usrevenge t1_j2uho6j wrote
Reply to comment by AstreiaTales in Home price increases weakened sharply in November, posting the smallest annual gain in 2 years -CNBC by wander9077
Buy a house for $200,000 renovate and fix it up make it multiple family building for $150,000 more then then rent out 4 apartments for $1500 each per month.
Frankly lots of companies just buy that house fix it up enough to call it livable and rent it out for $2000 a month.
That means someone works for 3 weeks and hands the wages to the landlord then survives off the scraps.
thyroideyes t1_j2usb5l wrote
This is only profitable because we have a severe shortage of housing, also multi family housing is illegal in much of the US, thus, whole neighborhoods zoned single family…
Inconceivable-2020 t1_j2xndxj wrote
Yeah, but where I lived, there were two Casinos nearby, and Houses that could not be converted to multi family, tended to be snapped up by people that turned them into Hot Bunk houses. Also illegal but never enforced.
thyroideyes t1_j2xy8w8 wrote
Well if your city had their shit together they would upzone neighborhoods so that multi family housing was legal. Single family only neighborhoods restrict housing availiblity, so of course landlords take advantage of it! It’s like if there were a food shortage, of course prices will go up and yes people will start selling expired food in back-allies. Your area probably has more jobs then housing, the only way to fix that is more housing, or you know less jobs.
AstreiaTales t1_j2uhtjk wrote
You've turned 1 home into 4. I don't see the problem with this.
Boner_Patrol_007 t1_j2ujvqu wrote
Agreed. We need more quadplexes, duplexes, and so on. They don’t all have to be rental units either.
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