Investors Pile Into Housing, This Time as Landlords
LAKE FOREST, Calif.—Jeff Pintar had buyer’s remorse as he purchased 12 foreclosed homes in five Southern California counties on a single day. His regret: that he didn’t buy more homes a year earlier.
“Things have turned around faster than anyone anticipated,” said Mr. Pintar, who first began buying properties here four years ago and now owns or manages 1,700 homes, which he rents out for between $1,000 and $3,800 a month. Here in Orange County, nearly every home listed for less than $400,000 “is being pursued by institutional investor capital,” he said.
U.S. housing recoveries almost always have been ignited by rising demand from families and individuals looking for a place to live. This recovery is different. Investors—including some big Wall Street players—are leading the way, say industry executives and analysts. Their role is noteworthy given that flippers and speculators were blamed for helping to inflate the housing bubble of the past decade.
Today’s investors are mostly buying with the intention of holding on to the homes and renting them out. As they pile into the housing market, they have set off a chain reaction that has stabilized prices and changed market psychology, industry executives and analysts say. Fear of buying homes when prices are dropping has been replaced by the fear of missing out on cheap homes.
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Well maybe some day they will all be put in jail for fencing stolen good’s. So lets rent our own homes and then don’t pay and stay in it until they evict you in court this takes at least 3 months your credit is a farce anyway. just imagine if you owned 2000 rentals and no one paid and ransacked the joint everytime they where evicted. How much would they be making then? GREEDY PIGS think they are smart investor’s. So dumb and numb they can’t feel themselves chewing on their own leg’s. HERE PIGGY PIGGY! Just kill the land lord and burry them in the back yard. THE RENT IS PAYED!
just imagine if you owned 2000 rentals and no one paid and ransacked the joint everytime they where evicted. How much would they be making then?
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All it takes is getting a listing of available properties from the property manager and verifying bankster ownership on the county website… a $45 set of jiggly keys or “bump” keys will get you in … 5 minutes is all it takes to wipe out 5 years of profits. NOT THAT I’M ADVOCATING TAKING ANY ILLEGAL (BUT HIGHLY EFFECTIVE) ACTIONS.
Just another bubble. The investors will be shafted and the middle men will reap the profit. The titles are clouded for sure. I guess we will have to wait until sometime in the 2020’s to see any thing close to a sustainable housing market.
Son of a bitch. They steal our homes and then rent them back to us.
The rent might not be paid, that can happen. These real estate goons are into flip mode, just like they were back prior to bubble collapse, gushing with enthusiasm as they work to score big. The collapse never really hurt big capital, they were bailed out and rescued and want a return to the good ol’ days when the gettin’ was good. Yeee Hawww!
Already in my town. Thank you for this info.. it made my stomach turn but I now feel validated. The physical changes to my neighborhood are easy to see. Investors are swarming in, tearing down historical remembrances of this small beach town , building town houses and condos…getting variances or whatever they need to build as high as possible to get that ocean view. This Mom and Pop beach town may be slipping away. Home owners and individual buyers are shut out of the market, as foreclosed beach town cottages are being bought up and torn down all around me. Anyone else see changes in their neighborhood ?
I have rented in two REITS and since REIT management refuses to tell you who your neighbdors will be, I ended up next to druggies each time.
But for extra money they let you bring a dog.
Coming to a town soon in your area.Wonder if any of these people are aware that none of the titles are clean and they don’t truly own anything.Not the brightest lights in the harbor.
Any way to really screw with the screws? non-stop demands to fix plumbing and electrical gremlins for starts ,,, then file claiming to be in adverse possession… attack the sale(s) and standing of parties … move in and go back to the original owner and get a second lease agreement from them AND RECORD IT … just plain go nuts with it .. make owning one of these hell…