the game ... but, I ain't tellin'.

a reply to: loam

this next housing bubble implosion will be epic.

I bought my house low, with an a rate almost too low to believe.
I'm going to hold on to this place for dear life. Realtors send me letters, cards, and all sorts of junk
every single week. They are getting desperate and I think we all can feel this is just NOT sustainable.
Something has to give.

originally posted by: Medusa18
a reply to: olaru12

If your acreage happens to be is in Southwest Florida, I’d be interested in taking a look at the listing.

180 acres under cultivation in cotton and onions, irrigated, Texas. I keep the mineral rights. Not Florida but a very nice property.

our situation is kinda funny.

our land lord is on the lamb from the cops. lol. don't know the reason.

they can't find him.

it's not paid for yet. it's been 3 yrs and no one has asked for money.

but i get calls all the time to buy in china.

cheap.