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Started By
Message
re: What should be done about investors buying up homes?
Posted on 5/20/24 at 7:08 pm to ChexMix
Posted on 5/20/24 at 7:08 pm to ChexMix
quote:
Now if you want to limit these investors, change the tax code to disincentivize owning more than X number of homes or limit the number of homes you can claim rental income from to X. This would put a cap on it
An LLC created for each home would be the end of this idea.
2
Posted on 5/20/24 at 7:17 pm to Sput
They could add something regarding constructive ownership that would take care of that
Posted on 5/20/24 at 7:20 pm to TigerDoug
How would the IRS determine who owns what LLC?
Posted on 5/20/24 at 7:39 pm to MadQfrog
They are trying to buy farms where I live. I have started buying up the nearby land that is for sale because the so-called investors would try to develop it. Living near construction is not how I want to spend my retirement years.
Posted on 5/20/24 at 9:09 pm to TigerDoug
quote:Wow! In an MSA of over 2 million people, we've declared several thousand starts to PROVE THAT BIG COMPANIES ARE RUINING EVERYTHING!!!!!!!!
Single Family Building Units
2024 thru march - 1,036
2023 Full Year - 3947
2022 Full Year - 4885
Multi Family Units thru March 2024 - 269
way more than the 250 units you mouthed off at. Damn you are one dumb SOB.
I'd be surprised if the KC MSA were short less than 100K homes.
Very simply: the problem (in KC and nationwide) is a physical shortage - of both SFH AND MF units.
GTFO with some stupid story about a local builder doing a build-to-rent deal. There are plenty of those all around the country - and they are a tiny drop in the bucket. (It's also unclear why we're pissed at them for that but NOT for MF).
Posted on 5/20/24 at 9:10 pm to deeprig9
quote:Well, that's certainly an extreme alternative. But the point remains: we are short units precisely because of the type of NIMBYism you quoted.
The alternative being "we don't need zoning boards, everybody do whatever"
Posted on 5/20/24 at 10:17 pm to Big Scrub TX
Short in kc?
Clueless frick aren't you.
Where did I say they are running everything?
Jesus, you're dumb.
Clueless frick aren't you.
Where did I say they are running everything?
Jesus, you're dumb.
This post was edited on 5/20/24 at 10:19 pm
Posted on 5/20/24 at 10:31 pm to SlowFlowPro
quote:
How would the IRS determine who owns what LLC?
Good question. There is a new filing requirement called the Corporate Transparency Act which became effective 1-1-24. The CTA applies to a lot of companies including LLCs ( even single member LLCs).
Under the CTA all businesses that fall under the definition of a reporting company must file a beneficial ownership information report (BOIR) with the Financial Crimes Enforcement Network (FinCEN). There are exceptions of course. Too much to delve into this post.
Posted on 5/20/24 at 11:25 pm to GeauxtigersMs36
"You will own nothing a be happy."
Posted on 5/21/24 at 7:14 pm to Sput
quote:No it wouldnt. Ever heard of a social security number? Those LLC you are clamoring about are just pass through entities. You still have to file the K-1s or file the schedule Es and the income would be classified as rental.
An LLC created for each home would be the end of this idea.
quote:So dumb
Sput
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