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SVTPerformance's Chain of Restaurants
Road Side Pub
Time for a rant...super frustrated with trying to find a house to buy
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<blockquote data-quote="Kevins89notch" data-source="post: 16423766" data-attributes="member: 31255"><p>For actual residents, yes. The issue some are claiming could happen is airbnb and rentals. There are multi blogs out about people who turned airbnb into their income. Those people have 20, 40, 80 rentals on their books. They employee full time house/apartment cleaners. Some even got in on the smaller side. I was discussing this with a friend and posted this from a recent news article...</p><p></p><p>__________________</p><p>Smaller players have spent hundreds of thousands of dollars each buying homes for short-term rentals. Jennifer Kelleher-Hazlett of Clawson, Mich., spent about $380,000 to buy two Michigan properties in 2018. She said she and her husband cashed out their financial investments and borrowed $100,000 from employers to furnish them. The 47-year-old expected to net up to $7,000 a month from Airbnb after mortgage payments, supplementing her income as a part-time pharmacist and her husband’s as a schoolteacher. Before the virus struck, the couple was considering buying more homes. Now, they can’t make mortgage payments because no one is booking, she said. “We’re either borrowing more or defaulting.”</p><p>__________________</p><p></p><p></p><p>It was a no lose thing in Orlando, Vegas, and I'm sure in several other cities too, but some are claiming Vegas and Orlando will get hit the hardest by the sell off of rental properties. The only issue to be seen is what will really happen. In Orlando, in the area I'm looking for a house, there's like 107 for sale, and of those, of the ones listed in the last week, 7 are airbnb rentals. Are more owners holding out with hopes? Can they hang on? Will more be hitting the market in 4 weeks? 12 weeks? That's the unknown.</p></blockquote><p></p>
[QUOTE="Kevins89notch, post: 16423766, member: 31255"] For actual residents, yes. The issue some are claiming could happen is airbnb and rentals. There are multi blogs out about people who turned airbnb into their income. Those people have 20, 40, 80 rentals on their books. They employee full time house/apartment cleaners. Some even got in on the smaller side. I was discussing this with a friend and posted this from a recent news article... __________________ Smaller players have spent hundreds of thousands of dollars each buying homes for short-term rentals. Jennifer Kelleher-Hazlett of Clawson, Mich., spent about $380,000 to buy two Michigan properties in 2018. She said she and her husband cashed out their financial investments and borrowed $100,000 from employers to furnish them. The 47-year-old expected to net up to $7,000 a month from Airbnb after mortgage payments, supplementing her income as a part-time pharmacist and her husband’s as a schoolteacher. Before the virus struck, the couple was considering buying more homes. Now, they can’t make mortgage payments because no one is booking, she said. “We’re either borrowing more or defaulting.” __________________ It was a no lose thing in Orlando, Vegas, and I'm sure in several other cities too, but some are claiming Vegas and Orlando will get hit the hardest by the sell off of rental properties. The only issue to be seen is what will really happen. In Orlando, in the area I'm looking for a house, there's like 107 for sale, and of those, of the ones listed in the last week, 7 are airbnb rentals. Are more owners holding out with hopes? Can they hang on? Will more be hitting the market in 4 weeks? 12 weeks? That's the unknown. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Time for a rant...super frustrated with trying to find a house to buy
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