#buy multi family property

[themultifamilymindset]

Efficient Rent Collection for Multifamily Properties

Streamline rent collection effortlessly for multifamily properties. Our system ensures timely payments, reducing stress for landlords and tenants. With user-friendly tools, track payments, send reminders, and boost efficiency. Elevate your property management with hassle-free multifamily property rent collection, creating a positive and organized rental experience for everyone involved.

[sralasvegas]

Real Estate Agent Broker in North Las Vegas

Find Your Dream Property in North Las Vegas! We are your trusted real estate agent broker in North Las Vegas and are here to assist. With our in-depth knowledge of the local market, we'll help you discover the perfect home or investment property. From luxury estates to cozy condos, we have a diverse listing portfolio. Start your real estate journey with us today.

Call: 7028053008

[estesgroup]

Investing in multifamily brokers can be a difficult task, but it is well worth it. With a high demand for rental homes, multifamily apartments have become one of the most popular types of real estate investments. Multifamily buildings have become an attractive source of passive income for many real estate investors due to their strong demand. To know more visit https://estesgroup.net/services/multifamily-brokerage/ or call us at 601.362.9633.

[asherbrien]

How To Use Cash To Buy Multi-Family Properties?

Buying multi-family properties with cash can be an advantageous strategy for investors looking to maximize their returns and minimize their reliance on financing. Here’s a comprehensive guide on how to effectively use cash to acquire multi-family properties.

Understand Your Investment Goals

Before diving into the property market, clarify your investment objectives. Are you looking for long-term rental income, short-term flipping opportunities, or a combination of both? Understanding your goals will help guide your investment choices and ensure they align with your financial strategy.

Research the Market

Conduct thorough market research to identify promising areas for investment. Look for neighborhoods with strong rental demand, good schools, and amenities like parks and shopping centers. Analyze historical property values, current rental rates, and vacancy rates to assess potential returns. Online resources, local real estate agents, and property management companies can provide valuable insights into the market.

Determine Your Budget

Establish a realistic budget based on your cash reserves and investment goals. When buying with cash, it's essential to consider not only the purchase price but also closing costs, property taxes, insurance, maintenance, and potential renovation expenses. A detailed budget will help you avoid overspending and ensure you have sufficient funds for ongoing expenses.

Identify Suitable Properties

Once you have a budget and market knowledge, start looking for multi-family properties that fit your criteria. Consider various types of properties, such as duplexes, triplexes, or larger apartment buildings. Use real estate listing websites, local listings, and networking with real estate agents to find available properties.

Conduct Thorough Due Diligence

Before making an offer, perform thorough due diligence on the property. This includes reviewing the property’s financials, including rent rolls, operating expenses, and maintenance records. Conduct a property inspection to identify any potential issues that could impact your investment. Understanding the property's condition and financial health will allow you to negotiate better and avoid costly surprises down the line.

Make a Competitive Cash Offer

Cash offers can be particularly attractive to sellers as they eliminate the uncertainties associated with financing. When you find a suitable property, make a competitive cash offer. Emphasize your ability to close quickly, which can give you an edge over buyers relying on financing.

Close the Deal

Once your offer is accepted, work with a real estate attorney or a title company to facilitate the closing process. Ensure all paperwork is in order, including the purchase agreement, title search, and any necessary inspections. Closing with cash typically involves fewer complications compared to finance purchases, which can expedite the process.

Prepare for Property Management

After acquiring the property, determine your management strategy. Will you manage it yourself, or hire a property management company? Effective property management is crucial for maximizing returns, ensuring tenant satisfaction, and maintaining the property’s condition. If you opt for self-management, familiarize yourself with local landlord-tenant laws and property management best practices.

Consider Future Investments

Using cash to purchase multi-family properties can create a strong foundation for your real estate portfolio. As you build equity and generate rental income, consider reinvesting profits into additional properties or improvements. Diversifying your investment strategy can lead to long-term wealth accumulation.

Conclusion

Buying multi-family properties with cash can be a highly rewarding investment strategy. By purchasing homes for cash, you can bypass traditional financing hurdles and expedite the acquisition process. By understanding your goals, conducting thorough research, and managing your properties effectively, you can achieve financial success in the real estate market. Remember to stay informed about market trends and continually reassess your investment strategy to adapt to changing conditions.

[perfectrealestateinvestments]

Investing in the Future of Living: A Guide to Multifamily Real Estate

In the vast landscape of commercial real estate (CRE), multifamily properties stand out as a resilient and attractive asset class. As populations grow, urbanization continues, and housing preferences evolve, the demand for multifamily housing remains strong. This article aims to shed light on the multifamily sector, exploring its diverse property types, investment strategies, and key…

[royaltygrouprealtyinc]

Purchasing Multi-Family Properties in English Columbia with Eminence Gathering Realty Inc

Open the capability of land interest in English Columbia with Eminence Gathering Realty Inc. Investigate rewarding open doors in purchasing a multi-family property. Our master group explores the powerful market to guarantee your speculation achievement. Trust Eminence Gathering Realty Inc for a consistent and remunerating land venture in gorgeous English Columbia. For more info:- https://royalty.ca/

[rickchohanrealtor]

Looking For Rental Properties In Toronto?

https://rickchohan.exprealty.com/ for all your rental needs in Toronto. We offer a wide variety of listings from condos to detached homes, as well as single family homes and townhouses. We also have access to an extensive network of lenders and settlement agents who can help with any financial requirements that may come up during the leasing process.

[myobsessionsspace]

This is an assumption. But why do you think JK bought his property in Itaewon out of all places ? And now building a mansion there which means that will be his main house he decides to settle. I've seen all korean stars buying their homes to love with their family in more decent and high end areas like Gagnam, Hannam etc. No one really buys property in itaewon with an aim to settle there with family as it's like the party spot of SK. Itaewon is known for clubs, brothels, parties, drugs and prostitution, most only go there to party, have one night stands or do illegal activities. Someone visiting Itaewon often is eye brow raising enough so building a whole mansion there is sus af isn't it ?

Hey,

I understand tone can’t be accurately interpreted with written words, so I just want to make my tone clear first and foremost.

I’m speaking with no harshness, judgement or condescension.

DM me and we can delulu cutely together with no air of authority on the matter, cos we should know we don’t know shit, but can still want to coo and dream with others 🤗.

We’ve seen and been outraged by sasaengs and their stalking of members and called them out at times. We’ve literally seen Jungkook on live entering his apartment and being annoyed with sasaengs loitering outside of his building, he has even said in that same live that he knows people knows where he lives and posted online.

Put yourselves in their shoes, who wants millions knowing your full address and being able to turn up unannounced? Because they’re fans of your music, of your image? I’m gonna leave that there.

I will say in regards to Itaewon, I’m not Korean, I don’t have a Korean father, a Korean brother, a Korean bff who works at Hybe, nothing. I do have a friend who went on a program, studied there and lived there for years but that’s it. I don’t know anything about Itaewon apart from the Halloween tragedy and a K-Drama. So guess what I did, yup you guessed it, I GOGGLED💪

No one really buys property in itaewon with an aim to settle there with family as it's like the party spot of SK. Itaewon is known for clubs, brothels, parties, drugs and prostitution, most only go there to party, have one night stands or do illegal activities. Someone visiting Itaewon often is eye brow raising enough so building a whole mansion there is sus af isn't it ?

Incoming cheeky tone…I thought I said ‘genuine asks’? This right here sounds like laying down the groundwork to paint a certain picture of Jungkook?🤔🤨

Itaewon

You said: ‘I’ve seen all Korean stars buying their homes to live with their families in more decent high end areas like Gangnam, Hannam etc’.

I say: That’s a pretty bold, blanket statement 😬

Famous idol Rain and his actress wife and children have a home in Itaewon as do many other celebrities with their spouses, partners and families

Actor Song Joong-Ki and his British wife, who was pregnant at the time, moved to his Itaewon mansion along with her family from the UK. They welcomed a baby girl in 2023.

Chaebols like those belonging to the Samsung family also have homes in Itaewon

Doing my googles, Itaewon is known as ‘a multi-cultural commercial area located in Seoul, South Korea. It is one of the most popular neighborhoods in Seoul, known for its nightlife and trendy restaurants.’ ‘Seoul's International District’.

I know some other places that sound like the above.. London…New York…Paris…

I wonder where the prostitution, drugs and one night stands come into it for people who wanna buy or build houses in those cities?

Jungkook is currently a 26 year old multimillionaire, who is a member of one of the biggest groups in not just South Korea, but the world, so I guess he’ll have lots to do when he’s not working his ass off with his intense more than full time job. Settling somewhere with family…I’m sure he’ll take Bam into consideration in his plans, wherever it may be.

Something I did find cool when doing my googles 😁

‘Korean singer-songwriter JYP (Park Jin-young) and Yoo Se-yoon's hip hop duo UV released the song "Itaewon Freedom" in April 2011. The title alludes to (and the lyrics celebrate) a common Korean perception of Itaewon's "open atmosphere", in contrast with conventional Korean culture, which is more conservative.’

LGBTQIA+ ‘haven’ Itaewon

‘The 2020 South Korean Netflix television series Itaewon Class is set in Itaewon. The drama was praised for its diverse and inclusive cast and its realistic portrayal of subjects such as prejudice and discrimination against foreigners, ex-convicts and the LGBT people, as well as the portrayal of misbehaviors by chaebol corporations.’

Sounds like Itaewon is a cool, diverse, inclusive place, full of sites & attractions, shops and good food. If a 26+ year old man that’s been working and in the public eye since 13/14 wanted to build a home there, Itaewon sounds like a great place and a good investment.

I’d love to visit there, if I ever had the time AND money 🥲

Thanks for the ask, it caused me to learn something new!

💜

[allthecanadianpolitics]

A British Columbia government fund to help non-profits buy rental buildings to protect tenants from eviction and maintain affordable rents is on track to exceed its target of 2,000 homes. Premier David Eby says the government’s $500 million rental protection fund has so far approved funding to provide 1,500 affordable homes under the project, with many more applications being considered. The government introduced the rental protection fund last year as part of its homebuilding and affordability agenda, to help preserve existing affordable rental properties and protect tenants from large rent increases. Eby says the latest projects include a 35-unit apartment in North Vancouver and a 40-unit multi-family building in Squamish that have been purchased by Indigenous-led non-profit housing agencies.

Continue Reading

Tagging: @newsfromstolenland

[meret118]

A new report from Popular Democracy and the Institute for Policy Studies reveals how billionaire investors have become a major driver of the nationwide housing crisis. They summarize in their own words:

Billionaire-backed private equity firms worm their way into different segments of the housing market to extract ever-increasing rents and value from multi-family rental, single-family homes, and mobile home park communities.— Global billionaires purchase billions in U.S. real estate to diversify their asset holdings, driving the creation of luxury housing that functions as “safety deposit boxes in the sky.” Estimates of hidden wealth are as high as $36 trillion globally, with billions parked in U.S. land and housing markets. — Wealthy investors are acquiring property and holding units vacant, so that in many communities the number of vacant units greatly exceeds the number of unhoused people. Nationwide there are 16 million vacant homes: that is, 28 vacant homes for every unhoused person. — Billionaire investors are buying up a large segment of the short-term rental market, preventing local residents from living in these homes, in order to cash in on tourism. These are not small owners with one unit, but corporate owners with multiple properties. — Billionaire investors and corporate landlords are targeting communities of color and low-income residents, in particular, with rent increases, high rates of eviction, and unhealthy living conditions. What’s more, billionaire-owned private equity firms are investing in subsidized housing, enjoying tax breaks and public benefits, while raising rents and evicting low-income tenants from housing they are only required to keep affordable, temporarily.

. . .

Thirty-two percent is the magic threshold, according to research funded by the real estate listing company Zillow. When neighborhoods hit rent rates in excess of 32 percent of neighborhood income, homelessness explodes. And we’re seeing it play out right in front of us in cities across America because a handful of Wall Street billionaires are making a killing.

As the Zillow study notes:

“Across the country, the rent burden already exceeds the 32 percent [of median income] threshold in 100 of the 386 markets included in this analysis….”And wherever housing prices become more than three times annual income, homelessness stalks like the grim reaper.

That Zillow-funded study laid it out:

“This research demonstrates that the homeless population climbs faster when rent affordability — the share of income people spend on rent — crosses certain thresholds. In many areas beyond those thresholds, even modest rent increases can push thousands more Americans into homelessness.”This trend is massive.

. . .

As noted in a Wall Street Journal article titled “Meet Your New Landlord: Wall Street,” in just one suburb (Spring Hill) of Nashville:

“In all of Spring Hill, four firms … own nearly 700 houses … [which] amounts to about 5% of all the houses in town.”

This is the tiniest tip of the iceberg.

“On the first Tuesday of each month,” notes the Journal article about a similar phenomenon in Atlanta, investors “toted duffels stuffed with millions of dollars in cashier’s checks made out in various denominations so they wouldn’t have to interrupt their buying spree with trips to the bank…”

The same thing is happening in cities and suburbs all across America; agents for the billionaire investor goliaths use fine-tuned computer algorithms to sniff out houses they can turn into rental properties, making over-market and unbeatable cash bids often within minutes of a house hitting the market.

. . .

As the Bank of International Settlements summarized in a 2014 retrospective study of the years since the Reagan/Gingrich changes in banking and finance:

“We describe a Pareto frontier along which different levels of risk-taking map into different levels of welfare for the two parties, pitting Main Street against Wall Street. … We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to Wall Street at the expense of Main Street

.”It’s a fancy way of saying that billionaire-owned big banks and hedge funds have made trillions on housing while you and your community are becoming destitute.

. . .

Turns out it was Blackstone Group, now the world’s largest real estate investor run by a major Trump supporter. At the time they were buying $150 million worth of American houses every week, trying to spend over $10 billion. And that’s just a drop in the overall bucket.

As that new study from Popular Democracy and the Institute for Policy Studies found:

“[Billionaire Stephen Schwarzman’s] Blackstone is the largest corporate landlord in the world, with a vast and diversified real estate portfolio. It owns more than 300,000 residential units across the U.S., has $1 trillion in global assets, and nearly doubled its profits in 2021. “Blackstone owns 149,000 multi-family apartment units; 63,000 single-family homes; 70 mobile home parks with 13,000 lots through their subsidiary Treehouse Communities; and student housing, through American Campus Communities (144,300 beds in 205 properties as of 2022). Blackstone recently acquired 95,000 units of subsidized housing.”

In 2018, corporations and the billionaires that own or run them bought 1 out of every 10 homes sold in America, according to Dezember, noting that:

“Between 2006 and 2016, when the homeownership rate fell to its lowest level in fifty years, the number of renters grew by about a quarter.”

And it’s gotten worse every year since then.

. . .

Warren Buffett, KKR, and The Carlyle Group have all jumped into residential real estate, along with hundreds of smaller investment groups, and the National Home Rental Council has emerged as the industry’s premiere lobbying group, working to block rent control legislation and other efforts to control the industry.

As John Husing, the owner of Economics and Politics Inc., told The Tennessean newspaper:

“What you have are neighborhoods that are essentially unregulated apartment houses. It could be disastrous for the city.”

As Zillow found:

“The areas that are most vulnerable to rising rents, unaffordability, and poverty hold 15 percent of the U.S. population — and 47 percent of people experiencing homelessness.”

. . .

The loss of affordable homes also locks otherwise middle class families out of the traditional way wealth is accumulated — through home ownership: over 61% of all American middle-income family wealth is their home’s equity.

And as families are priced out of ownership and forced to rent, they become more vulnerable to homelessness.

Housing is one of the primary essentials of life. Nobody in America should be without it, and for society to work, housing costs must track incomes in a way that makes housing both available and affordable.

Singapore, Denmark, New Zealand, and parts of Canada have all put limits on billionaire, corporate, and foreign investment in housing, recognizing families’ residences as essential to life rather than purely a commodity. Multiple other countries are having that debate or moving to take similar actions as you read these words.

To address the housing shortage and bring down prices for renters and homeowners alike, the Harris campaign’s plan calls for a historic expansion of the Low-Income Housing Tax Credit (LIHTC) and the first-ever tax incentive for homebuilders who build starter homes sold to first-time homebuyers. Building upon the Biden-Harris administration’s proposed $20 billion innovation fund, the campaign proposes a $40 billion fund that would support local innovations in housing supply solutions, catalyze innovative methods of construction financing, and empower developers and homebuilders to design and build affordable homes.

To cut red tape and bring down housing costs, the plan calls for streamlining permitting processes and reviews, including for transit-oriented development and conversions. The agenda also proposes making certain federal lands eligible to be repurposed for affordable housing development. Collectively, these policy proposals seek to create 3 million homes in the next four years.

The campaign plan cites the Biden-Harris administration’s ongoing actions to support the lowest-income renters, including its actions to expand rental assistance for veterans and other low-income renters, increase housing supply for people experiencing homelessness, enforce fair housing laws, and hold corporate landlords accountable.

Building upon these commitments, the Harris agenda calls upon Congress to pass the “Stop Predatory Investing Act,” which would remove key tax benefits for major investors who acquire large numbers of single-family rental homes (see Memo, 7/17/23), and the “Preventing the Algorithmic Facilitation of Rental Housing Cartels Act,” which would crack down on algorithmic rent-setting software that enables price-fixing among corporate landlords.

To make homeownership attainable, Vice President Harris’s proposal would provide up to $25,000 in downpayment assistance for first-time homebuyers who have paid their rent on time for two years. First-generation homeowners – those whose parents did not own homes – would receive more generous assistance.

Vice President Harris’s economic agenda also includes proposals to lower grocery costs, lower the costs of prescription drugs and relieve medical debt, and cut taxes for workers and families with children. The plan would restore the American Rescue Plan’s expanded Child Tax Credit, which provided up to $3,600 per child for low- and middle-income families for one year before it expired in 2022, and would enact a new $6,000 tax credit for families in the first year after their child is born. These measures to reduce expenses and boost household income would also improve housing security for low-income families, who often face impossible tradeoffs between paying rent and affording food, medical care, and other basic needs.

-----

Sorry for the length, but I thought this was really important.

[posttexasstressdisorder]

How Trump's billionaires are hijacking affordable housing

Thom Hartmann

October 24, 2024 8:52AM ET

Republican presidential nominee and former U.S. President Donald Trump attends the 79th annual Alfred E. Smith Memorial Foundation Dinner in New York City, U.S., October 17, 2024. REUTERS/Brendan McDermid

America’s morbidly rich billionaires are at it again, this time screwing the average family’s ability to have decent, affordable housing in their never-ending quest for more, more, more. Canada, New Zealand, Singapore, and Denmark have had enough and done something about it: we should, too.

There are a few things that are essential to “life, liberty, and the pursuit of happiness” that should never be purely left to the marketplace; these are the most important sectors where government intervention, regulation, and even subsidy are not just appropriate but essential. Housing is at the top of that list.

A few days ago I noted how, since the Reagan Revolution, the cost of housing has exploded in America, relative to working class income.

When my dad bought his home in the 1950s, for example, the median price of a single-family house was around 2.2 times the median American family income. Today the St. Louis Fed says the median house sells for $417,700 while the median American income is $40,480—a ratio of more than 10 to 1 between housing costs and annual income.

ALSO READ: He’s mentally ill:' NY laughs ahead of Trump's Madison Square Garden rally

In other words, housing is about five times more expensive (relative to income) than it was in the 1950s.

And now we’ve surged past a new tipping point, causing the homelessness that’s plagued America’s cities since George W. Bush’s deregulation-driven housing- and stock-market crash in 2008, exacerbated by Trump’s bungling America’s pandemic response.

And the principal cause of both that crash and today’s crisis of homelessness and housing affordability has one, single, primary cause: billionaires treating housing as an investment commodity.

A new report from Popular Democracy and the Institute for Policy Studies reveals how billionaire investors have become a major driver of the nationwide housing crisis. They summarize in their own words:

— Billionaire-backed private equity firms worm their way into different segments of the housing market to extract ever-increasing rents and value from multi-family rental, single-family homes, and mobile home park communities. — Global billionaires purchase billions in U.S. real estate to diversify their asset holdings, driving the creation of luxury housing that functions as “safety deposit boxes in the sky.” Estimates of hidden wealth are as high as $36 trillion globally, with billions parked in U.S. land and housing markets. — Wealthy investors are acquiring property and holding units vacant, so that in many communities the number of vacant units greatly exceeds the number of unhoused people. Nationwide there are 16 million vacant homes: that is, 28 vacant homes for every unhoused person. — Billionaire investors are buying up a large segment of the short-term rental market, preventing local residents from living in these homes, in order to cash in on tourism. These are not small owners with one unit, but corporate owners with multiple properties. — Billionaire investors and corporate landlords are targeting communities of color and low-income residents, in particular, with rent increases, high rates of eviction, and unhealthy living conditions. What’s more, billionaire-owned private equity firms are investing in subsidized housing, enjoying tax breaks and public benefits, while raising rents and evicting low-income tenants from housing they are only required to keep affordable, temporarily. (Emphasis theirs.)

It seems that everywhere you look in America you see the tragedy of the homelessness these billionaires are causing. Rarely, though, do you hear about the role of Wall Street and its billionaires in causing it.

The math, however, is irrefutable.

Thirty-two percent is the magic threshold, according to research funded by the real estate listing company Zillow. When neighborhoods hit rent rates in excess of 32 percent of neighborhood income, homelessness explodes. And we’re seeing it play out right in front of us in cities across America because a handful of Wall Street billionaires are making a killing.

As the Zillow study notes:

“Across the country, the rent burden already exceeds the 32 percent [of median income] threshold in 100 of the 386 markets included in this analysis….”

And wherever housing prices become more than three times annual income, homelessness stalks like the grim reaper. That Zillow-funded study laid it out:

“This research demonstrates that the homeless population climbs faster when rent affordability — the share of income people spend on rent — crosses certain thresholds. In many areas beyond those thresholds, even modest rent increases can push thousands more Americans into homelessness.”

This trend is massive.

As noted in a Wall Street Journal article titled “Meet Your New Landlord: Wall Street,” in just one suburb (Spring Hill) of Nashville:

“In all of Spring Hill, four firms … own nearly 700 houses … [which] amounts to about 5% of all the houses in town.”

This is the tiniest tip of the iceberg.

“On the first Tuesday of each month,” notes the Journal article about a similar phenomenon in Atlanta, investors “toted duffels stuffed with millions of dollars in cashier’s checks made out in various denominations so they wouldn’t have to interrupt their buying spree with trips to the bank…”

The same thing is happening in cities and suburbs all across America; agents for the billionaire investor goliaths use fine-tuned computer algorithms to sniff out houses they can turn into rental properties, making over-market and unbeatable cash bids often within minutes of a house hitting the market.

After stripping neighborhoods of homes young families can afford to buy, billionaires then begin raising rents to extract as much cash as they can from local working class communities.

In the Nashville suburb of Spring Hill, the vice-mayor, Bruce Hull, told the Journal you used to be able to rent “a three bedroom, two bath house for $1,000 a month.” Today, the Journal notes:

“The average rent for 148 single-family homes in Spring Hill owned by the big four [Wall Street billionaire investor] landlords was about $1,773 a month…”

As the Bank of International Settlements summarized in a 2014 retrospective study of the years since the Reagan/Gingrich changes in banking and finance:

“We describe a Pareto frontier along which different levels of risk-taking map into different levels of welfare for the two parties, pitting Main Street against Wall Street. … We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to Wall Street at the expense of Main Street.”

It’s a fancy way of saying that billionaire-owned big banks and hedge funds have made trillions on housing while you and your community are becoming destitute.

Ryan Dezember, in his book Underwater: How Our American Dream of Homeownership Became a Nightmare, describes the story of a family trying to buy a home in Phoenix. Every time they entered a bid, they were outbid instantly, the price rising over and over, until finally the family’s father threw in the towel.

“Jacobs was bewildered,” writes Dezember. “Who was this aggressive bidder?”

Turns out it was Blackstone Group, now the world’s largest real estate investor run by a major Trump supporter. At the time they were buying $150 million worth of American houses every week, trying to spend over $10 billion. And that’s just a drop in the overall bucket.

As that new study from Popular Democracy and the Institute for Policy Studies found:

“[Billionaire Stephen Schwarzman’s] Blackstone is the largest corporate landlord in the world, with a vast and diversified real estate portfolio. It owns more than 300,000 residential units across the U.S., has $1 trillion in global assets, and nearly doubled its profits in 2021. “Blackstone owns 149,000 multi-family apartment units; 63,000 single-family homes; 70 mobile home parks with 13,000 lots through their subsidiary Treehouse Communities; and student housing, through American Campus Communities (144,300 beds in 205 properties as of 2022). Blackstone recently acquired 95,000 units of subsidized housing.”

In 2018, corporations and the billionaires that own or run them bought 1 out of every 10 homes sold in America, according to Dezember, noting that:

“Between 2006 and 2016, when the homeownership rate fell to its lowest level in fifty years, the number of renters grew by about a quarter.”

And it’s gotten worse every year since then.

This all really took off around a decade ago following the Bush Crash, when Morgan Stanley published a 2011 report titled “The Rentership Society,” arguing that snapping up houses and renting them back to people who otherwise would have wanted to buy them could be the newest and hottest investment opportunity for Wall Street’s billionaires and their funds.

Turns out, Morgan Stanley was right. Warren Buffett, KKR, and The Carlyle Group have all jumped into residential real estate, along with hundreds of smaller investment groups, and the National Home Rental Council has emerged as the industry’s premiere lobbying group, working to block rent control legislation and other efforts to control the industry.

As John Husing, the owner of Economics and Politics Inc., told The Tennessean newspaper:

“What you have are neighborhoods that are essentially unregulated apartment houses. It could be disastrous for the city.”

As Zillow found:

“The areas that are most vulnerable to rising rents, unaffordability, and poverty hold 15 percent of the U.S. population — and 47 percent of people experiencing homelessness.”

The loss of affordable homes also locks otherwise middle class families out of the traditional way wealth is accumulated — through home ownership: over 61% of all American middle-income family wealth is their home’s equity.

And as families are priced out of ownership and forced to rent, they become more vulnerable to homelessness.

Housing is one of the primary essentials of life. Nobody in America should be without it, and for society to work, housing costs must track incomes in a way that makes housing both available and affordable.

Singapore, Denmark, New Zealand, and parts of Canada have all put limits on billionaire, corporate, and foreign investment in housing, recognizing families’ residences as essential to life rather than purely a commodity. Multiple other countries are having that debate or moving to take similar actions as you read these words.

America should, too.

ALSO READ: Not even ‘Fox and Friends’ can hide Trump’s dementia

[themultifamilymindset]

What to Consider When Buying Multi-Family Real Estate Properties

Real estate is one of the most popular investment options for passive income. There are many types of real estate investments but multifamily real estate is gaining popularity among investors for its potential for higher returns and fewer risks. Multifamily real estate refers to properties that have multiple units, such as apartments, condos, and townhouses. It may be a smart investment choice for those looking to diversify their portfolio and generate passive income.

When buying multi-family real estate properties, consider the location, the condition of the property, the age of the building, the amenities and features, the tenant profile, and the potential for rental income. Research the neighborhood and the local real estate market, and conduct a thorough inspection of the property. Evaluate the costs of renovations and ongoing maintenance, and review the financial statements of the property. Work with a knowledgeable real estate agent and a qualified inspector to make an informed decision.

It could be a smart choice if you want to buy a multifamily property. With multiple units under one roof, it can provide a steady stream of rental income and potentially increase your return on investment. Check out our blog for the things to consider when buying multifamily real estate properties

[sralasvegas]

Multi-Family Building for Sale in North Las Vegas

Discover an exceptional multi-family building for sale in North Las Vegas! Strategic Realty Advisors offers a lucrative rental market, spacious units, and desirable amenities. Whether you're an investor seeking steady cash flow or a homeowner looking for an income-generating property, don't miss out on this incredible deal. Secure your future today!

Call: 7028053008

[estesgroup]

There is a huge shortage of housing for all types of families across the country. Tennessee's multifamily real estate market is rising, so now is an excellent time to invest in these types of buildings to diversify your portfolio. The Estes Group can assist you in locating multifamily properties for sale in Tennessee that match your needs. These are five things to think about before entering the market. To know more visit https://estesgroup.net/five-tips-to-buy-multifamily-properties-for-sale-in-tennessee/ or call us at 601.362.9633.

[asherbrien]

How To Use Cash To Buy Multi-Family Properties?

Using cash to buy multi-family properties involves several steps. First, determine your budget based on available funds. Next, research and identify potential properties. Once you’ve selected a property, negotiate the purchase price and terms. Use your cash for homes to make a competitive offer, avoiding mortgage interest and fees. Finally, complete the transaction with a cash purchase, which often leads to faster closing and stronger negotiation leverage.

[robertreich]

The Dark Side of Sports Stadiums

Billionaires have found one more way to funnel our tax dollars into their bank accounts: sports stadiums. And if we don’t play ball, they’ll take our favorite teams away.

Ever notice how there never seems to be enough money to build public infrastructure like mass transit lines and better schools? And yet, when a multi-billion-dollar sports team demands a new stadium, our local governments are happy to oblige.

A good example of this billionaire boondoggle is the host of the 2023 Super Bowl: State Farm Stadium.

That's where the Arizona Cardinals have played since 2006. It was finally built after billionaire team owner Michael Bidwill and his family spent years hinting that they would move the Cards out of Arizona if the team didn't get a new stadium. Their blitz eventually worked, with Arizona taxpayers and the city of Glendale paying over two thirds of the $455 million construction tab.

And State Farm Stadium is not unique. It’s part of a well established playbook.

Here’s how stadiums stick the public with the bill.

Step 1: Billionaire buys a sports team.

Just about every NFL franchise owner has a net worth of over a billion dollars — except for the Green Bay Packers, who are publicly owned by half a million cheeseheads.

The same goes for many franchise owners in other sports. Their fortunes don’t just help them buy teams, but also give them clout — which they cash-in when they want to get a great deal on new digs for their team.

Step 2: Billionaire pressures local government.

Since 1990, franchises in major North American sports leagues have intercepted upwards of $30 billion worth of taxpayer funds from state and local governments to build stadiums.  

And the funding itself is just the beginning of these sweetheart deals.

Sports teams often get big property tax breaks and reimbursements on operating expenses, like utilities and security on game days. Most deals also let the owners keep the revenue from naming rights, luxury box seats, and concessions — like the Atlanta Braves’ $150 hamburger.

Even worse, these deals often put taxpayers on the hook for stadium maintenance and repairs.

We taxpayers are essentially paying for the homes of our favorite sports teams, but we don’t really own those homes, we don’t get to rent them out, and we still have to buy expensive tickets to visit them.

Whenever these billionaire owners try to sell us on a shiny new stadium, they claim it will spur economic growth from which we’ll all benefit.  But numerous studies have shown that this is false.

As a University of Chicago economist aptly put it, "If you want to inject money into the local economy, it would be better to drop it from a helicopter than invest it in a new ballpark."

But what makes sports teams special is they are one of the few realms of collective identity we have left.

Billionaires prey on the love that millions of fans have for their favorite teams.

This brings us to the final step in the playbook: Threaten to move the team.

Obscenely rich owners threaten to — or actually do — rip teams out of their communities if they don’t get the subsidies they demand.

Just look at the Seattle Supersonics. Starbucks’ founder Howard Schultz owned the NBA franchise but failed to secure public funding to build a new stadium. So the coffee magnate sold the team to another wealthy businessman who moved it to Oklahoma.

The most egregious part of how the system currently works is that every dollar we spend building stadiums is a dollar we aren’t using for hospitals or housing or schools.

We are underfunding public necessities in order to funnel money to billionaires for something they could feasibly afford.

So, instead of spending billions on extravagant stadiums, we should be investing taxpayer money in things that improve the lives of everyone — not just the bottom lines of profitable sports teams and their owners.  

Because when it comes to stadium deals, the only winners are billionaires.