Hedge fund no longer wants to be landlord
invite response
2012 Oct 18, 7:35am 4,919 views 10 comments
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MershedPerturders
2012 Oct 18, 8:11am
I think they know that the city municipalities are going to respond to this. It's called slumlording.
Why the fuck did we give these banks TRILLIONS of dollars and now they own our cities? WAKE UP!
It's going to be a BIG problem for some time to come.
CrazyMan
2012 Oct 18, 8:14am
"It's not surprising that some investors may have overestimated rental returns," said Rick Sharga, executive vice president with Carrington Mortgage Holdings
No shit, really.
Patrick
2012 Oct 18, 10:42am
They couldn't squeeze enough rent out of the renters.
Yes, the thing about rents is that no one will lend you money to pay your rent.
Rents are very real in a way that prices are not.
MershedPerturders
2012 Oct 18, 10:49am
They couldn't squeeze enough rent out of the renters.
Yes, the thing about rents is that no one will lend you money to pay your rent.
ever heard of a Pawnshop, hommie?
New Renter
2012 Oct 18, 5:15pm
They couldn't squeeze enough rent out of the renters.
Yes, the thing about rents is that no one will lend you money to pay your rent.
ever heard of a Pawnshop, hommie?
What's that?
Go ahead….. Join their club and lose your shirt(s). Like millions before them.
They will. There are plenty of fools who don't realise they ARE the suckers in the game.
lostand confused
2012 Oct 18, 11:21pm
Buying a giant apartment complex and managing it is totally different than buying hundreds or thousands of SFH scattered across cities and managing them.
These hedge funds got a giant discount though-at least from what I read and I guess realized the bounce is meeting resistance and want to be out and dump it on the "retail" investor.
They couldn't squeeze enough rent out of the renters.
Yes, the thing about rents is that no one will lend you money to pay your rent.
Rents are very real in a way that prices are not.
Exactly. Rent in my area only goes up to about $1500. Anything more than that has a very small market. So, I rather purchase $20k-$30k houses and rent out ~$600 instead of getting $1200 per month for a $120k house.
Goran_K
2012 Oct 19, 4:41am
What? You mean rents can't rise above incomes without adverse effects on landlords?
http://www.reuters.com/article/2012/10/17/us-foreclosed-hedgefunds-idUSBRE89G1TE20121017
Investors watch out!
#housing