I'm okay with losing 10 percent to be hands off.
The U.S. Will Become A Nation of Renters
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I'm okay with losing 10 percent to be hands off.
Yup and the company I am using are overly professional (owner is a young white dude that probably is a millionaire). Moving company, real estate, contractor, and property management all in one. The property manager even told me she has a lot of friends than went to USC....
Flat out told me I would get my money deposited every month. Will pay the mortgage and HOA as well....
First property I have ever rented FYI...
I don’t think so but I’m in Ga. Depends on the state but especially when you are 100% disabled permanent and total you get a huge tax break or no taxes at all.
I’m at 90%, wish I could get to 100
You ever deploy?
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I call it housing disability such as the long term homeless that need a case worker or somebody that gets evicted, or unable to live cooperatively with neighbors. They may be unable to manage their financial affairs to avoid eviction or maintain employment. It is a complex task to manage your finances or maintain employment for the feeble minded.
There are some people that can not live in a house, apartments. I try to assist them because they can't take care of themselves. They destroy the property when the leave and is the reason we have to pay huge deposits. It is a site to behold when you go into an apartment of a person that has been evicted and they have destroyed precious housing stock due to drugs or mental illness.
We should look at long term homeless as being disabled, unable to take care of their financial affairs.
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I call it housing disability such as the long term homeless that need a case worker or somebody that gets evicted, or unable to live cooperatively with neighbors. They may be unable to manage their financial affairs to avoid eviction or maintain employment. It is a complex task to manage your finances or maintain employment for the feeble minded.
There are some people that can not live in a house, apartments. I try to assist them because they can't take care of themselves. They destroy the property when the leave and is the reason we have to pay huge deposits. It is a site to behold when you go into an apartment of a person that has been evicted and they have destroyed precious housing stock due to drugs or mental illness.
We should look at long term homeless as being disabled, unable to take care of their financial affairs.
You stated nothing but FACTS. I have had a couple of vouchered tenants who were previously homeless long term, and it was hard for them to adjust to an apartment. They usually turn the apt into a flophouse, basically a small homeless shelter. Random people sleeping there, clothes everyone, trash piled up, just general disorder. I believe at that some point, they have had so many organizations or shelters taking care of them, it is hard for them now to take care of themselves. It's hard for them to live by themselves, organize their day and basically fend for themselves even if the govt gives them money every month.
One of the craziest stories, I had this homeless Spanish guy I use to pick up at Home Depot as a day labor. He won $250,000 off a $20 scratch off. I gave him an apt and was charging him rent. He could not take living by himself in the apt. I am guessing he missed that type of communal living in the streets and shelter. He last 3 months and left. I tracked him for a minute, he went to NJ, Boston and then I lost track of him. However, he blow thru the money in a year and a half.
Damn that is what I am talking about, I call it housing/homeless disability. I take for granted my ability to live in housing without issue. Some people can't plan, budget, or survive in an apartment; let alone a house. I just came out of unit like this, I would never leave a landlord like this.
They need a case worker meeting with them daily like a parole officer helping them survive in housing.
My experiences living in extended hotels and apartments, I have gleaned some valuable insights.
1. When they saw me move in with a bunch of stuff, that is when staff bucked up and exploited my inability to quickly move out. I began to experience scams and other tactics. I did not have a car, so being able to load up my shit and get out was limited which they noted. I was able to exploit labor markets nationally that were short, and quickly moved around the country. I missed a lucrative opportunity early in my career because I was saddled with furniture and had a lease with no buy out option.
Fools are renting with enough furniture to put in a house, you need to live like you are in a micro apartments, don't let the extra space trick you up. This is why housing/rent is unaffordable, renting month to month or yearly, with enough furniture to fill up a 5000 square foot house.
2. The same thing happens with apartments, people move too much stuff into their apartments. I would keep a storage unit on the side, and only keep at your apartment what you absolutely need. You don't need a heavy ass couch, dining table, huge desk, drawer, book case, speakers, or big ass TV with surround system. Today, they have mattresses in a box and cheap bedframes that you can setup that are nice. I could move out of an apartment almost like living in a extended stay hotel.
3. Signing a multi year lease for 5 years with a special buy out option to break. This will freeze huge rent increases that occur yearly. I spoke with some lady, that was a long termer, telling me the monthly costs had gone up over $500 easy. Won't this leave me on the hook for 5 years of rent? The paid option to break the lease gives you a way out. In places like San Francisco or other housing markets this could be a viable option giving you almost mortgage like ability to freeze your housing costs.
4. If you do the calculation and some projections, if they zap you with huge rent increases over time, the costs to break the lease would be much less. You will eventually reach a break even point. This is how companies sign store deals with real estate developers for 30 years. I might come out with a spreadsheet that does the calculation.
5. The only time you load up with furniture is when you get a mortgage and buy a house, if you sign a long term lease you might be able to get away with it.
Cheap furniture that you can throw away, no couches, cheap quality bed in a box, no dining table, huge multi room TV, drawers, appliances, bare minimum clothing. No king size mattresses for just yourself, twin or full size at the most that can be carried out by yourself. You will most likely get rid of it when you move into a house anyways.
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I just saw an apartment that I was looking jack rent up $300. If I had came in and signed a 5 year lease with a $4000 buy out option. The first year I would break even between the rent increase and the buy out option. Some landlords offer discounts on long term leases, which is another plus.
Year 2
The rent goes up another $200 plus the $300 rent increase. Now I am banking $6000 on Year 2 plus $3600 with Year 1. After five years, you could be looking at easily $25,000 to $30,000 easy in savings.
If you wanted to walk away after year 4, you still are coming out ahead big time.
Most of the feeble minded are thinking I sign a five year lease, I got to fulfill the terms completely, and this is not the case.
Year 2
The rent goes up another $200 plus the $300 rent increase. Now I am banking $6000 on Year 2 plus $3600 with Year 1. After five years, you could be looking at easily $25,000 to $30,000 easy in savings.
If you wanted to walk away after year 4, you still are coming out ahead big time.
Most of the feeble minded are thinking I sign a five year lease, I got to fulfill the terms completely, and this is not the case.
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Now, just five markets of the top 50 cities favor homeownership over renting in December.
Memphis, Tennessee, had the biggest savings to homebuyers over renters, with the monthly cost of homeownership 32.7% less than renting. It was followed by Pittsburgh; Birmingham, Alabama; St. Louis and Baltimore.
During the first half of 2022, as mortgage rates surged, several cities flipped from being favorable to buyers to being more favorable to renters, including Atlanta; Baltimore; Charlotte, North Carolina; Cleveland; Hartford, Connecticut; Indianapolis; Philadelphia; Miami; and Orlando, Jacksonville and Tampa, Florida.
Pretty dead on. Cant speak for other places but a lot of people in ATL are struggling on the low. Folks moved here for 800 a month rent and now it's double that.
FACTS. At my part time job, there was a young lady who parents just built a home in South America (that's where they are originally from). Showed me pics and I was like WTF? Like she said it cost like 300K, has a full time helper, in a gated community, and the beach is within walking distance....
As an outsider, what are the main industries in ATL?
And in South America, that $300k is GENEROUS. You could do the same for half that and still live very comfortably.
I seriously don’t understand why I’m staying in this country anymore, outside my job. As soon as I’m fully remote again, it’s a wrap.
Liquidating and gone.
That's what I'm talking about!!
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Through its public, non-traded REIT (real estate investment trust), Blackstone Real Estate Income Trust, or BREIT, the company has agreed to acquire Home Partners of America (HPA) for $6 billion. That deal will give Blackstone control of more than 17,000 single-family homes across the country.
Blackstone is stepping up evictions of hundreds of tenants across the US as a top exec vows 'cash-flow growth'
- The investment giant Blackstone has increased its eviction filings in the South and the West.
- One of the country's biggest landlords, Blackstone provided aid to tenants for much of the pandemic.
Data compiled by the Private Equity Stakeholder Project, a nonprofit advocacy group that tracks private-equity investment in housing and other sectors, shows that Blackstone's eviction filings significantly increased since July. In Florida, Blackstone has filed 382 evictions since July. It's filed another 311 cases in Georgia. The Private Equity Stakeholder Project's research found another 104 eviction filings in Clark County, Nevada, home to Las Vegas, as well as 125 cases in Maricopa County, Arizona, where Phoenix is.
Jim Baker, the Private Equity Stakeholder Project's executive director, told the Financial Times that Blackstone's status as one of the country's biggest landlords means its actions resonate widely.
"Given Blackstone's massive role in the housing market, the firm's recent move to evict tenants threatens housing stability for families in the US and around the world," he said.
Blackstone owns more than $326 million worth of real estate across the country. About one-fifth of those holdings are tied up in an investment vehicle known as the Blackstone Real Estate Investment Trust, or BREIT. Over half of BREIT's $69 billion portfolio is made up of rental housing, and 97% of those holdings are in the US.
Blackstone's head of real estate for the Americas, Nadeem Meghji, told employees in an internal company call in December that Blackstone was "seeing a meaningful increase in economic occupancy as we move past what were voluntary eviction restrictions."
Meghji added that Blackstone was predicting high-single-digit growth for rents in its student-housing and affordable-housing holdings in 2023. Meghji suggested he was confident that the evictions would help contribute to Blackstone's future "cash-flow growth."
Evictions have been increasing across the country as landlords of all sizes seek to recoup money they lost during the pandemic because of federal and state eviction moratoriums. Data from Princeton's Eviction Lab, which monitors 32 cities and nine states, shows that more than 9,300 eviction cases were filed in the first week of January, compared with just over 7,700 cases filed during a week at the end of December.
A Blackstone representative told Insider the company had "the most favorable resident policies among any large landlord in the US."
The representative said the firm waived late fees, provided more flexibility for tenants to cancel their leases, offered rental assistance, and allowed tenants to enter payment plans if they were behind on rent — policies that went further than the requirements of the moratoriums that prevented landlords from evicting their tenants during the pandemic. The federal moratorium ended in August 2021, but Blackstone's tenant-relief efforts continued well into 2022.
"Eviction is always a last resort," the representative said.
Blackstone's real-estate portfolio is outperforming competitors
The news of Blackstone's increasing eviction efforts came days after the company announced its fourth-quarter earnings. It said its total assets under management — which covers all Blackstone's businesses, not just real estate — grew by 11% year over year, to about $974 billion.
Blackstone also said its core real-estate portfolios have performed well with room for even more upside. For example, what Blackstone calls its "opportunistic" real-estate portfolio appreciated by more than 7% during 2022 in one of the most challenging markets in recent memory. The firm's core real-estate portfolio gained more than 10% in value during 2022.
BREIT specifically has outperformed several publicly traded REITs. The fund's website indicates that as of December 31, it had produced an annualized return of 8.4%. For comparison, Vanguard's real-estate index fund lost more than 17% of its value over the past year, while iShares' Core US REIT lost more than 14% of its value.
I want to buy a house this year, but I’ve been going back-and-forth over the last few weeks. Listen guys, I have no children but I have six sisters with a ton of children so my mom is happy with grandchildren and great grandchildren. I have some relationships with women, but nothing to the point of be a ing married. (I almost got married twice the first time would have been a disaster. The second time I fucked up) In other words, I’m a single man in Atlanta, which is fun most of the time. Oh by saying all that I am not in a rush to get a house.
Your relationship status is not a reason to buy a house though.
What does any of that have to do with whether you buy a house or not? No matter what anybody says if you can, it’s always better to buy if you can.
You don't have to be in a relationship to have house. A mortgage is an investment. At least with a house you can see a return. You will NEVER see a ROI renting.
Start looking for a duplex and rent the other side out to pay for your mortgage.
Buy something bro. Period.
Wow! Heartless slumlord!!
Buying is tough right now... Those interest rates are destroying buying power. I was looking at moving but shiiiid. I'll just keep window shopping on Zillow with my sub 2.8% rate.
Also, housing prices ain't coming down around the DC area...wtf.
Also, housing prices ain't coming down around the DC area...wtf.
DC home prices lower than a year ago for first time in years
DC home prices lower than a year ago for first time in years - WTOP News
For the first time since September 2016, the median selling price of homes in the D.C. area is lower than it was a year ago.
wtop.com
Nah.
I was under charging. Bitch had a deal. Market was 1800-2200.
She didn't value what she had. Bet she does now.
Next folk will pay market rates. No more Mr. Nice Guy.
And this ain't slumlord property. It's in the nicest area of the city. FOH
DC home prices lower than a year ago for first time in years
DC home prices lower than a year ago for first time in years - WTOP News
For the first time since September 2016, the median selling price of homes in the D.C. area is lower than it was a year ago.
Depends on what you're looking for and where. $625K in DC could be a condo. FFX county ain't budging.
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Lots of us are renting below market. Once my current tenant leaves, I'm raising the rent to $5,500. Fuck that.