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Posted on 6/22/23 at 2:49 pm to PeteRose
I put in offers on 3 houses recently, all offers over asking price.
All 3 got outbid by another paying cash and waiving inspection.
As a first time home buyer, it was a gut punch knowing that I really couldn’t compete with that buying power whatsoever.
All 3 got outbid by another paying cash and waiving inspection.
As a first time home buyer, it was a gut punch knowing that I really couldn’t compete with that buying power whatsoever.
Posted on 6/22/23 at 2:53 pm to PeteRose
Create a small corporation. Buy real estate. Profit immediately. Savvy shyt
Posted on 6/22/23 at 2:56 pm to PeteRose
quote:
How can average American compete with this?
We can’t. When this sort of thing is backed by massive private equity money no one can compete. I love me some capitalism as much as the next baw but the government really should step in and do something about this or else owning a home is going to be only for the top 10% of earners in the near future.
Posted on 6/22/23 at 2:58 pm to cwil177
quote:
owning a home is going to be only for the top 10% of earners in the near future
By design
Posted on 6/22/23 at 3:01 pm to SlowFlowPro
quote:
Actually the best way to win this is at the local level via zoning.
Posted on 6/22/23 at 3:02 pm to DownshiftAndFloorIt
BREIT
This strategy is a rocket. Blackstone is a bunch of sharks that do their homework and then exert their will using a giant hammer made out of money. Money keeps pouring into this strategy so the trend being discussed will only continue and increase.
This strategy is a rocket. Blackstone is a bunch of sharks that do their homework and then exert their will using a giant hammer made out of money. Money keeps pouring into this strategy so the trend being discussed will only continue and increase.
Posted on 6/22/23 at 3:02 pm to BayouFann
These aren't small corps or LLC, these are major companies. I moved to Houston last year, originally was going to buy then ended up renting.
I know of two realtors who now work strictly with major companies buying houses. All cash all over asking. They are given a map with % over asking they can go up to depending on neighborhood or area.
The goal for the "Team" that year was to make 1200 purchases, this is just in the greater Houston area.
I know of two realtors who now work strictly with major companies buying houses. All cash all over asking. They are given a map with % over asking they can go up to depending on neighborhood or area.
The goal for the "Team" that year was to make 1200 purchases, this is just in the greater Houston area.
Posted on 6/22/23 at 3:11 pm to GREENHEAD22
Real estate has always been the go-to investment strategy during inflation.
And with the commercial market gone to shite because of Covid, that leaves residential.
And with the commercial market gone to shite because of Covid, that leaves residential.
This post was edited on 6/22/23 at 3:12 pm
Posted on 6/22/23 at 3:16 pm to Centinel
quote:
Real estate has always been the go-to investment strategy during inflation.
And with the commercial market gone to shite because of Covid, that leaves residential.
I can tell you this investment thesis was formed well before the coronavirus. The longterm demographic and economic trends are very concerning. The $$$ isnt planning on private home ownership to be a common occurrence in the future.
Posted on 6/22/23 at 3:21 pm to GREENHEAD22
Where is Teddy Roosevelt when you need him?
Posted on 6/22/23 at 3:22 pm to Monahans
Your Blackstone idea is on target and there are probably other large money firms doing some of the same stuff. Blackstone was investigated after the 2008 financial crisis for doing the same thing and they’ve figured out lots of ways to pay off and influence investigators over the past 15 years.
Take a look at their buyout, purchase and merger history and keep an eye on them, they are buying and investing in all kinds of markets that affect families and the average citizen which could easily lend itself to manipulation and personal identity information control.
They are dabbling strongly in the renewable energy markets and just made another billion dollar investment in Invenergy, one of the largest developers of wind and solar.
From the power you use to the homes you try to buy to the phone service you use to the DNA test you take to the restaurant you eat at to the motel you stayed at, Blackstone probably owns a part of it, Vanguard has a 45-50 billion in Blackstone, so they’re all one team staying several steps ahead of the working class and that’s without even mentioning Blackrock…
Take a look at their buyout, purchase and merger history and keep an eye on them, they are buying and investing in all kinds of markets that affect families and the average citizen which could easily lend itself to manipulation and personal identity information control.
They are dabbling strongly in the renewable energy markets and just made another billion dollar investment in Invenergy, one of the largest developers of wind and solar.
From the power you use to the homes you try to buy to the phone service you use to the DNA test you take to the restaurant you eat at to the motel you stayed at, Blackstone probably owns a part of it, Vanguard has a 45-50 billion in Blackstone, so they’re all one team staying several steps ahead of the working class and that’s without even mentioning Blackrock…
Posted on 6/22/23 at 3:27 pm to Monahans
The $$$ plans on owning all your stuff and renting it out to you. No more private ownership of your vehicle, house, or business. No more private ownership of farm and ranch land and minerals.
They arent going to take this stuff from you. They're going to buy it from you for a price you cant turn down. And they wont be selling it back to private owners for a quick profit. The marketplace as we know it will cease to exist. They will then make all our decisions for us. They know the core mass of humans will trade their freedom for no longer having to take responsibility for their wellbeing. They will keep humanity high on drugs and plugged into the virtual world they have designed for us, and what we refer to as "happiness" will be the parts of the curated virtual reality that are the most addicting to us.
They arent going to take this stuff from you. They're going to buy it from you for a price you cant turn down. And they wont be selling it back to private owners for a quick profit. The marketplace as we know it will cease to exist. They will then make all our decisions for us. They know the core mass of humans will trade their freedom for no longer having to take responsibility for their wellbeing. They will keep humanity high on drugs and plugged into the virtual world they have designed for us, and what we refer to as "happiness" will be the parts of the curated virtual reality that are the most addicting to us.
Posted on 6/22/23 at 3:31 pm to 14&Counting
quote:
I’m free market capitalist but I have a problem with this. I just don’t think it’s good for communities or the country
Yeah so am I which is why we should never have federal entities buying the debt of these corporations so they can raise ridiculous amounts of cash at below market rates. We aren’t fixing the first problem so it’s not a free market is it?
Posted on 6/22/23 at 3:43 pm to PeteRose
I’d like a breakdown of how many of these purchases were by companies like Orchard. You sell your house to orchard first so that you have the equity to put into the down payment on a new house. Once the new house closes, orchard sells your old house to a third party buyer.
Not endorsing that strategy but it’s becoming very common. Just looking at the property sales records it seems like orchard was the buyer but really they were more of a holding agent.
Not endorsing that strategy but it’s becoming very common. Just looking at the property sales records it seems like orchard was the buyer but really they were more of a holding agent.
Posted on 6/22/23 at 4:02 pm to BlackCoffeeKid
quote:
I put in offers on 3 houses recently, all offers over asking price.
All 3 got outbid by another paying cash and waiving inspection.
As a first time home buyer, it was a gut punch knowing that I really couldn’t compete with that buying power whatsoever.
I just went through this. It sucks, and it very well may continue to happen. I'm just a guy on a message board, but if you keep going you'll find what you're looking for. You are valid in your frustrations, but damn it feels good to finally own a home.
Posted on 6/22/23 at 4:05 pm to wutangfinancial
quote:
we should never have federal entities buying the debt of these corporations so they can raise ridiculous amounts of cash
Yeah we don't have a free market. Look at the federal reserve balance sheet. Trillions of dollars added the past few years, one little hiccup earlier this year from banks making bad investments, and the fr injects more money.
https://fred.stlouisfed.org/series/WALCL
This post was edited on 6/23/23 at 1:03 pm
Posted on 6/22/23 at 4:17 pm to PeteRose
Well hopefully wheelchair will do something about it but I doubt it. He normally waits til DeSantis does it in Florida. 
Posted on 6/22/23 at 4:18 pm to PeteRose
Included in that number are also large corporations moving to Texas and purchasing executive homes they will use during relocations.
Posted on 6/22/23 at 4:27 pm to PeteRose
When they need the cash it will hit the market in chunks. And most of those are going rental in the meantime.
I would try to avoid areas where corporations are buying a lot of homes for rental housing. Less concerned if they are buying to improve and flip.
That might mean going into more risky, gentrifying areas. Or another metro area entirely.
I would try to avoid areas where corporations are buying a lot of homes for rental housing. Less concerned if they are buying to improve and flip.
That might mean going into more risky, gentrifying areas. Or another metro area entirely.
This post was edited on 6/22/23 at 4:30 pm
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