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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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50455999 No.50455999 [Reply] [Original]

This jew, or at least, the property management group he hired to manage his properties, turned down a full one-year lease paid upfront for $33,600 from a friend of mine, while insisting on a two-year lease. Here are the rest of the details: Friend's house had an electrical fault that caused his house to burn down while he was on vacation. He needs a place to live in the meantime, insurance is covering the rebuild up to $260k, belongings up to $100k, and any rental expenses up to $50k for up to 18 months. Well, this house in my neighborhood was recently purchased for $90k above comps, $100k more than I paid for my house a month prior to the close on this one, and $40k over ask. Then Mr. (((Fasman))) spends what I estimate to be at least $20k "remodeling" the home (gutting all the custom work performed by the previous homeowner who was a very good carpenter), and took out/replaced everything from floors, to blinds, doors, paint, flower beds, gate, and the above-ground pool.

Rents in this area are going for $1500-2000 for a SFH, he wants $2700. Homes peaked around $280-320k in my neighborhood. This fag paid $380k, $40k over ask. I research him, I'm thinking "what the fuck does he know?"

He's got a property management group called Progress managing quite a few empty properties around here--not sure if they are his, but I don't think it matters. For good measure, I call and inquire about leases and they are asking $2100 and $2250. Both have been empty for months. But at least the current owners bought them for $100-130k less than Mr. Fasman

So, I'm wondering, is this guy retarded or is the property management company just fucking him over? As far as I know, the mgmt group only gets paid when the landlord is gets paid, or when maintenance needs to be performed...why the fuck would they insist on 2-year lease and outright refuse $34k upfront?

>> No.50456021

>what does he know
He knows what he's got and his boomer investors demand he make their money back.

>> No.50456035

>>50455999
Checked

>> No.50456052

Someone screenshot this post, message him, and dox OP and his friend.

>> No.50456116

>>50455999
Checked.
Maybe they're desperate to get a ROI and are afraid it might collapse on them soon, a two year lease paid up front grants a safety net.

>> No.50456120

>>50456052
gb2reddit
Nobody likes your (((kind))) here

>> No.50456176
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50456176

>>50455999
You rentoids are such entitled shits. They own the property they get to set the terms. If you don't like them live somewhere else. This is why you'll be a rent slave forever and will never have a zestimate.

>> No.50456223
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50456223

>>50456116
No one's gonna pay two years up front. They're fine with a two-year lease, paid monthly, but they aren't okay with a one-year lease paid upfront? Am I dreaming, or is inflation not running at 9%? Not taking the upfront payment and then having the opportunity to jack up rent again a year later seems like bad business.

>>50456176
lol, who runs these bots? no reading comprehension, just triggered off key words

>> No.50456230

>>50455999
It's simple math.
Your friend would have to pay the $2,700 over 2 years or get sued by his litigation team, more than likely at no cost besides filing fees.
They've already budgeted for 2 years, more than likely more.
The property will increase in value regardless if it has tenants or not.

>> No.50456668

>>50455999
>>50456223
paying upfront = likely a criminal or a tax dodger
nobody owes you shit, rentoid.

>> No.50456903

who cares...just lead him on and cancel at the last minute

>> No.50456965

>>50456176
LOL not long now till USD rugpulls turning the US into a 3rd world shithole.

>> No.50457077

>>50456116
This, they are not sure that this rent market will continue and want to lock someone in.

>> No.50457135

They smell blood in the water, someone willing to pay a full lease why not make it two

>> No.50457190

>So, I'm wondering, is this guy retarded or is the property management company just fucking him over?
Could be he pays them regularly just to be under contract with them. Could be rich and retarded. Hard to say.
>why the fuck would they insist on 2-year lease and outright refuse $34k upfront?
Trying to front run market dump? Trying to get a tenant locked in for some legal jujitsu with creditors? I don't know, I've never seen a two year lease but I've only rented from individuals

Why are the replies in this thread so weird?

>> No.50457259

lynch the landlords

>> No.50458334

>>50457190
because this site is full of complete retards/wackos/bots. OP, your friend should avoid those fucks just because they are greedy as shit.