Tweet
What would happen to price of the house if opportunists like you didn't buy them in the first place? Maybe then everyone could afford one. Did you ever think of that?
Yep. You know what I did? Get ready...this is top secret stuff you're about to read.
I went to a realtor!
Wow...amazing stuffs. There were thousands of houses for sale. Thousands.
Some had been on the market for a long time. A year or more.
The people who owned them were getting tired of holding onto them and were ready to deal on price.
So we negotiated.
Here's the next big secret. The work I did was entirely available to the public! That means that ANYONE could have done EXACTLY the same thing.
Anyone.
3% down, Kid. That's all it takes. Save up enough for three % down (15% in my case, since these are investment props). So I actually had to pay FIVE TIMES MORE than people looking to buy a primary residence.
Five hundred percent more!!! Gosh I feel exploited now.
Here's the third big secret. Right now...today...there are more houses on the market than there were when I purchased!
There's a constant supply of them. That happens when people live in a free society and can come and go as it suits them. I like that a lot.
Here's the third big secret. Wanna know how many homes are owned by investors in Richland County (where I live)? 3%.
Yep. 3%.
Which tells me that 97% are owned by the folks actually living in them.
Which tells me that, best case, if NO ONE bought investment properties, housing prices would drop by....3%.
Median housing prices in this area are $80,000
3% of 80k (your downpayment) would be $2400.00
97% of that value (if no one were buying investment properties and the housing price dropped by the predicted 3%) $2328...or seventy-two dollars.
But that's prolly not the answer you were hoping for.
-=Vel=-
Yep. You know what I did? Get ready...this is top secret stuff you're about to read.
I went to a realtor!
Wow...amazing stuffs. There were thousands of houses for sale. Thousands.
Some had been on the market for a long time. A year or more.
The people who owned them were getting tired of holding onto them and were ready to deal on price.
So we negotiated.
Here's the next big secret. The work I did was entirely available to the public! That means that ANYONE could have done EXACTLY the same thing.
Anyone.
3% down, Kid. That's all it takes. Save up enough for three % down (15% in my case, since these are investment props). So I actually had to pay FIVE TIMES MORE than people looking to buy a primary residence.
Five hundred percent more!!! Gosh I feel exploited now.
Here's the third big secret. Right now...today...there are more houses on the market than there were when I purchased!
There's a constant supply of them. That happens when people live in a free society and can come and go as it suits them. I like that a lot.
Here's the third big secret. Wanna know how many homes are owned by investors in Richland County (where I live)? 3%.
Yep. 3%.
Which tells me that 97% are owned by the folks actually living in them.
Which tells me that, best case, if NO ONE bought investment properties, housing prices would drop by....3%.
Median housing prices in this area are $80,000
3% of 80k (your downpayment) would be $2400.00
97% of that value (if no one were buying investment properties and the housing price dropped by the predicted 3%) $2328...or seventy-two dollars.
But that's prolly not the answer you were hoping for.
-=Vel=-
ACK!
Comment