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McNocheFigured as much
Dylan_You can’t really blame people who flip for real estate prices, sorry- but nice try.
WillgumIt's understandable to say that about flippers, because at first look it seems to be a product of gentrification and greed. But flipping is a direct symptom of the changing housing market, and is inevitable in a free market. No point in getting salty about it.
One beneficial way to capitalize is on properties where the home is undervalued in relation to the land it sits on. By bringing the home up to free market value, it's satisfying the point at which supply = demand.
Just one of those things. Doesn't make Brenone a bad guy in my opinion, he's playing the game.
Dylan_You can’t really blame people who flip for real estate prices, sorry- but nice try.
VinnieFWhen economists say flipping is an even larger driver of housing prices in Toronto than foreign buyers: https://www.cbc.ca/news/canada/toronto/programs/metromorning/house-flipping-tax-foreign-buyers-toronto-housing-market-1.4032393
Yea, you're wrong.
Dylan_Okay, you’ve provided an article on one area and it happens to be in Canada. Is that the answer? More taxes? Lol. Housing will get even more expensive due to upfront costs from the investor. But in Canadaland taxing seems to be the solution to everything. I already pay property tax, school tax, mortgage tax on acquisition and capital gains. I can’t sell a property for more than it is worth. Supply and demand my guy. There’s not much inventory (at least in my market) and the demand is there.
Just because a few economists say something doesn’t make it true.. where is their data? I can show you articles that agree with my point of view as well.
Long story short, you called people who make a living off flipping houses “losers”. How are we losers by putting our own capital into our communities and keeping money local? Most first time home buyers want a turn key property and I provide that to them. I don’t cut corners, I am ethical and I provide a great product.
If I buy a foreclosed home (which is on the city/towns tax roll) for say 40k and I put 50k of my own money into it and happen to sell it for 140k(due to the availble comps of what property’s were sold for in my specific area) minus fees, holding costs, commissions, capital gains and taxes. Why am I a bad guy? I just improved your neighborhood and local property values.
Something is only worth what someone else will pay.
You need to stop watching hgtv because you’re delusional if you think people are “inflating prices” by 100’s of thousands of dollars. Hgtv isn’t real life and neither are the profits seems on tv.
Go get an fha loan at 3.5% down and buy your house (which is the worst “investment” one can make. Single family homes aren’t investment they’re liabilites FYI). And move on and quit ragging on people making a living off hard work and uncertainty of their next pay day.
To be honest you sound entitled with the name calling and all you’ve done is contributed nothing other than bash the ones out there making legal money and blaming it on others as to why you can’t afford a house. The market is the market and you can’t put it on investors.
Oh, alluding to your comment about subdividing land... that’s a different ball game and if a farmer can buy land before the price is “inflated” why didn’t they buy it in the first place before it was subdivided and was being sold for a reasonable price?
Dylan_Okay, you’ve provided an article on one area and it happens to be in Canada. Is that the answer? More taxes? Lol. Housing will get even more expensive due to upfront costs from the investor. But in Canadaland taxing seems to be the solution to everything. I already pay property tax, school tax, mortgage tax on acquisition and capital gains. I can’t sell a property for more than it is worth. Supply and demand my guy. There’s not much inventory (at least in my market) and the demand is there.
Just because a few economists say something doesn’t make it true.. where is their data? I can show you articles that agree with my point of view as well.
Long story short, you called people who make a living off flipping houses “losers”. How are we losers by putting our own capital into our communities and keeping money local? Most first time home buyers want a turn key property and I provide that to them. I don’t cut corners, I am ethical and I provide a great product.
If I buy a foreclosed home (which is on the city/towns tax roll) for say 40k and I put 50k of my own money into it and happen to sell it for 140k(due to the availble comps of what property’s were sold for in my specific area) minus fees, holding costs, commissions, capital gains and taxes. Why am I a bad guy? I just improved your neighborhood and local property values.
Something is only worth what someone else will pay.
You need to stop watching hgtv because you’re delusional if you think people are “inflating prices” by 100’s of thousands of dollars. Hgtv isn’t real life and neither are the profits seems on tv.
Go get an fha loan at 3.5% down and buy your house (which is the worst “investment” one can make. Single family homes aren’t investment they’re liabilites FYI). And move on and quit ragging on people making a living off hard work and uncertainty of their next pay day.
To be honest you sound entitled with the name calling and all you’ve done is contributed nothing other than bash the ones out there making legal money and blaming it on others as to why you can’t afford a house. The market is the market and you can’t put it on investors.
Oh, alluding to your comment about subdividing land... that’s a different ball game and if a farmer can buy land before the price is “inflated” why didn’t they buy it in the first place before it was subdivided and was being sold for a reasonable price?
VinnieF'the market is the market and you can't blame it on investors'. Say that to people trying to buy a home in Vancouver where even with a 20% down payment you'd need a job that pays 1/4 million + a year just to get approved for the mortgage for even the cheapest detached house. Investors have absolutely been shown as the #1 reason for this. Some research helps.
Also where am I name calling?
Dylan_“Some research helps” guy, I’d say my portfolio speaks for itself. People want to live in Vancouver- supply and demand not enough inventory. It’s not investors fault for the high cost of living. I live in New York where the prices are insane and so are the taxes- people want to live here. Why do you think rents are so high? Supply and demand along with increasing costs to owners.
PeppermillRenoYou lower the affordable supply. Even if you eventually add to the supply for people making mid six figures.
The cost of living would be a lot lower if there weren’t so many vultures in housing.
PeppermillRenoYou lower the affordable supply. Even if you eventually add to the supply for people making mid six figures.
The cost of living would be a lot lower if there weren’t so many vultures in housing.
everlastIt’s the fucking Chinese bro, they destroyed Vancouver.
Swervy.Barley scrapping by
VinnieFWhen economists say flipping is an even larger driver of housing prices in Toronto than foreign buyers: https://www.cbc.ca/news/canada/toronto/programs/metromorning/house-flipping-tax-foreign-buyers-toronto-housing-market-1.4032393
Yea, you're wrong.
WillgumThe key point to the article you picked is the location, ( Toronto) and the forces that are causing prices to rise: speculation. In the presence of speculation, flipping ( and literally any real estate activity) will cause prices to rise. In the absence of speculation, like in Dylan's case, house flipping does not cause prices to rise above fair market value. Find me a source that says otherwise and I'll admit I'm wrong.
You also misstated the point of that article. It's not saying flipping causes prices to rise more than foreign buyers when adjusted for respective volume. It's saying that a tax on flipping will be more effective than a tax on foreign buyers to cool the market.
Dylan_Thank you, points I was trying to allude to in my previous posts. I don't feel like arguing on an internet forum over real estate with people who literally have no knowledge or first hand experience on the subject. as you said- speculation and one "case study".
WillgumYeah I mean I don't blame people for having misconstrued ideas about complex topics when they don't have much experience. It's perfectly normal. I'm sure my own beliefs about, say, foreign aid policy or blue collar unions are flawed because I'm not familiar with those areas. Same thing happens in economics and RE. The difference with RE is that the average person is always affected because everyone needs a place to live.
Also going back to our old exchange, I'll definitely hit you up for anything RE related especially if I move back to the 518!
1337I'm a photographer and I get to shoot skiing all winter long.
I also dabble with video producing, directing, and marketing consulting.
And guess what? It all started because of NS. Wouldn't be where I am today without this website.
ButteredToast.Any tips? This has always been a huge passion of mine and I really want to get into that. I basically did all the PR/Advertising/digital content for my rocketry team in college and got pretty good at it, or at least I think so. I've got a physics degree so it's a little incongruent with that goal but that's really where I want to end up. I tend to get the silent treatment with online applications and it's frustrating. Like throwing an application into a black hole.
Couple of pieces I made:
https://www.newschoolers.com/videos/watch/920897/This-Is-River-City-Rocketry
https://www.newschoolers.com/videos/watch/920898/Discover-Utah
Sorry to hijack a bit.
AbiHWhere is the last scene in the Utah video shot? (Yes I know Utah somewhere but where? Haha)
ps good content I like them
WalreeseSmall mountain in colorado, ski cooper
ZiggyZagSkzzI haven't been to Cooper in a few years, I kinda miss it but idk if I'll have fun. How do you go from dropping Montana steeps to green glades?
WalreeseWhere you at in Montana?
7springsprodAirline pilot. Shit is fun sometimes.
ButteredToast.Any tips? This has always been a huge passion of mine and I really want to get into that. I basically did all the PR/Advertising/digital content for my rocketry team in college and got pretty good at it, or at least I think so. I've got a physics degree so it's a little incongruent with that goal but that's really where I want to end up. I tend to get the silent treatment with online applications and it's frustrating. Like throwing an application into a black hole.
Couple of pieces I made:
https://www.newschoolers.com/videos/watch/920897/This-Is-River-City-Rocketry
https://www.newschoolers.com/videos/watch/920898/Discover-Utah
Sorry to hijack a bit.
theLiquorOil Geologist. Pretty great gig, live in Denver, it’s not M-F schedule so skiing is actually fun and not a huge pain in the ass (I really have no idea how weekend warrriors do it, I’d just quit).
As far from house flipping—it’s not the most immoral thing directly but ultimately leads to gentrification. And then ironically it’s more than likely ‘progressives’ that move into those neighborhoods who are big SJW’s completely neglecting the fact they just supported the forcing/pricing out lower class and minorities out of their homes
Chubz.I'm currently in the babysteps of chasing a career in film/marketing/advertising. Currently got an internship at a local resort and it's been really rewarding so far. Hoping I find more opportunities like that when I move out the U next fall.
I liked those pieces a lot, only criticism I have about the Utah one was some of the shots seemed to drag on a bit, I would have cut them by a second or 2. But other than that I think you're on the right track. I loved the transition with the door closing, that stuck with me through the whole video. Keep practicing and reach out to clients to get your name out there. Market yourself, make a reel of your very best shots and send them out. I think with more practice and experience you could do well in that field. What did you shoot those on?
The referenced post has been removed.
Nickc88Wut
theLiquorOil Geologist. Pretty great gig, live in Denver, it’s not M-F schedule so skiing is actually fun and not a huge pain in the ass (I really have no idea how weekend warrriors do it, I’d just quit).
As far from house flipping—it’s not the most immoral thing directly but ultimately leads to gentrification. And then ironically it’s more than likely ‘progressives’ that move into those neighborhoods who are big SJW’s completely neglecting the fact they just supported the forcing/pricing out lower class and minorities out of their homes
AbiHSo far it seems like I have indeed joined a middle schooler’s cult.... DOES YOUR MOTHER KNOW YOUR ONLINE?!
