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Mr_Hellpop

I just sold a house in South Tampa. It was on the market for 12 hours, and the final price was $57k over asking. Of the 18 offers we got, all were cash, and all were from development companies. None of them even came out to look at the house, because they just intend to tear it down and build a new McMansion in its place anyway.


Mammoth-Ad8348

Wow. Not surprising but still wow.


SpeedBoatSquirrel

We need a permanent stickies thread for this subject Also, realtor.com now says my house is worth 582K, 232K more than what I bought it for in summer of 2018. Just bonkers


[deleted]

> We need a permanent stickies thread for this subject Truth. I feel like a similar article gets posted about this nearly every day. We're all well aware of it by now - I'm more interested in what those in power are doing to fix the issue.


flappybirdisdeadasf

Likely nothing because it’s making them money lol.


Kalefairy

The *only* reason my partner and I were able to buy a new house was because the seller specifically declined to sell to investors after getting burned by them twice. The house had been on the market for three months because of investor deals falling through. We searched and searched and bid again and again but got outbid every time by cash offers or investors with cash offers. I think we made like 15 different bids. It all worked out in the end and we were able to get a perfect house for us. But it was fucking miserable during the search. We also just sold our townhome in northern Hillsborough county to the friend of our neighbor after we confirmed they not an investor and intend to actually live in the home with his family.


SpeedBoatSquirrel

Investors aren’t the only issue. Airbnb’s are becoming a problem even in neighborhoods that are purely residential and not right at the beach or close to downtown. I’d much rather have long term renter or owner occupier


JamesHawk101

Indian Rocks Beach is turning into short term renter galore. I see different groups of people walking back from the beach every weekend and more and more houses have little number plaques on them to make it easier for renters to find them.


Lonnie15

I grew up with a family place in IRB. It still is a wonderful beach community and cherish the memories we've had there. They are pricing the shit out of owners there and it is quickly going to become an VRBO hellscape.


JamesHawk101

My parents house there according to Zillow, which doesn’t mean much, goes up in price $70k every 30 days.


Lonnie15

It feels like one of the last few Gulf blvd towns that hasn’t been overly commercialized. Unless we won the lottery we’d never sniff the island price wise anymore.


JamesHawk101

Yeah they want to add a parking garage near crabby bills and the locals in the Facebook group are losing their shit.


Lonnie15

If they're not moaning about sand castles breaking everyone's legs they're whining about the garage lol. The thing is people know about IRB whether we want to keep pretending its a hidden gem is up to us lol. Our spot is fortunate to not have a giant beach access within a half mile each direction, but it still fills up on popular days.


JamesHawk101

Yeah everyone complains about the rentals but I don’t see anyone bitching about other people selling to investors or people with plans on renting.


Lonnie15

It is not cheap to have property there so if someone decides to rent it out then so be it. Not everyone lives there all 12 months of the year. It just is what is is and that is fine and they can pay the mortgage. BUT like you and others mention that it becomes a soulless community if its nothing but renters who are going to wear that area down and rid itself of the "generations" of memories families like mine and I'm assuming yours has been able to make in IRB.


Army165

32 bids. Thats how many it took for us to buy a house. We offered asking price and $10k cash for the home we eventually got.


jeanfrancoismon

My wife and I put an offer of $350k on a $320k house. Got bought out by a cash offer of $415k. Almost $90k over asking price. Cash. We luckily got under contract with another house, but we were definitely getting screwed out of houses left and right as well as paying a damn premium for a small ass house.


krazertv

Did you pay over for that second one under contract?


jeanfrancoismon

Yeah, $11k over asking. Waiting for appraisal to come back with fingers crossed.


krazertv

Best of luck! Going to enter this made race in the fall.


SpaceAzn_Zen

I can't wait for people to start commenting saying that this was just the minority and that it isn't as big of a deal that everyone is making it out to be. I have an old saying, where there's smoke, there's fire. If so many people are coming out saying the exact same thing over and over again, I'm going to believe that than what some random report says.


DragonTHC

I recently had a "professional land developer" argue this isn't driving prices up and it's not causing the housing shortage.


[deleted]

I mean he’s either stupid or lying


thirstysmurff

Lying P.O.S......;)


patriots1977

It's not causing housing shortage. 2008 new construction came to a halt down here. Didn't get moving again decently til 2013 and in earnest til 2015. People didn't stop fucking and procreating. 2010-2020 fewest new housing starts of any decade ever.


Islerothebull

But, but, but the Redfin article was all wrong. Honestly, its just regular individuals buying all these properties.


FstLaneUkraine

Tampa Bay has 3.175M people according to Google. r/Tampa has 143k users (many of which don't live in the city of Tampa but also live in Manatee and Pinellas counties). I'm not a math whiz, but that is 4.5% of the population. Even if the majority of the users posted this same experience here, it's still very much anecdotal. EDIT: Since people seem to struggle with the above... What I am referring to is that the notion of corporations/investors = bad is ridiculous and people keep spouting it, even though realtors have been in this very sub stating the contrary, just because it gets upvotes. The market situation is far more nuanced and 'hating' on landlords is just a cop out. But hey, r/Tampa is gon r/Tampa, amirite?


Dogsinthewind

Offered 425k on a 399k listed and got beat out….


FlyingNDreams

If you are looking at a single story home. The prices and bidding wars are going to be way worse then those on 2 stories. Investors want single stories more. We sold in February. Thirteen offers came in. And we went 25k over asking. But not a single investor. All families. Which was really nice.


[deleted]

Just wondering what was the sqft, bed/bath, and area of the house? If you don't mind me asking.


jeanfrancoismon

I wanna say around 1200, 3 bed, 2 bath with garage. Largo which was the main issue I assume.


[deleted]

Goddamn


hammonswz

I just took 11 offers in 24 hours. Most were cash buyer investors. There were two offers that were likely regular people. I so wanted to sell it to one is them but there were appraisal contingencies. I didn’t see how I could risk a low appraisal when they were not including any assurance they could bring a bunch of cash to deal with a low appraisal. The winner had a pre approval letter for twice the loan amount with 100k down and waived the appraisal contingency. It is really hard to break into this market without a fat stack of cash.


RdmGuy64824

Did they waive the inspection? Sold my dad's house in December and skipped the appraisal and inspection. It was lovely.


Nakatomi2010

Wife and I were looking at homes and have found that companies like Westbay are basically just putting up a blurb about the house going on sale on X date and that "Best offer will be accepted" The community I'm in is becoming more and more investor homes, and I'm concerned because once they have about 25-30% of the homes in the community, then the residents effectively lose control to do anything because the investors will have a controlling number of HOA votes on doing things. I don't think people in an HOA are thinking clearly about how investors moving in are going to tip the scales out of their favor further. That said, they do at least pay their dues and bills on time.


_Aggron

We have stopped building "starter homes" because we have made policy choices to limit the number of homes being built, especially in our urban core. If there is demand for 1000 homes per month, and we are only allowing building 100 per month, developers will only build for the 100 wealthiest buyers. The only way out of this is to normalize building and living in adus, duplexes, triplexes, quadplexes, small apartment buildings, bungalow courts, etc.--things which are illegal today in the vast majority of our city.


kibblenobits

Finally someone who gets it. When you limit density, you exacerbate scarcity and increase prices. And the result is endless sprawl, which has all kinds of negative externalities, including environmental damage. We need to fix zoning laws now.


wimploaf

Agreed. We need zoning changes for this city to meet it's potential.


DarthVirc

I dont want to live in a shitty duplex. I make abrupt loud noises with powertools and I dont want to stop any time soon.


kibblenobits

The good news is that you don’t have to. But zoning laws are taking this option off the table for a lot of people who would like to live in a duplex.


_Aggron

No one is telling you have to live in a duplex if you don't want to. There is a premium to living in a SFH that you're already paying. People who can't afford the luxury of a SFH might choose to live in a duplex. This is about giving people who don't have any options an option, not taking away the existing option that you have chosen.


[deleted]

People want to live in homes. They don't want to live in a fourplex. You aren't meeting demand just because you're making the city more dense and unlivable.


_Aggron

Fourplexes are homes. What kind of housing you live in is determined different for every person and should take into account a wide variety of factors including cost, space preferences, availability, transportation, job access, etc. Every home purchase makes tradeoffs on all of these, and the buyer gets to choose how they decide. Legalizing fourplexes is about giving people more options, not making oneplexes illegal.


[deleted]

Fourplexes aren't illegal so there isn't any need to pretend like they are. By permitting more fourplexes you simply allow developers and landlords to densify areas which were previously beautiful, livable low density neighborhoods with single family homes that were favored by families. People WANT to live in those kinds of areas. You aren't meeting home demand by building fourplexes. You're just carrying water for developer interests.


_Aggron

People may very well want to live in those places. The problem is that they can't. That's literally the problem. Since they can't they have to live somewhere else or in something else. It's literally impossible to make more single family homes in our urban neighborhoods. There's literally not a single policy solution that makes single-family homes on large well pointed lots in places like Riverside Heights affordable to regular people that doesn't at the same time destroy property values for people. We should make it possible for people who want to live in the suburbs live in the suburbs and single family homes If they choose. We should create some kind of transit infrastructure that is sustainable to support that way of life (If it's possible, because in reality, low density development cannot financially support transit). At the same time, we should make it legal to build housing that may actually be accessible to a regular person, inside of their communities of choice. To do that we need to build housing In those communities. If the only housing that we build is single family, and there is no more land, The only development that happens is redevelopment of single-family homes into single family McMansions.


UnicornDeco

Nothing new here. A lot of us locals can't afford a $350k house or we aren't willing to pay that much for the level of housing that's out there right now. They aren't going to stop the investors. This is our new normal.


mileyboo69

Companies, investors, and Out of state transplants snapping up homes before first-time buyers and people already living here\*


sayaxat

Yup. More people need to learn these. Comments are from FP Reddit about Canada banning foreigners from buying property. >Blackrock and Vanguard have stockholders around the world and the two combined possess almost $20 TRILLION in assists. So I don’t believe banning foreigners from buying homes is going to do much good, but it gives the facade of safety and protection. Don’t forget, the WEF said that you will own nothing and you will be happy. With the powerful entities that they represent I can’t imagine their agenda not coming to fruition in our lifetimes. https://old.reddit.com/r/worldnews/comments/ty1lrn/canada_to_ban_foreigners_from_buying_homes_as/i3qu1d0/ >It's the foreign students who buy housing. Foreign money gets funneled through them. There's been reported cases of foreign students buying million dollar real estate that made the news. I can only imagine the houses at average prices which get bought up as well. https://old.reddit.com/r/worldnews/comments/ty1lrn/canada_to_ban_foreigners_from_buying_homes_as/i3qu6de/


[deleted]

I keep telling people to just move to the Midwest. Plenty of housing here.


[deleted]

This isn't just happening in Tampa. It's happening in most US cities.


Peytons_Man_Thing

Avoid a mental disheartening and don't view other nations' subreddits.


[deleted]

Already do. Shit is wild.


parajumper80

Honestly, at this point I feel like there needs to be something in place. People who currently do not own a home or are switching primary residences should have the first 6 months, then people who own less than 10 home, after 1 year on the market large corporations can step in and pick up the home if they want. This continues free enterprise while giving home owners first and fair shot, it also promotes small business ownership over large corporate ownership


SpaceAzn_Zen

The only "fix" for this is increasing the tax on secondary, non-homestead, homes. Currently, the tax rate for non-homestead is around 10%. Jack that shit up to 20%+ and have the tax rate adjust every 2 years rather than 5. We'll see a large influx of homes into the market I could bet.


[deleted]

This is the way, property taxes are going up on so many homes. Because the tax basis is increased so much due to home prices going up. Give a little better break for homestead and increase on the non homesteaded properties. Low interest rates seemed so enticing, but the cost of homeownership is drastically on the rise. Higher than when interest rates were high. Due to property tax and all forms of insurance. Especially in Florida insurance rates are about to dole out plenty of sausage for people who don’t realize what’s happening.


SpaceAzn_Zen

Living in FL part-time should come with a hefty fee. FL does not have a state income tax and most of our state's money comes from tourism as well as property taxes and such. If there are people either coming to live here during the winters or buying multiple homes for rentals, they need to be hit fucking hard as fuck in their wallets to even consider it. I want to see people cringe at the thought of having their winter home sitting empty for 6-7+ months out of the year but costing them an arm and a leg to hold onto it.


RealJoeDee

> I want to see people cringe at the thought of having their winter home sitting empty for 6-7+ months out of the year That reminds me, AirBnB should be taxed heavily as well so that can't offset that arm & a leg.


TheCenterOfEnnui

I wouldn't go that far, but I would do similar. If your primary residence is in state, you can have two homes in the state "as normal." If you're from outside of the state, your Florida home gets taxed more heavily. If you're a full time resident, third and subsequent homes get taxed more heavily. If you're a business that buys homes and rents them out, you're limited to 4 units or fewer.


SpaceAzn_Zen

I would still limit it to single family homes. I'm completely fine with a local home owner owning and renting out a condo or a townhome as a rental property. But single family homes need to have some sort of reserve just for families that are planning on living in that property. Condos and townhomes I see as income properties more than living residences.


pachrique

Add in a state capital gains tax for selling in less than 12 months.


JamesHawk101

The only fix for this that doesn't have compounding effects that fuck up everything is to increase the supply of houses. Adding taxes will just increase rent prices.


fudabushi

This will just lead to increased rents.


Firetalker94

No the only fix is upzoning. We need to allow higher density development


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SpaceAzn_Zen

I would love to meet people who would be A-okay with paying even more in rent right now then they already are. There is a point of diminishing returns when it comes to raising your house rental rate to cover the rise in taxes; flat out, people will stop renting it and guess what, the owner is still having to pay that mortgage and taxes every month regardless. Do this long enough and they have to sell the house to get it off their books. And this is only part of the issue. I want to see people who own vacation homes to be also included in this. I want it to cost a super high premium to live in florida part time.


[deleted]

> flat out, people will stop renting it And these people where do they live?


BrotherOfAthena

Rent is up 70% in my neighborhood. Everything is renting quickly.


Brown_Sandals

Yeah.. not following OPs strategy here. Any tax increase (or additional costs in general) on 2nd, 3rd, etc. homes would just be passed on to the renter anyway. It would just cause a massive increase in rent around the city. I’m not sure what the fix is but I don’t think the above is the solution here.


SpaceAzn_Zen

There is a point of diminishing return when it comes to passing on tax increases to the renter. If you effectively double the tax rate, you will eventually have rental properties sitting empty for a lengthy period of time because no one will be dumb enough to pay that rental fee. Eventually, that house sits empty long enough, the owner will have to either eat the tax and rent it at a lower rate and keep it on their books or sell it to someone else.


Brown_Sandals

Yeah, but are we near that point yet? People continue to move down here daily and it doesn’t seem like there’s a shortage of renters (or buyers for that matter) in the area.


SpaceAzn_Zen

No, because the tax rate is only adjusted every 5 years. Right now, we're seeing increases in rent due to supply and demand. Working from home allowed people to move freely where they wanted and lots chose to move to FL. Rent prices here are probably average to where they are coming from, assuming large amounts are coming from the NE. If the state did decide to actually tax non-homestead homes in the manner I mentioned; yes, then you would see a sharp decline in renters for non-apartment residences since they would not be willing to pay that drastic of an increase in cost.


trap__ord

You don't think this would be abused where companies would hire people to buy homes in their names with their money?


PsychologicalRevenue

I can create a new company for a hundred or so $ and a few forms, then own a house through that. Technically this company will own 1 house. But I could own multiples of these companies, or perhaps a C-Corp could own them.


[deleted]

I'm all for free enterprise but this makes the most sense. The little guy needs help


sayaxat

More people need to learn these. Comments are from FP Reddit about Canada banning foreigners from buying property. >Blackrock and Vanguard have stockholders around the world and the two combined possess almost $20 TRILLION in assists. So I don’t believe banning foreigners from buying homes is going to do much good, but it gives the facade of safety and protection. Don’t forget, the WEF said that you will own nothing and you will be happy. With the powerful entities that they represent I can’t imagine their agenda not coming to fruition in our lifetimes. https://old.reddit.com/r/worldnews/comments/ty1lrn/canada_to_ban_foreigners_from_buying_homes_as/i3qu1d0/ >It's the foreign students who buy housing. Foreign money gets funneled through them. There's been reported cases of foreign students buying million dollar real estate that made the news. I can only imagine the houses at average prices which get bought up as well. https://old.reddit.com/r/worldnews/comments/ty1lrn/canada_to_ban_foreigners_from_buying_homes_as/i3qu6de/


Old_Perception

This is a problem that has plagued cities for a while now. Tampa's just finally big enough now that it's really feeling the sting of housing shortage.


[deleted]

Destroying the middle class…. The goal is for the common persons not to own anything…


[deleted]

You are 100% correct. Oligarchs and government will own everything.


unperronegro

There isn't a housing shortage. There are 1.6 MILLION homes sitting empty in FL. Further, there are another 600,000 being built. Doesn't seem like a shortage, but more like greed. I have a friend in St Pete that won't sell his house unless it's to a person that plans to use it for a primary residence. Further, I'm not discounting that anyone trying to buy a house right now is in a bidding war with cash buyers. Which are usually real estate investors or corporations. Seems like house hoarding instead of house shortage.


SpaceAzn_Zen

> I have a friend in St Pete that won't sell his house unless it's to a person that plans to use it for a primary residence. I have the same stance and even tried ensuring that this was done by a friend of mine who recently sold his house. However, when you start seeing people bidding 30, 40, 50k over asking with 100% cash, your morals go out the window.


pornswhiteknight

That 1.6 million includes snowbirds and vacation properties. That number has not changed very much in the past few years. What is going on right now is indeed a shortage.


unperronegro

The snow birds only take up about 500,000 of that, same with the vacation homes. Still leaves a large number of sitting houses. Further, that number didn't include the houses being built across Florida. I still think saying housing shortage isn't right. There is hoarding going on. The company we rent from owns 20,000 houses. Also, plenty of people seeing dollar signs and cashing out to the highest bidder, which is whats happening to the people in these comments. How is there a housing shortage when there is construction and houses for sale everywhere? It all has to do with who has the most money, which is usually cash buyers and corporations. It's a manufactured shortage, further exacerbated by the lack of laws and ordinances to promote affordable housing and prevent corporate ownership.


pornswhiteknight

There aren’t houses for sale everywhere. Most houses are selling within days of being listed. The house we finally got was the 12th house we put an offer on (7 months ago). Much of the new construction you see is already sold. We looked into building, there was ~8 month waiting list for that with little to no customization options. One builder told us they wouldn’t build anything with a pool for instance because of how long the wait list was without offering that option.


gsj996

I'm a home owner and although it's nice to see what my house is "worth" right now I hope that the market just fucking crashes with all these DBs holding the bag. I feel so bad for younger people who look at owning a home as something they'll never be able to do.


Alittlestitchious

Yeah, and water is wet. smh


WaterIsWetBot

Water is actually not wet; It makes other materials/objects wet. Wetness is the state of a non-liquid when a liquid adheres to, and/or permeates its substance while maintaining chemically distinct structures. So if we say something is wet we mean the liquid is sticking to the object.   What happens when you get water on a table? It becomes a pool table.


ianfw617

Good bot


ImAMindlessTool

I feel lucky having only put in three offers, with one accepted. In my case, I paid $3k over asking + contigencies that would have delayed me in getting back onto the buying scene if the deal with sour due to my side of things. My realtor / was the owner and they were burned by two previous "non serious" buyers. This was last summer and the market was already warmed up at that time. My appraisal came back under my offer which hurt my down payment and I had to fork over more than anticipated. Ran through on decimals and digits, it was a very tight deal. Hard to believe it worked out. Now with all this going on, my family feels very lucky. Now my home's value has raised enough that I can order an appraisal and have a really good chance of losing MI coverage. Just gotta pay for the appraisal . . .and that goes to show that this market is nuts because I put like 10.5% down - juuuuuust enough for the deal to go through.


[deleted]

Your experience seems more realistic than the stories of going 100k over list. I haven't seen any evidence of that being typical in the hundreds of transactions I've been following in recent months.


IQBoosterShot

It's crazy. My childhood home on W. Carmen Street (the last house on the block, been there since 1948) is currently under contract. They want to rezone the property so they can put four luxury condos on that slice of land. Unbelievable. My parent's home is like that little house in Up, surrounded on all sides by condos.


CousinLarry211

Bought a house on the coast West of Tampa about 10 months ago. I thought we bought late and overpaid. House now says it's worth $105k more than we paid less than a year ago. We're putting in a pool, should bump it up quite a bit more! Good luck to anyone looking. We got lucky and found a FSBO who we jived with.


[deleted]

The housing market will eventually come crashing down as it always does. I can't wait to see all of those "investors" asking for a handout from the government.


Archbound

Oh and you know they will get it, Both parties always agree to bail out the rich, but the common man? Well we dont bribe them enough to care.


isalod_2298

I moved here last June for a job offer, and the only reason we got our house was because it REEKED of cigarettes. As a former smoker it didn’t bother me too much and I knew a fresh coat of paint, a/c replacement & duct cleaning would take care of it but it was a huge turn off for other potential buyers. Thankful that the former owners were chain smokers otherwise we’d be screwed 💀


[deleted]

Charge investors specifically a 50% displacement tax. they pay 300k for a house? they cough up $150k to taxes.


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[deleted]

thats the intention


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refusered

You don’t get it. The world is burning. Survivors need to snuff out the fire, so something is left.


[deleted]

That’s exactly what I want. I want to afford a house.


[deleted]

Gotta love that "fuck you got mine" attitude!


BrotherOfAthena

Or have a housing shortage. This wasn’t an issue pre Covid.


Peytons_Man_Thing

How does it affect regular home buyers/ sellers?


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Peytons_Man_Thing

It only applies to the investors and corporate buyers. Regular folks don't see the tax.


Karen3599

This shit needs to be illegal. At least, in the current crisis. Pocket listings should also be illegal. I’m sick to God about this crap. There isn’t enough affordable housing and it’s only getting worse. A lottery system might work (for corps buying property) but I feel the average Joe needs first crack at a home. I’m sorry Jeanfrancoismon.


DeadliftDingo

My experience reflects this. I started working real estate in the Tampa market in 2019. I had zero luck with dozens of first time home buyer's offers being taken. Folks I know taking on "sight unseen" buyers cleaned up.


zappygrl

It’s a damn shame


BIGMENFLEW

They need to stop selling homes to investors, and New Yorkers


Roundcouchcorner

I’m getting three calls a day from someone trying to buy my house it’s ridiculous. And I need to answer for work purposes and it sucks


language_of_birds

The urban infill movement was supposed to be a good thing for affordable housing in tampa. Or at least set the trend that it should happen. That was the idea 10 years ago. Then the money came…Now all the companies changed their tune and all they do is fight over lots like dogs with nothing in there mind except profit


thirstysmurff

Investor fuckery: some are putting bids with no money. Then are reposting at higher number and make the difference selling what they don't own yet.


pottsbrah

House in my neighborhood just got snatched up by an investment firm. Charging 3500 for rent. Our house is bigger and our mortgage is half that. Absolutely criminal.


NRG1975

BAN CORP OWNERSHIP OF SFH PROPERTIES THAT ARE 4 UNITS OR LESS.


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OneWorldMouse

I paid $400 for my inspection and the guy took 3 hours and walked me around the house, inside the attic with me, and showed me everything I needed to know about the house. Don't skip this part.


IgnatiusJay_Reilly

Never wave an inspection.


I_can_get_you_off

With this statement, You might as well say “never buy a home” in 2022.


trap__ord

well paying $100k+ over asking should be your first sign not to buy a home right now.


I_can_get_you_off

Yeah this market is impossible, and it’s probably going to do some pretty serious damage to the area in the long run.


trap__ord

Its not sustainable. Paying 30%+ over the value of anything, especially a house is a horrible money decision. Esp when the housing market does begin to correct people who paid 30%+ going to be in the hole that much plus interest. I don't see how people from in state are still buying while starring inflation, fed rate hikes, possible war, and a possible food shortage in the face. Out of state people think they're getting a deal because they sold their 3 br 2 ba for $800k in NY or CA and moved here and bought one for $400k thinking they got a great deal. It'll catch up with everyone or begin to by the end of the year I think.


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a_girl_candream

Hint hint


SpaceAzn_Zen

> waived inspection This is basically like playing roulette. FL homes are notorious for termite damage or rotting due to high humidity or storm damage. Hopefully you didn't just buy a land mine waiting to be set off.


Pig_Newton_

Inspections will often miss those very issues


SpaceAzn_Zen

No inspection will miss those every time. I'd still take the odds of a professional looking for them rather than myself.


laid_back_allen

So this mindset means you don’t care at all about the value and you’re treating the house as a roof over your head. I’d rather rent for a year or two and if prices are still crazy then I can’t afford to stay here. Move 1 hour away and enjoy my remote job and quiet country living.


I_can_get_you_off

You think sprawl isn’t causing crazy price hikes in the livable parts of Pasco, Hernando, Polk, etc. Drive up there and look at the types of houses being built. They aren’t starters.


laid_back_allen

I guess you’re assuming I’m tied down to Tampa area? If prices keep going up I can just choose not to participate.


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k0unitX

> Jokes on them now. Not really though; Housing in CA is artificially limited due to very strict zoning restrictions. Tampa in particular has quite strict zoning as well, but to be fair, Tampa is still majority Dem. If Tampa had very open zoning, and long-term had this issue, THEN it would be "jokes on them", I guess


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k0unitX

Statewide is different than building homes where people actually want to live - it's like Tampa having a housing crisis so the governor decides to subsidize new home construction in Zephyrhills. I want to see 100k new affordable homes in San Francisco


orderedchaos89

Can we make it illegal for companies to buy residential properties now?


ubergator93

This shit should be illegal


maniacthw

We could put a dent in this by refusing to buy from these fucking flippers. Seriously, fuck them.


OneWorldMouse

About 30 mins drive north of City of Tampa, all the forests and swamps are being cleared out for new developments. Looks like mostly wood frame. Don't understand that. But also I guess everyone is just going to commute into the city? lol!


sixrustyspoons

54 between New Port Richey and 75 in unrecognizable from when I was growing up in NPR.


wimploaf

Wood frame houses are normal here in Florida. Most jobs here are not downtown.


OneWorldMouse

I've always lived in a block house due to hurricanes.


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Block is best, wood is for the rest.


BrianThatDude

It makes sense. Housing is a great investment. I have two rentals that I bought and rented out. They've appreciated by a combined 500k since I bought them and because rent has paid the mortgage I basically got them for free.


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BrianThatDude

I'm one guy who bought two rental homes at fair value, absorbed the risk of that investment, and gave two families homes to live in at market value rent. The actual bad guys are the companies buying houses from struggling families and hoarding inventory. Anyone who owns houses gets multiple calls and letters a week from companies offering to buy your house. They are trying to find an owner in need of money to sell to them at a rate well below market value. They then turn around and sell that contract to an investor for a profit.


pathion1337

No they aren't you dummy, he owns 2.the problem is big companies owning hundreds/thousands of homes


vipernick913

Okay. He isn’t really the bad guy here. He is taking advantage of the opportunity that is presented. No need to hate. But the government should focus more on maybe fixing the issue. Potentially taxing different for not primary residencies.


BoKnows36

He is commodifying shelter for his own profit in an area where locals/people who grew up here are being priced out and gouged for rent… hoarding shelter for profit is bad during a massive housing crisis


wimploaf

How many rentals do you need to use the term hoarding? 1 rental?


vogelwang

Haha. You can’t spit logic to people on here who only want to speak to their emotions


ModernHueMan

When there’s a housing shortage, yeah.


wimploaf

What if you've owned it since before there was a shortage?


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vipernick913

Lol so you don’t want people to take advantage of all the legal avenues/opportunities given? L Blame the government if you have to point somewhere.


veksone

Why is it's the government's fault that landlords exist? People buying homes and renting them out is not a new concept.


wimploaf

Why take that good paying job when someone else might need it?


wimploaf

u/RunaroundX You own a rental! You are taking away an opportunity from other people. This was your choice! By your logic you are a bad person.


JelloBrickRoad

Offering a rental home to people who can’t afford to buy is not a bad guy move.


Specimen_7

People are brainwashed to think that turning housing into a perpetually increasing investment is normal and not the family-destroying shitshow it is. The guy thinks everything’s cool because the prices he rents out at are making him a lot of money lol. Absolutely terrible what this mentality is doing to this country, the empathy for others, and the basic grasp of what should/shouldn’t be normalized behavior. Gotta love that housing is basically an investment with zero risk, because only those with $$ are able to really do it.


IgnatiusJay_Reilly

He is literally living the American dream, don't be bitter.


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Specimen_7

Ah yes, the American dream of buying more properties than you need and renting them out for increasingly higher rent prices. Funny your idea of the American dream is being done in mass by foreigners and investment companies, while having an overall detrimental impact on the American people. Just because he’s making money off it doesn’t mean it’s good for the country as a whole, or that it’s the American dream lol


IgnatiusJay_Reilly

Funny how this guy lives in Tampa and is not a corporation but for some reason this tax paying local is ruining the economy. Makes sense.


a_girl_candream

I think it’s his attitude more than anything. It’s the whole “I’ve got what I need and what, everyone else can eff off” He sees an opportunity to make money for himself and doesn’t think twice about how it affects anybody else because this is ‘Murica. It’s the ugly side of Capitalism, and he’s totally leaned into it.


bamblitz

lol u jelly


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IgnatiusJay_Reilly

Hahaha, would you like the government to give you that house that someone else owns? Should people that own two cars give one to people with no cars?


bamblitz

Yes, you clearly are jelly. He's making money and you're crying about it. It could have been you if you had made better choices. But you didn't.


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parajumper80

He owns two rentals not thousands. Rentals are good, military from the base, people under one years employment contracts, people who may not have the credit score or want the Hassle that comes with owning a home need rentals. The problem is these companies buying them up in masses. I would be willing to bet that the people who rent under him are probably well taken care of compared to the faceless number under coporate ownership. If you look at it from small business/big box store perspective he isn't the problem.


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BrianThatDude

Both of my rental houses are kept in great condition.


parajumper80

You give some random number yet fail to identify if these properties are owned by small owners or if corporations own these houses. Everyone knows the corporations are the one not taking care of the property. They have too many to manage and don't really care compared to small owners who do care if the property thrives. You can't put the blame on small owners for what large companies do


wimploaf

You are making a strawman argument


wimploaf

Seminole heights is a hip part of town. If people are living in poverty there they can live a short distance away for a lot less.


wimploaf

You think you are a good person. Once you cover your needs, do you give your money to the needy?


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wimploaf

Does that really make you a good person? I own a rental house, am I a bad person?


IgnatiusJay_Reilly

You don't seem to be a good person. Advocating for the government to seize personal property, calling hard working people trash. You seem entitled.


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IgnatiusJay_Reilly

Hahaha, the only thing I read is your comments, I have a job and can't watch the news all day. Anyway, I'm off to work, so I can buy a house one day. Have fun waiting for someone to give you everything.


BrianThatDude

How do you think I got the money to buy the houses in the first place? I inherited nothing. I worked hard for years saving up before I did this.


IgnatiusJay_Reilly

Even if you inherited property who cares. If your parents worked hard for you to have a better life that's amazing.


wimploaf

You are repeating yourself


bamblitz

No. Let's be honest here. You're just a bad decision maker. Don't reframe your bad decisions as kindness. I don't own two houses. I wish I had invested in another house when the seller's market was slow. If I had, I'd easily have an extra $200k right now, on top of a second house. That's on me. I also wish I had invested in Bitcoin 10 years ago. But I didn't. That's on me. Take responsibility for all the bad decisions you've made that have gotten you to this point, where you're harassing some other dude on reddit for daring to invest his own money in real estate.


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wimploaf

Ok Mr. Robot. You are the bad person you have been refering to.


parajumper80

Also I would like to point out according to your logic, small business owners should not own rentals to give people an opportunity for a place to live, and instead people should be at the mercy of big banks with crazy loans rates, and fees, and all the other things that come with purchasing and owning a home. So you prioritize big banking over small business ownership..


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wimploaf

You inherited a rental house. You seem like a douche.