/biz/ - Business & Finance

what do i do bros? the asshole apartment complex keeps lowering rent, but i bought at the top and cant afford to lower rent. i was relying on rents going up, but now they are going down

>bought a place that rented for $1200 2 years agi
>Bought the tippy top
>Now requires $1700 to cash flow positive
>Why is this happening???

>>51223043
Damn, that's kind of genius if you're an apartment complex owner or bank who got in early.
You can just keep dropping prices until owners who got in at the top capitulate.
Are there real estate whales that actually do this?
Sounds like some great depression shit.

location is in philly btw

>>51222986

But Housing market can never crash. Right guys? Guys?

Just be yourself landchad!

>>51223124
what

>>51222986
>"your" rentoid

yep, being able to "just walk away" is the one value renters get

>>51223353
where are those rentoids going to walk to? they still need a place to live. right? right?

>>51223089
Look what I found!

>>51223435
more rentoids rather live on the street and do drug instead of pay me rent. The cops really need to start enforcing laws so that there will be more demand for rentals.

>>51223435
he's getting the booster

>>51223435
Holy based

>>51222986
>biometer

lmao

>>51223083
>Damn, that's kind of genius if you're a bank
>You can just keep raising interest rates until owners capitulate.
Cool it with the antisemitism

>>51222986
this is why i laugh when people say landlords are parasites etc.
there is RISK is property. Some people have 10 properties like this, and if they all go negative they are fucked.

>>51223594
muh bailout.
muh foreclosure moratorium
muh cash out refinance

>>51223426
Presumably the apartment complex that is lowering rent

BoA offering no deposit loans to beaners and niggers is the biggest sell signal possible. Just in time to hold the bag

>>51223594
Landlords are parasites

Why are normies so attracted to real estate as an investment? Does it hahppen everywhere in the world or is it a local phenomenon?

>>51223594
And that’s a good thing

Can you actually just walk away after signing a lease for an apartment? Wouldn't you get sued?

>>51223632
explain why that's a sell signal

>>51223812

Because its a safe investment anon. You don't lose it.

>>51223812
Didn't you see the absolute assload of real estate youtube videos that were all the rage during the last 4 years?
It was a huge fad with everyone taking tons of debt to get rich quick in the real estate markets.

>>51223812
NUMBER GO UP

>>51222986
This is definitely not normal behavior. Rentoids only try to escape when they're feeling stressed or their basic needs aren't being met. Is his pod being kept clean?
It's possibly a dietary problem. My rentoid had an absolute tantrum when I secretly replaced his onions-based goyslop with bug feed. But I injected some extra plastic pellets into the bug feed as a treat and he loves it now!

>>51223812
Boomer shit. In my country all boomers are gold/real state bugs. Most of them dont even have gold so they dont know the prices yet they defend them to death as investment. Trying to explain that at best is a value store is impossible. Showing them real data how it takes decades to profit and if you have the bad luck of a bear market, how it takes decades to recover your investment.
Houses are also at 50% of their pre covid values, and they might not recover since we are way past the "you can buy a house with a 40 years mortgage" in this country.
But boomers and young clueless guys who listen to boomers will never learn. I ll buy a house next with crypto when I pay 25% of the precovid value.

>>51224030
is this true for index funds too? SPY

>>51222986
Do what klaus schwab says - own nothing and be happy

>owning
>kek

Choose both. The jews made it unreasonable to own something unless you are a big institution. This is chess and the goyim are losing

>>51223089
It's always crazy to me how much Kensington pop up online. It's so normalized in Philly that you forget that most people don't see zombies ever

>>51224176
it blows my mind that the rent in the area surrounding Kensington is the same price as if it doesn't exist.

>>51223594
Your reasoning does nothing to backup your statement, you retarded parasite

>>51222986
maybe im retarted, but how is the cash flow negative below 1700 when it was positive at 1200 pre-covid?

>>51224236
Property tax going up relative to changing market demands, cost of maintenance increasing, stuff like that

>>51224236
mortgage cost is $1700

bought it after covid and the 1200 number doesnt matter

>>51224236
I guess the mortgage isn’t fixed rate so with interest rates rising so do his payments on the building?

Maybe I’m retarded too though

>>51223861
No. The renter is free to break the lease whenever and the owner must put in a reasonable amount of effort, with proof, to find a new tenant. Until that new tenant is found, the old one is responsible for the time the property goes unoccupied. i'd rather break a lease and pay 1700 for 2 months and then 1200 for the next 10 than just pay 1700 for 12 months.

>>51223594
I find it baffling how people think they own property when it's still mortgaged. You have no right to call yourself a landlord until it's 100% paid off. Under this definition, if you're renting it out to essentially have some other motherfucker pay it for you, yes, you're a fucking parasite. Actually, it's a matryoshka doll of parasitism, as the bank parasites you, and you're trying to parasite off of someone else. Literally a parasite ponzi scheme.

>>51224500
Rentie cope

>>51224555
the fact that these rentoids will have a extra $300/month to buy funkpops and i'll be losing $300 is unfair. When is the next bailout to fix this!

>>51224446
>>51223861
The big brain move is to verbally tell your labdlord youre okay with a rent increase of whatever and pay it once, then walk away from the lease and tell them they broke the lease contract by raising the rent before the lease came to term (in writing). Most people have a very flimsy understanding of the law and its easy to goad them into doing things they shouldn't.

>>51223861
in burger land it s annoying. in europoor you just have to give a 3 month warning.....bless USA freedom....

>>51222986
>What do you do with cash negative rental
You dump it. Hope you have solid equity.

>>51224236
he bought at the top

>>51224236
Just off the top of my head of possibilities,

>Cash out refinance at a lower rate but took most of the equity out.
>HELOC
>Cost of maintained, taxes, and incidentals going up
>She financed her primary house and uses the rent to subsidies an absurd mortgage payment.
>Change in standard of living, she is used to 1700 now and she would need to cut back her spending

Also probably most of the above. Look up the wealth effect.

>>51224956
I would absolutely destroy you in court.

>>51225375
Only if your client is smart enough to work in writing, otherwise its just his word against mine, along with a lease and financial transaction records that indicate the conditions of the lease were changes before term.

>>51222986
>I BOUGHT A NEW $1,000 DISHWASHER AND HE STILL WONT RE-SIGN

lmao landys are pathetic

>>51225547
hahaha what a fucking parasite

>>51223594
I dont understand the right of some people owning multiple renting properties . Like isnt a fucking hood over your head a birth given right? Why are some faggots allowed to inflate the price of having a roof over your head?

>>51223594
>Do nothing
>People work
>Collect money from working people
...

>>51225758
if my landlord tried to raise anything regardless of whether the lease is up i would promptly ask if he will be doing repairs and renovations equivalent to the amount that i will be paying extra every month. if they say no i would move to the cheapest dump that exists in a neighborhood that isn't obviously a complete ghetto, just to prove a point.

>>51224500
>You have no right to call yourself a landlord until it's 100% paid off.
By this logic then, every land "owner" in the United States is just renting the land from the government. Didn't pay your property taxes on time to Joe Biden, even if you paid off your mortgage 20 years ago? Too bad, feds come in and kick your ass. Everyone is a "renter" for life: You're either renting from Mr. Copperski from "Homes for Everyone (Except You) Inc.", Mr. Silverstein in Generic Wall Street Bank #193486, or from Mr. Goldbergin the IRS. Might as well be the top of the chain where it's the cheapest and furthest away from you.

Keep coping rentoids. You will never have a SFH.

>>51223083
probably not, apartments are generally horribly mismanaged and leveraged up to their eyeballs. Its literally free money and they still fuck it up.

>>51223594
Well if you have 10 properties rented to other people you deserve to get fucked, fucking parasite.

>>51224446
Anyway why would you ever use your real identity when signing for some mom n pop rental place??? Do people really?
Same thing with most other ‘contracts’, internet phone etc none are on my actual identity address or credit card and they don’t check any of it

>>51223353
The greatest power a man has is to walk away.

>>51223426
Wherever the fuck he wants, asshole. Thats the beauty, he can go inna woods, he can hibo freestyle, he can move into an inherited domicile, or share with family. There are a lot of suitable ways yo live, that while unorthodox, are cimpletely doable.
I myself hallily await the greet land lord groft collapse of this century. We just need a certain threshold of boomers to die

>>51223594
>and if they all go negative they are fucked.


if one goes negative many would have to sell the other nine. depends of course

>>51225885
>Federal property tax

Okay

>>51223469
kekked, also nice god id

>>51223353
You forgot the great value of getting kicked out.

>>51225758
>Like isnt a fucking hood over your head a birth given right
No it really isn't. You're not entitled to someone elses labour.

>>51223594
this is probably bait but you've literally defeated your own point
as another anon points out, you're not a landlord if you take mortgages to rent properties. you're more like the dropshipper inserting himself between product and customer and pretending he adds value

>>51228097
Most landlords have mortgages on properties, especially in the UK.
Paying them interest only to maximise cash flow, and praying that house value + inflation creates equity they can extract im a few years when they sell for retirement.

It doesnt matter if to you its as fruitless as dropshipping, landlords will still do it.

>>51228082
yes i am

>>51222986
Living in the woods is preferable to slavery.

>>51222986
>Suburb in Philly.
What the fuck?

>>51223043
sell

>>51222986
So he was making $50 a month? What is the point?

>>51228082
This is hardcore evil. Not entitled to shelter or food. When leaders adopt this mentality, millions die due to starvation and conflict and the leaders end up being hanged.

>>51228556
I can tell that you don't have to exist around these kinds of homeless people. They're less than fauna because they chose this. They don't even have thoughts; they only act on brain stem impulses.

>>51228545
he is making 50$ a month and paying back the loan with interest
its literally free money and the tenant is paying the house for him over time
now use this house as leverage and get a new one and repeat this 10-20 times and you have a typical "parasitic landlord" which raises the costs of houses and the rent AND creating a bubble meanwhile

>>51228666
this scheme doesn't seem possible in a sound monetary system

>>51228556
Sitting on your ass while recklessly consuming so much that it does irreparable damage to the earth only to still demand even more while contributing nothing is evil too.

>inherited apartment from grandomother
>an old lady with her retarded son has been living ther for 20 years with the same rent (400$).
>immediately kick the old lady and her retarded son out and put it up for rent at 1300$
> Find a couple to rent it to within a week of posting

It feels good to be a landchad

>>51225758
>t. has never, EVER had to upkeep a property or comply with housing regulations

>>51223575
this is the best book and sadly its only available in english

>>51225339
>I'm considering my options.
I recommend suicide for thinking that tech stocks that lose 50% of their value at the drop of a hat are 'blue chip'. he should have blown the trust fund on a yacht instead

>>51224176
Surprisingly good album. Driving to Detroit to see them with a friend, start of October.

>>51223083
This isn't done that often because the jew banker wants money now.

>>51223908
because those loans will get securitized, and then never paid. there will be straw man identities of cab drivers in the hood who "own" 15 houses and never make a single payment, ever, from the moment of the loan origination until it is foreclosed

>>51225547
>these people are landlords
oy vey america is doomed

>>51228556
whine harder you fucking faggot loser HAHAHAHAHAHAHAHA

>>51223043
Hahahahahahaha i hope its not bait. Feelz good man

>>51222986
I don't get it? I wish I only had to pay less than a quarter of my mortgage. Sounds like a good deal

>>51228721
>muh "people are damaging the earth not the shitty corporations running pr campaigns for the last century that appeal to peoples base desires" argument

>>51228556
No organism is entitled to survival.

>>51222986
>Biometer

Lmao this has to be bait. Is public schooling so bad in the U.S. that someone can graduate and not know what a barometer is?

>>51222986
You know they're just going to import more immigrants to offset any demand issues, right?

>>51229367
why? they can just print as much as they want anyway.

>>51225885
>every land "owner" in the United States is just renting the land from the government
that's precisely it

>>51228150
i don't really care what the majority does or doesn't do. and neither should you. that's midwit mentality
objective reality > social consensus
a loan parasite isn't a landlord in the same sense as someone who owns their house outright. if anything, they're akin to an evolved form of rentoid
which is why we see this love/hate dynamic itt. it's all rentoids from top to bottom, in full crab-in-a-bucket mode

>>51228642
Not OP, but I spent and still spend years volunteering for homeless services. Most homeless are working poor that live in their cars because a lot of people are one disaster from not being able to put a roof over their head. The truly wandering homeless, at least in the US, are usually fucked in the head because they're supposed to be taking medication but can't because they can't afford it and are too fucked to get mail + insurance to get what they need.
The rest are prostitutes that got kicked out by their pimps because they caught an STD/became older than 22, etc.

>>51229676
Thats true but in america the main vehicle of wealth accumulation is the equity market. Somewhere like the UK where their ruling class mainly owns property has 0 land tax.

>>51223426
>they still need a place to live
this is like 5% of the value proposition of landowners
there are countless empty houses in rural areas, nobody is short on places to live
what people are actually paying for is a central location

>>51225339
>Has 1mil in stocks
>"Owned" a couple property's
>Never filed last tax returns
>Can't calculate capital gain tax on assets
They sure keep the system running well

>>51229568
rentoids are pathetic but I understand how it must be galling having to tithe most of your income to a high school dropout who thinks he's doing you a favor by providing a working washing machine

>>51229488
what are corporations owned by?

>>51223812

You can show off your big McMansion to other normies, its a physical asset. Same for classic cars and gold. Its narcissism.

>>51224956
This is an awful idea

>>51222986
>people are paying 1.8k a month in rent
jesus christ

>>51222986
>proves landlords do an actual job by putting capital at risk to keep a property occupied
it's only one unit of out how many?

>>51225798
Seething rentfags are the funniest.
>NOOOOOOO you can't just make smart investments and buy a rental property!! I deserve a free house b b be because I just do ok!!!

>>51230797
>you shouldn't be allowed to make money from just investing in something!
>hehe my shibu inu will make me a millionaire when I dump my bags on some loser

>>51223043
buys high, gonna sell low >> never change biz

>>51231333
Kek, nice trips

>>51225547
Free market capitalism is amazing when you think about it.. haggling, competition, demand, "breakeven", all experienced by a single individual who inevitable will make the hard decision between running negative cash-flow or sell of his "side-business" at a likely loss.

>>51222986
>Time to farm off of rentcucks
>Look ... NEED that fifty buck difference! YOU CAN'T JUST MOVE OUT!!!
hahahahaha wow, these really are the end times

so many newfags in a bear wtf is happening

>people drowning in mortgage debt
hey ive seen this one before. different players though, weird

>>51223089
you picked a beautiful area fren. remember markets bounce back.

>>51228556
Agreed. It is government's duty to destroy the economy.

>>51222986
it's "barometer" sweatie

>>51223089
Someday, a real rain will come and wash all this scum off the streets...I gotta get in shape. Too much sitting has ruined my body. Too much abuse has gone on for too long. From now on, there will be 50 pushups each morning, 50 pullups. There will be no more pills, no more bad food, no more destroyers of my body. From now on will be total organization. Every muscle must be tight.

>>51223594
>this is why i laugh when people say landlords are parasites etc.
>there is RISK is property
so, someone else paying your mortagage is "risk"
kys, parasite

>>51224030
>Houses are also at 50% of their pre covid values
what country?

>>51222986
This retarded lead-fume-huffing boomer is literally paying $1700 a month to make $50 a month. Do these people not understand risk:reward ratios? How dumb can you get?

>>51223043
The top? What's that? Real estate only goes up. It actually benefits from inflation, low interest rate fueled easy cash driving up bids, and over leveraged monkeys crowding the market as well as the factors to curb inflation like rate hikes because it's scarce and people always need a place to live, even if it costs $700k @ 6% interest. Real estate has never crashed in the history of real estate, well, not for these specific reasons because this time it's different.
>>51223099
Biz is the 'biometer' for how retarded the general consensus is, so yeah markets fuckt.

>>51235697
Oh you think that's what they were doing? No, what they were really doing was using the appreciation in the house to ReFi or use a HELOC to buy another property.
They take a $500k place, put $100k on it, the house goes up 10% that $550k and now their $20k initial investment has an ROI of 150%
$20k downpayment -> $50k equity, tenant covers the cost of the loan.
If rents start coming down it is going to absolutely demolish the housing market like you wouldn't believe. You have no idea how leveraged the average 'mom and pop' landlord is.

>>51235865
I'm salivating.

>>51235697
They're not, they're getting the tenant to cover the costs of their debt. The whole thing is a massive house of cards, let me explain.
The current real estate investing strategy is to buy a place, with a loan, and to let the tenant cover the costs of said loan with a little extra each month just have a cash flow positive 'business' and spend it on whatever because you should have already assumed repair costs + vacancy into your monthly expenses.
Anyway, because the market has been so overheated houses were appreciating rapidly. So what does Mr. Investor do? He refinances or takes out a HELOC because 'rates can't ever go up because they just can't ok?' and then he goes and does the same thing on another property.
If rents continue to decrease for these big 100+ door buildings then the market is going to absolutely fucking implode because Mr. Investor is leveraged out of his fucking ass and will be trying to unload to keep himself above water and out of total catastrophe.
I wouldn't be surprised if the recent push to get people back to the office was a coordinated top down effort to keep the wagies stuck in high priced leases in urban areas.

itt seething rentoids who purposefully don’t understand property rights because they’re mad they don’t own property.

>>51223089
It's just like the slums in muh h-gaems!

>>51225885
I mean it's literally true though. If you haven't paid off your home, it's not yours

>>51225885
Do you literally not know what a mortgage is?

>>51222986
What does cash flow negative means? they are losing money? but it was 1200 before covid

>>51223812
Yeah everyone around me wants to “get into real state” even my drug dealer got his license lol

>>51223089
So vibrant and diverse!

She should stop being a kike and convert to christianity

>>51236827
Energy inflation probably

>>51236827
>YouTookALoanPayItBackChalkboard.jpeg
It means the rent from the tenant doesn't cover the landlord's cost of debt + other expenses so they have to come up with difference.

>>51237204
oh so stacy bought the top and expect the renter to pay for her wealth increase?

Get fucked Stacy

>>51222986
Do people really pay more than 1k in rent in places that aren't the nice areas of California, Washington, or on the beach in Florida? Literally why? Just go live with your parents.

>>51236000
This... I would love to see how many GAP, HELOC loans are on the market. This could a be a slow collapse. Landlords think they can just buy a house and rent it out for little risk....until a renter stops paying; a roof needs to be replaced and another house needs a new water heater. Oh and housing market just lost 10% of it's value and interest rates are 15%.
It won't be 2008. It will hit the rich who have always had more debt than the poor. Because the FED is after inflation and there is a chance they will over shoot and create deflation to get average inflation around 2%. We are currently at over 9% yoy.

>>51223812
Because its collateral you can exploit to get insanely rich.

i hope boomers all get the gallows with zoomers pulling the lever and i get to buy there cheap shit and cry to them "get a job"

>>51226177
I hate apartments. Always ran by some kike or third worlder type who doesn't care about the residents and just want to spend the bare minimum without getting in trouble. Staffed by brain dead roasties who don't want to be there. Inhabited by brain dead morons who are stuck there forever or someone starting out and trying to leave asap. I am grateful we were never poor enough to live in them

>>51223089
once we send another 50 billion abroad, this will fix itself
>it's all so tiresome

>>51222986
>wtf my rentoid just walked away
>"lel, no refunds"

>>51222986
>i even offered to lower the rent from $1750 to $1700

>less than $1.70 saved every day.

amazing larp

>>51223594
>be landlord
>fail to meet the exceptionally low standards set by law
>most renters are too apathetic or ignorant to know

Most of you are unwittingly committing thousands of dollars worth of crime a month and nobody wants to hire a lawyer to resolve this because they would have to hire a lawyer and take unessessary risk.

In an ideal world a landlord is basically a groundskeeper for a property. Guess how often this happens.

>>51225339
>be me
>lose 500 dollars on bbby
>feel like I have failed irreparably and have a gambling addiction
>go to day job
>do nothing
>still get paid and feel like a pathetic slug of a human stealing money and time
>look at house prices
>going insane because I'm not rich but can afford cucksheds next to niggers
>worry I'm a massive failure of a human being for not having a few hundred k in my twenties.
>go on internet,
>read about a true retard
>i feel less retarded.

I wonder sometimes, like the scitzo I am, if these posts are elaborate fabrications to trick me into making bad decisions confident that someone dumber than me made it work.

>>51223594
>Some people have 10 properties like this, and if they all go negative they are fucked.
Except for the fact that they still possess the property.

>>51233399
Well to be fair it isn't that free a market and people are taught not to share or trust each other

>>51223089
a lot of those people aren’t even homeless, they are just out doing drugs.

>>51237632
I own 3 bedroom/1bath units in south Central LA (Avalon/Broadway) that I get $2700 a month for. All Latino tenants all illegal never complain always pay rent.

>>51223812
Because unlike your bags housing has real value.

>>51224236
They are morons and have a variable rate mortgage.

>>51225375
What? With hearsay?

>>51229568
Holy shit, I thought they were awkwardly referring to bio-indicators.

>>51225339
Women are retarded

>>51224236
My mortgage went up 350 dollars a month even though I have a cheap house and a fixed rate. It's taxes and insurance, insurance goes up every year no matter what you do and the city will lie and bribe inspectors to claim your house is worth more than you can sell it for. People buy foreclosures because the taxes are so much lower in the long run.

>>51225446
Unless he records the conversation, beware of text messages, phone calls or meeting in person. One party consent is the norm in most states.

>>51240506
>Most of you are unwittingly committing thousands of dollars worth of crime a month and nobody wants to hire a lawyer to resolve this because they would have to hire a lawyer and take unessessary risk.
the lawyer is way too expensive. suing a single landlord is not profitable, and so it never happens.

>>51223594
Ticks have to worry about birds picking them. Still parasites

>>51222986
>>51223043
Rentcuck larp. Rents aren’t going down anywhere

>>51240639
Except that they don't because the bank takes it

>>51222986
>>pretty much the biometer

What's a biometer?

>>51229792
Those houses still aren't very cheap.

>>51234763
and it's still a pretty poor analogy.

>>51235047
Well uh I think I know whatchu mean Travis. But it's not gonna me easy. We are gonna have to make some RADICAL changes.

>>51225375
lol i wouldnt even go to court
one of the jew landlords i had tried to charge me money for storm damage to the property . i just left lmao and never called on the date for the renter court thing idk what its called
that was like a decade ago lmao

>>51223043
Deserved

>>51229724
thank you for what you do

>>51223043
where is rent going down

>>51223812
Because if you put $10,000 down on a $100,000 house and rent it out for market value rent and that rent amount covers your mortgage + expenses and then you see appreciation on the house that that $100k is now worth $110k that means your $10k investment just did a 100% ROI. Are you starting to get the appeal now?
Oh btw, did you know that you can do things like a 1031 exchange which allow you to sell the house, roll the proceeds into another house you purchase, and defer payment of capital gains taxes until you sell that house which you can also just avoid by doing ANOTHER 1031 exchange? Did you know you can do those as much as you want until you die and then when you die you can just leave the property to your kids in a trust and the taxes just disappear?
The banks love real estate that's why there are so many back doors and loopholes and write-offs in it. They want you to take out loans, they want you to buy property and renovate it. Every time you take out a mortgage you're letting the bank create money out of thin air. The banks get rich, you pretend you're Donald Trump circa 1992, and if it all goes tits up then congress borrows even more money out of thin air to fix it all.

>>51242678
I'm guessing places that overbuilt and now have way more vacancies than they projected.
The vacancy rate where I live is pretty much non-existent but that typically leads to more construction because there's a demand and if that demand gets met too well then like I said, rents will come down to secure leases.

>>51222986
I tell you the secret about owning property. It's all about KNOWING what you are doing.

That's why you can lose insane amounts of money with real estate or make insane amounts of money. It's all about knowing what you are doing. Also, real estate has a lot to do with knowing the right people.

For example I have a friend who owned real estate, but had zero clue what to do. He get letters and other stuff from the HOA about violations and there was always at least one boomer trying to scam him out of money by demanding bullshit. He even had rentoids in it and he lost money every month because of how stupid he was. Just imagine overpaying for maintenance stuff and having to pay with money and time for unnecessary drives, because you are too stupid to do things right.
Long story short, I knew a few good broker and his property was sold for a decent profit. But without me this dude would have been in financial debt right now, because if you don't know what you are doing in the real estate business, you are getting eaten alive.

If you tell me "I bought it for at the top", or say shit like "I overlooked this damage", then you are unironically not good enough for owning real estate. In fact real estate is something you should avoid completely if you don't know what you are doing. 99 % of the important stuff with real estate are things that have nothing to do with buying real estate or having a rentoid.
Having real estate is like having a PhD. Sure, a PhD looks nice, but 99 % of the work for the PhD required stuff like finishing school, getting your MBA, and other things like internships. The same with real estate. 99 % of the important parts are done before you even visit a potential asset.

>>51244338
>It's all about knowing what you are doing. Also, real estate has a lot to do with knowing the right people.

>>51223812
Because it isn't abstract. They can see it. And everyone else is doing it- herd mentality. And so they think they understand the context in which it exists- markets, wider economy, politics, demographics, etc. That's just how normies function.

>>51223079
overleveraged greedy bastards deserve to fail

The fact that this post I still up means we are at the bottom. Bye Bobo. Bought more.

>>51229724
thank you for everything you are doing, anon

>>51230797
Housing is an investment lol... Late stage capitalism really is evil distilled down to its purest form. Your investment will result in your head on a pike soon.

>>51223353
It is amazing really. I want to buy a home someday when I can buy it with cash. I am paying a premium of about $180 renting compared to owning my current place. It is furnished; has free internet, lawncare, covered parking. I have zero expenses related to this place. To own a mortgage on it would cost me far more and I would have to maintain everything. I love my apartment.

>>51223632
Where can I learn about loans and interest rAtes

>>51225339
>apple, google, amazon and deere can't go down because they're blue ship!! lets just borrow against them!!!
heh

>>51223908
bank scraping barrel bottom to make loans means demand has dried up

>>51223812
tax incentives and leverability

just do as I and go long SRS, enjoy the ride

>>51222986
free markets are at their most beautiful when they are burning the fuck out of midwits and douchebags

>>51242147
They've still got the ability to offload their rental properties and most likely already own their domicile.

>>51223469
Kek

>>51242026
Which is why most landlords keep doing illegal bullshit.

>>51245643
and its the same reason why big corps keep doing illegal shit. fines are too low for the profit they bring and suing small crime is too expensive. its an age old scam

>>51244400
Kek.

>>51229724
I had a coworker who made 80k and was technically homeless because he lived in a car or on his boat.

>>51222986
i live in the suburbs of philly as well. looking forward to moving soon and causing 5 figures of damage (that can't be traced back to me) that will be assumed by my big jewish investment firm landlord.

>>51230797
Landlording via SFHs is one of the most jewish ways to make money. If the homes were designed to be multi-units from the beginning then that's fine but all it does is remove supply to be a parasite.

>>51225339
>BRRRR Finance
Her problem is she fell for the brrrr meme lol. People don't even realize "money" gets destroyed when debts are repaid. She's fucked.

>>51228954
Yeah it's a great book for coping poorfags. People say they want the world to be fair but they really don't.

>>51244400
literally 95% jews

>>51223812
Tax advantages, low barrier to entry, and since rates have been decreasing for 40 years it’s been pretty hard to not come out a winner.

I got your biometer right here cunt.

>>51223089
this is literally the worst street in philly, theres always one. and the suburbs are really expensive and nice, probably better than you can afford.

>>51244757
t. owns nothing and is happy

>>51240639
They dont possess shit. The properties all have mortgages, which means if rent starts crashing, suddenly those mortgages cant be paid and the landlord becomes insolvent. They are over leveraged and exposed to an enormous amount of risk.

>>51229820
And that’s why libturds are hiring 87,000 gestapo.

>>51234644
>blocks your path

>>51225758
Yes you’re right. Capitalism is a deranged ideology that extracts the fruits of human labour for an increasingly small minority of extremely wealthy & keeps us enslaved, impoverished and insecure so that the price of labour power is as low as possible to leverage even more relative surplus value

>>51225824
You could move to Congo to prove your point even more emphatically.

>>51225186
daymn son
postin the mf HEAT over here
sheeeeeeeeeeeet

>>51223089
Only incels see this as a bad thing, these are people living their best life as they want, we need to ensure them have safe access to the drugs they need, food to eat and shelter to stay every night. More love for them, less hate you evil Nazis

https://www.zillow.com/homedetails/1908-E-Lynne-Ln-Phoenix-AZ-85042/7548489_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

We are well pass the top when it comes to prices. No collapse yet.

>>51248803
In the Phoenix area flippers are fucked and it makes me so hard.

https://www.zillow.com/homedetails/3434-E-Baseline-Rd-UNIT-127-Phoenix-AZ-85042/81957423_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

https://www.zillow.com/homedetails/1008-E-Glade-Ave-Mesa-AZ-85204/7629406_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

https://www.zillow.com/homedetails/936-S-Nevada-Way-Mesa-AZ-85204/7629716_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

https://www.zillow.com/homedetails/1026-W-Sunward-Dr-Gilbert-AZ-85233/8178466_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

I don't understand why flippers would be working with such small margins to begin with.

https://www.zillow.com/homedetails/834-E-Sheffield-Ave-Chandler-AZ-85225/52434369_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>51248957
What percentage of the market was just flippers.... these are only the ones getting fucked? There many many more who are still above asking price? We might easily see a 20% drop over the next year.

https://www.zillow.com/homedetails/909-S-Surfside-Dr-Gilbert-AZ-85233/8280150_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>51249038
I hope no one bails these fuckers out

https://www.zillow.com/homedetails/860-N-McQueen-Rd-UNIT-1161-Chandler-AZ-85225/8188932_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>51248803
>>51248843
>>51248878
>>51248899
>>51248929
>>51248957
>>51249038
>>51249088
These are like porn to me
I love watching "flippers" lose money

>>51228721
Thank you for summing up why landlords are evil

>>51235047
>he said to him self as he sipped on his whiskey

>realtor.com removed the crime map to prevent people from avoiding buying something in a shitty area
Jesus christ, the crash must be soon if they're getting this desperate

>>51222986
>biometer
Average housing "investor"

I built a model because I was thinking about getting in on the Airbnb game with a buddy. I found out that it’s really not profitable unless it’s a multi unit property or you already own the thing completely paid off. Your two variables that will make or break it are your occupancy rate and average $/night. Unfortunately it’s not worth it at anywhere near current market rates. I think a lot of Airbnb owners were probably retarded and did no kind modeling before hand.

>>51251097
Mass Airbnb foreclosures would be kino

>>51222986
Lower it by 2/3rds and I might consider it.

>>51225375
I literally flooded a house, left it with poopy stains all over the linoleum floor and walked away as the landlord was screaming his lungs out

I got so many papers in the mail to go to court which was very useful because there was a TP shortage going on at the time.

>>51222986
Vivian why did you throw the toilet out the window?
Vivian: "To lower the rent. You don't have to pay as much for a house with an outside lavy".

https://www.youtube.com/watch?v=6FTFifA3btU

>>51225885
extremely based

>>51225885
salt covers property taxes though

this bread is indicative of how much of leddit figured out how to use the website

>>51252548
Going to reddit to laugh at retards does not make you a redditor. It's like saying that going to the zoo makes you an animal.

>>51252723

>>51252733
>basedjak spammer
oh nevermind, you're a newfag trying to fit in

>>51252744

>>51223594
>if they all go negative they are fucked
Good.

>>51223594
GOOD!

landlords and real estate investors are fucking retard midwits that benefited from quantitative easing, zero percent interest rates, huge housing boom and bust cycle, unfettered immigration, and ZERO house building

RENTS UP, but no ones paying

>>51223043
Pro investor move. Buy high rent no.

Landlord here. There's a lot of bitter Marxists in this thread that literally would result to violence against people providing a valuable service to give people a roof over their heads. We have a social obligation and if it wasn't for landlords society would collapse.

I mandate
>proof of job and high income
This attracts the best applicants and tenants
>proof of current COVID vaccination status
I don't want plaugerats and trumpers in my building.

Sick of this thread and all the hate in it.

>>51253960
Can we have more based Smith posting?

>>51254307

>>51253960
>>51254307
Marx was directly inspired by Adam Smith.
No Smith = no Marx = no Global horror from communist revolutions and regimes. Kill yourselves.

>>51254344
Smith literally was a proto-Marxist. His, and Marx's, observations are based and true.

The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers. To widen the market may frequently be agreeable enough to the interest of the public; but to narrow the competition must always be against it, and can serve only to enable the dealers, by raising their profits above what they naturally would be, to levy, for their own benefit, an absurd tax upon the rest of their fellow-citizens. The proposal of any new law or regulation of commerce which comes from this order ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.

Is there any other human being who has been as based as Smith?

>>51223043
>>51222986
>>51223089
cut your losses and sell.

>>51254373
>>51254342
>>51254307
>>51253960
HAHAHA copium
Rent is still due. Go back to the wage cage.

>>51254434
Better start producing things so I can CONSOOOM, since that is the sole end and purpose of all production :)

>>51254234
The FED'S easy money during covid allowed the rich to buy a fuck ton of homes at 3% rates. What is happening is not capitalism.

>>51254468
Also add in a ton of inflation that hurts workers and helps investors of fix assets.

>>51254307
post the quote where he predicts that we'd have 20 hour work weeks by now because of technology increasing productivity

>>51254468
>during covid
lol more like the past 20 years

>>51254488
Are you thinking of Keynes? I don't think Smith ever made such a prediction

>>51254520
Googled it and I was, but I did find that he advocated for shorter work weeks.

>>51254541
Yeah I saw Smith mentioning how people were working too hard in their 4 day work weeks so that they were too exhausted to be productive in the other 3 days lol

>>51249133
>>51249088
I don't get the hate on flippers, literally all they do is fix places up and make them desirable to live in.

>>51236000
>I wouldn't be surprised if the recent push to get people back to the office was a coordinated top down effort to keep the wagies stuck in high priced leases in urban areas.

there's commerical real estate leases which is the bigger issue. Office space leases.

>>51254602
>Buys decent house for 350k
>Does a shitty remodel of the kitchen for 30k
>Replaces the carpet for 5k
>Tries to resale for 450k

>>51236000
checked, but the risk is still 1700 a month regardless of the tenant's ability to cover that risk. Every month is a diceroll banking on the rentoid's ability to slave away for their landlord. Like you say, it's a massive house of cards and the entire financial industry in America for the last 40 years has been built around trying to sell people "The American Dream" of owning cashflow-positive properties and retiring early. However, as we saw in 2008 the whole thing is a multi-trillion-dollar scam and the financial industry offloads their own risk onto the shoulders of both the rentseeking parasite class and the individual homeowner.

>>51242096
based and ecosystempilled

>>51242770
How many layers of tax fraud debt leverage gambling should I study to take part in this system? So your saying if I leverage max on properties rent I can use other people's rent to pay my rent? It's not like anything bad could happen anyways.

>>51242157
they mean 'barometer'

>>51244400
>13. DAVID DAVID
cousin of Duran Duran

>>51244400
oy vey

>>51228864
And when you become old your own kids will kick your ass to the nursing home. The circle of life unfortunately, but you're perpetuating it kek

>>51223435
Doing a PCR test

>>51223043
>i bought at the top and cant afford to lower rent. i was relying on rents going up, but now they are going down
if this isn't a larp, you'll get what you deserve

>>51249088
Thanks for these anon. I enjoyed them

>>51225547
>ugh
Why do they do this?

>>51228864
I hope you end up in a nursing home surrounded by immigrants speaking in another language and they’re actually just disrespecting you in their language while you sit there, tubes in your nose can’t do anything but shit and watch tv

I hate capitalism so much, can't wait for end state communism with all knowing AI controlling all production

>>51223089
OH SAY CAN YOU SEE

>>51254602
Nice bait

>>51251005
kek

bizarre cope thread

>>51254666
>sells to another flipper
>remodels the bathroom for 5k
>fucks up plumbing in process
>has son and sons friends repaint external
>list for 550k

>>51254627
The leases are a fixed cost though so that doesn't matter.
>>51254666
Ok and? Either buy it when it's in the shitty condition or buy it after or don't. They aren't fundamentally doing anything wrong.
>>51254763
People always get greedy and get burned. The name of the game in real estate is literally infinite debt maxxing w/ tax write offs. Your whole objective is to basically get debt and have someone else pay off the debt.
>what could go wrong
I don't disagree there at all, I'm just telling you how the game is played.
>>51256357
It's not bait. You're telling me you're pissed off because someone bought a house, fixed it up, and resold it? Why? It doesn't exploit anyone.

>>51223575
Thanks for this book. I am at the second chapter now and I needed to stop because I got so terrified

>>51228082
But it's landlords that are taking advantage of other's labor though.

>>51222986
well if they did eat the excess $300 a month they will likely need to continue paying it through 2023. well say the ttoal out of their pocket will be $7000 to be generous

after time the property will regain its previous value, and thell be up much more than $7k. they can also restore rent to higher levels and recoup some of the money that way

i would look into gay pinterest addons that can increase the rental ask. something stupid like a hot tub, or trendy kitchen remodel. if you can do it foe less than what youd put out ti cover the extra youre laughing

>>51251097
>>51251135
No going to lie... I want to throw a dozen of eggs at AirBnBs until they sell.

>>51225758
It is in a functional society but apparently not in a (((free))) one.
The rise of communist/socialist zoomers, even though most of them are functionally retarded, is a natural response to the current economic climate in the West, especially the US which could be described as nothing short of predatory.

>>51223089
>>51223435
One of my friends's friend moved there with his girlfriend. He said one time, he was sitting in his car about to go to work, and a druggie just opened his passenger door and said "Take me to the hospital, I'm cold"
I have no idea why he didn't do research about the area before he moved.

>>51258089
Did he?

>>51258105
Nope, told him to get the fuck out.
He still went to work that day; I would've called out, or at least told my manager I need a few before coming in.

>>51258063
eggs are pretty expensive now

>>51258163
One star reviews are too

>>51237764
It'd work if Fink and blackrock weren't considered 4th branch of government.
They actually have more power than the president or the fed and will not let anything go.
They have 170billons in cash to buy if they decide to let shit go down, they make money whatever happens anyway.
Small landlords and strippers with 4 homes will go bankrupt but get eaten by bigger ones until there's a monopoly.

>>51223043
>pic rel

>>51254373
it's pretty funny that Marx became this boogey man that almost everyone is afraid of, yet almost nobody alive even knows what his philosophy and economic theories were. It's pretty funny most people who claim to be interested in economic theory would say they disagree with Marx, but can't point to a single concrete example of where he was supposedly wrong. I mean you can argue with some of his opinions on historical determinism, I'm not 100% convinced we're going in the direction he said was inevitable based on materialist methodology, but his actual diagnosis of how economic and political systems form and function were spot fucking on.

>>51223594
Landlords are parasites.

>>51258927
the red scare shaped modern america.

>>51254602

Flippers price working people out of the housing market by raising the prices until it becomes a self-sustaining cycle of price raises.

I can do dry wall and paint. What I can't do is spend 900k on a 3 bedroom in a shit neighborhood.

>>51259156
>>51258927

Are we forgetting the millions of people tortured and murdered under communist regimes or are you shills always going to conveniently forget that? I fucking hate liars like you.

>>51223043
rope yourself landie

>>51222986
>The biometer
It’s Barometer, you useless grifting kike.

>>51259252
yeah but we did a slavery so that makes it all okay

>>51259252
using deep scare psyop tactics against an unethical regime does not legitimize the former

>>51259252
Are you forgetting millions of people tortured and murdered under regimes running under capitalism? In some cases literally in the name of capitalism, like during Indonesian mass killings in the 60s where the US government helped torture and execute up to 3 million people (more likely ~1 mil, but still) just based on their association with socialism?

I won't deny there were authoritarian regimes responsible for horrible atrocities that were guided by ideologies derived from marxist theories, that's true, but at the same time capitalism is responsible for an unbelievable amount of human suffering too. But actually what most developed countries look like today is what Marx would have called "socialism", one stage before actual, real communism. Marx believed achieving communism (a classless, fair and equitable society) was only possible via a bloody revolution, which I (and vast majority of socialists in the world) disagree with, but it doesn't mean the rest of his theories were somehow wrong / inaccurate

>>51259549
Sorry nigger I like big Macs and trucks not breadlines and public transportation so your faggotry is invalid

>>51223089
Boston fag reporting in. Fuck Philly.

>>51258927
lol marx was a vagrant and begged for gibs, he was pretty based when he called out niggers though.

>>51258927
>people who claim to be interested in economic theory would say they disagree with Marx, but can't point to a single concrete example of where he was supposedly wrong
Neither most of the people who say they agree with Marx know his shit so fuck you.

>>51259238
>>51258000
In the Phoenix market and other hot markets flipper are buying from other flippers. You see homes sold 3 times in 3 years

>>51259156
The Red Scare was the single most potent political propaganda campaign in human history (yes, it even put the Nazis to shame). A century later it's poisoning effect still holds massive sway over the American public despite the fact that it's completely spurious. Hell, has anyone cared to notice that the evil communists in China are literally surpassing the USA to become the biggest economic powerhouse in the world? China's government can literally walk into any business in the country and seize direct total control over it at any time. And yet they have skyrocketed from essentially a third world country to become the #1 economy on the globe. A bit inconvenient for the narrative that free markets are inherently the best economic drivers! But maybe you want to hang your hat on the fact that free markets produce better outcomes for citizens? OOPS every global ranking of citizen's welfare shows that more socialist countries like Canada, the Scandinavian counties, and European countries in general are far superior to the USA in almost every single metric to measure the well being of citizens. To summarize, the USA "free market" has done what every free market does without strict supervision by a central authority, it became completely captured by a small interest group who then used monopolistic power combined with political influence to profiteer off the American public, leading to the country going down the drain.

>>51259549
>>51259746
Just have a cursory look at Central America and how the USA has propped up brutal regimes which routinely carry out mass murder of dissidents, all in order to secure those countries as essentially vassal states to the capitalist interests of the USA.

>>51222986
>>51223043
>>51223089
How much is your loan that you unironically need $1700/mo just to break even

>>51251192
Were the any repercussions for pulling off such a stunt?
I'm considering doing something similar at my current apartment and abandoning ship.

>>51223043
Hol up. Apartment complexes set rent? What’s the point of being a landlord if you’ll just be cucked by the apartment managers?

>>51258927
The labor theory of value is ojectively wrong. Value is determined by supply/demand curves.

Nobody will ever demand your neo-vagina blood paintings, you'll need to get a real job and provide actual value, Troon.

>leftypol is raiding again

>>51244728
>Late stage capitalism
Leftoids will die out sooner than capitalism

Georgism is the answer, or so I'm told.

>>51222986
>suburb in Philly
kek

>>51225885
>Too bad, feds come in and kick your ass
this doesnt happen. if you own land and dont pay property tax, no one is going to send in cops to get in a gunfight with you, theyll just wait until you die. in that sense, you really can own land. until death.

>>51229878
I rented for exactly one year after moving for a new job and this is exactly how I felt. Holy fuck was the landlord a retard.

Goddam, this board is dead. This thread is STILL up?

>>51258927
Marx was a polemical sophist who said a hundred different things. He was right on accident or on the back of others more than any of his original insights were.

>>51250879
>he typed with his fat fingers as someone mentioning self-improvement made him feel inadequate

>>51265435
yes... It is labor day weekend and everyone is realizing their current living condition suck.

>>51248803
>>51248843
>>51248878
>>51248899
>>51248929
>>51248957
>>51249038
>>51249088
This makes me happy... But after to include the interest rate increasing. All these home cost even more. Can't wait for them to drop +20%.

>>51222986
you get what you deserve you parasite scum