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LSUAngelHere1
LSU Fan
Watson
Member since Jan 2018
1156 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

It irritates me that I have to agree with you. And it's highly amusing to watch people high five each other about their amazing 401k, 403b, IRA, and pension returns while simultaneously bitching about the practices of the corporations that are providing their returns. Most americans: I DEMAND AMAZING 401K PROFITS!!! Same americans: Y U DO THIS CORPORATE AMERICA!!!

Not really, they’ve lost the pensions of millions but the govt keeps bailing them out. When the govt falls and no longer prints endless money then they’ll wish they had paid attn.

They’re the same ones responsible for making 2008 crash worse. They also hurt and destroy many good businesses and retail investors by shorting the share price into the ground.
This post was edited on 6/10 at 6:29 pm


hubreb
Ole Miss Fan
Member since Nov 2008
1261 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

All of his "owners" of the loans are investors. He's not collecting for banks any longer, it's companies like this


If that is recent, it is because of the Covid eviction moratorium


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Bass Tiger
USA Fan
Member since Oct 2014
25989 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

One buddy (multi millionaire) was part of a group that bought several neighborhoods after the financial crisis...they probably owned 5000+ homes, another buddy and his group own 500+ homes in Memphis, and lastly another couple buddies buy around 10 homes a year, once all are in good shape and occupied they flip them to a group out of London that buys tons of US homes and builds SIVs specifically for sovereign funds


The 2008/2009 financial meltdown morphed into an elaborate scam. Huge banks wanted to clear their books of MBS and other underwater real estate investments so they worked with the Central banks/Fed. When millions of people walked away from their homes the institutional real estate investors got cheap money to buy distressed properties at a 40-60% discount. You gotta love crony capitalism.


Centinel
Alabama Fan
South Carolina
Member since Sep 2016
34165 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

Not really, they’ve lost the pensions of millions but the govt keeps bailing them out. When the govt falls and no longer prints endless money then they’ll wish they had paid attn.

They’re the same ones responsible for making 2008 crash worse. They also hurt and destroy many good businesses and retail investors by shorting the share price into the ground.




Your post in no way, shape or form has anything to do with what I posted.

Based on your other posts in this thread, you might want to take the tinfoil off.



hubreb
Ole Miss Fan
Member since Nov 2008
1261 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

When millions of people walked away from their homes the institutional real estate investors got cheap money to buy distressed properties at a 40-60% discount.


You are close, but your time line is off..."institution's" didn't come in to buy the distressed properties..it was smaller groups of retail investors, who then flipped to Reits 5 years later...almost everyone involved in SFH big time went out of business, the Private Equity that bought the failing banks did extremely well
This post was edited on 6/10 at 6:44 pm


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10
Big Scrub TX
LSU Fan
Austin
Member since Dec 2013
24990 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

My husband does Mortgage Collections/loss mitigation for a loan servicing company. All of his "owners" of the loans are investors. He's not collecting for banks any longer, it's companies like this.

He's been working at this company for 3 years, so this is not new.
It's literally been going on en masse since the financial crisis of 08/09. Several companies have even gone public with their portfolios in the past 10 years. All of this handwringing is nothing new. The only thing that appears to have changed around here is that Biden is president, so therefore Wall Street is evil again.

But seriously - rental real estate for institutional investors is supposed to be news? The OP is a drama queen.


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33
SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
53187 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

The 2008/2009 financial meltdown morphed into an elaborate scam. Huge banks wanted to clear their books of MBS and other underwater real estate investments so they worked with the Central banks/Fed. When millions of people walked away from their homes the institutional real estate investors got cheap money to buy distressed properties at a 40-60% discount. You gotta love crony capitalism.





Anyone with cash could do this. Also plenty of ppl bought in very low and have tripled their equity since


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02
USMEagles
Southern Miss Fan
Member since Jan 2018
6824 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

Fair enough. It might be valid to question the use of electricity to mine Bitcoins, but I would suggest that her rush to suggest a centralized digital currency to replace bitcoin betrays her agenda and might reveal that she is more concerned with power consolidation than with energy conservation.


Yeah, I found that part about a central bank pretty sinister. It also misses the point of Bitcoin pretty profoundly


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10
MikeD
LSU Fan
Baton Rouge
Member since Jan 2004
4649 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

the bottom line profit this quarter is a stupid way to run the world.


This is the root of a lot of our society’s problems with regards to corporate America.


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22
Buzzed
Alabama Fan
#1 NIC
Member since Nov 2020
450 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

I am in the process of selling my home to Open Door as we speak. I had my final inspection today. We have an initial offer and will get a final offer within a week.

They are offering a frick ton more than I ever thought I would get for my house. Could have a check in as little as 13 days.



We’re you already planning on selling? Why’d you choose them?


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RummelTiger
LSU Fan
Over here. No, OVER HERE!
Member since Aug 2004
83273 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Do you have their number?

Because if they’re paying 50% above ask, then they can come buy mine.


Paul Allen
Notre Dame Fan
Montauk, NY
Member since Nov 2007
67774 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Just sold in Dripping for 40% above ask...


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03
LanierSpots
Auburn Fan
Senior Sidewalk Fan
Member since Sep 2010
51501 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

We’re you already planning on selling? Why’d you choose them?


yes, we were getting ready to sell and had already started talking to a agent. I have a friend who is flipping homes and told me about them. I had actually never heard of them. Very simple process and no showing of your house to people. I work from my house so having to leave everytime someone came to show it would have been a hassle.


Go online, get a initial offer, do a zoon walk through on your phone, they send someone out to look at the exterior and then a final offer.

Worked great and we got more than the agent was even going to list our home for. Plus we negotiated a 90 day closing so we had more time to get our shite together.


Very happy with the process..


USMEagles
Southern Miss Fan
Member since Jan 2018
6824 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

I work from my house so having to leave everytime someone came to show it would have been a hassle.


Is this a new phenomenon? Maybe I'm remembering wrong, but I think that when my parents were looking at houses the seller was often present during the showing.

I don't see what's wrong with this. If I were trying to sell my house, I wouldn't have a problem with just being quiet and staying out of the buyer's / agent's way for a half hour or so while they walked through my house.

Maybe people are just a lot more asocial now?


stout
Arizona Fan
Smoking Crack with Hunter Biden
Member since Sep 2006
147643 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

I think that when my parents were looking at houses the seller was often present during the showing.



Statistics show that a buyer is less likely to give your house a thorough walk-through when the seller is present during a showing which leads to them being less likely to make an offer.


USMEagles
Southern Miss Fan
Member since Jan 2018
6824 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

Statistics show that a buyer is less likely to give your house a thorough walk-through when the seller is present during a showing which leads to them being less likely to make an offer.


I don't doubt it, but I don't run the numbers on every stupid little decision I face in life.


LSUAngelHere1
LSU Fan
Watson
Member since Jan 2018
1156 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

It irritates me that I have to agree with you. And it's highly amusing to watch people high five each other about their amazing 401k, 403b, IRA, and pension returns while simultaneously bitching about the practices of the corporations that are providing their returns. Most americans: I DEMAND AMAZING 401K PROFITS!!! Same americans: Y U DO THIS CORPORATE AMERICA!!!

Did you forget what you said? My reply was directly in response to what you said.

quote:

Not really, they’ve lost the pensions of millions but the govt keeps bailing them out. When the govt falls and no longer prints endless money then they’ll wish they had paid attn. They’re the same ones responsible for making 2008 crash worse. They also hurt and destroy many good businesses and retail investors by shorting the share price into the ground.




Centinel
Alabama Fan
South Carolina
Member since Sep 2016
34165 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
And it has nothing to do with what I said. I'm not talking about BlackRocks's specific practices. I'm talking about how your average idiot demands amazing investment returns while also bitching about what those corporations do to provide those returns.



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23
Obtuse1
Wofford Fan
Westside Bodymore Yo
Member since Sep 2016
12664 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

Statistics show that a buyer is less likely to give your house a thorough walk-through when the seller is present during a showing which leads to them being less likely to make an offer.


The seller and buyer meeting is also on occasion a deal breaker. People who would never think about it become oddly possessive of a house they are trying to sell when they don't like the potential buyer for some reason and buyers don't like to enrich sellers that they don't like.


Sao
SMU Fan
East Texas Piney Woods
Member since Jun 2009
50586 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
quote:

don't doubt it, but I don't run the numbers on every stupid little decision I face in life.


Agents do which is why it's suggested during showings. It's a singular decision. Also, I believe there is some psychology involved. Usually, a stranger isn't going to feel like they can comfortably criticize, comment out loud etc or take a full gander around knowing a seller is close by.


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