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Old 06-22-2018, 11:22 AM
 
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So with all the buying and selling, what happens when you limit the take on assets. I know after more reading and post, people buy houses in hopes to get a return in their money. What if they implement that you can only buy so much or actually use it. If you buy 10 houses and your not renting them, then force you to sell back to the market, but if your leasing them out then get a tax break or something in return for helping the housing market. Think this would help the housing market or kill it? When i say market, i mean places for folks to live, not for somebody to over inflate it for quick buck.


Just throwing some ideas out, and like to know why so many buy houses, and not do anything with them for years, when it can help those that need it the most.
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Old 06-22-2018, 11:35 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,115 posts, read 3,411,881 times
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I'm not sure where you are coming from on this. You already said landlords are greedy and charge as much as they can. If that's the case why would a property owner with an unoccupied house even exist?
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Old 06-22-2018, 11:38 AM
 
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Quote:
Originally Posted by aslowdodge View Post
I'm not sure where you are coming from on this. You already said landlords are greedy and charge as much as they can. If that's the case why would a property owner with an unoccupied house even exist?

Their was some a report a while back that their is alot of empty houses in areas and not being leased/rented out, and turns out they are just being bought to hide money, and only paying the local taxes on them. So instead of buying stock of a company, your buying homes in hopes of better returns, till then it just sits, empty.
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Old 06-22-2018, 12:48 PM
 
Location: 5,400 feet
2,209 posts, read 2,278,381 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Their was some a report a while back that their is alot of empty houses in areas and not being leased/rented out, and turns out they are just being bought to hide money, and only paying the local taxes on them. So instead of buying stock of a company, your buying homes in hopes of better returns, till then it just sits, empty.

I have to think that the number of people doing that is incredibly small. If not, so what?
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Old 06-22-2018, 01:14 PM
 
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Originally Posted by jiminnm View Post
I have to think that the number of people doing that is incredibly small. If not, so what?
well if the housing in the area is being limited because of this, then your creating a shortage to inflate the prices. aka Manipulation of the market similar to what speculators does to the oil market.
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Old 06-22-2018, 01:39 PM
 
852 posts, read 364,143 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Their was some a report a while back that their is alot of empty houses in areas and not being leased/rented out, and turns out they are just being bought to hide money, and only paying the local taxes on them. So instead of buying stock of a company, your buying homes in hopes of better returns, till then it just sits, empty.
back in the 80's/90's there was a speculator who bought up a lot of the run down industrial properties in and around Center City Philadelphia. He did absolutely nothing to maintain the properties or correct any violations the city might slap on the properties, he just sat on them until someone came along with a development idea that required his property, at which point he'd flip the property and make a ton of money.

Because the properties fell into such disrepair, it was a blight on the city so there was a lot of discussion about how to correct the situation. Most of the discussion was around a change to the real estate tax system so that instead of basing the tax on what the current property was worth, it would be taxed on what the value of the land could be, ignoring existing improvements.

Politically and logistically they never passed anything.

I suspect any area that is experiencing anything similar would run into the same roadblocks.
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Old 06-22-2018, 02:24 PM
 
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Quote:
Originally Posted by SuiteLiving View Post
back in the 80's/90's there was a speculator who bought up a lot of the run down industrial properties in and around Center City Philadelphia. He did absolutely nothing to maintain the properties or correct any violations the city might slap on the properties, he just sat on them until someone came along with a development idea that required his property, at which point he'd flip the property and make a ton of money.

Because the properties fell into such disrepair, it was a blight on the city so there was a lot of discussion about how to correct the situation. Most of the discussion was around a change to the real estate tax system so that instead of basing the tax on what the current property was worth, it would be taxed on what the value of the land could be, ignoring existing improvements.

Politically and logistically they never passed anything.

I suspect any area that is experiencing anything similar would run into the same roadblocks.
Only way is to tax them more, or force them to sell vs holding it? instead of city pass, why cant state bring it up, unless they have lobbiest paying them off too.
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Old 06-22-2018, 03:22 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,115 posts, read 3,411,881 times
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Quote:
Originally Posted by SuiteLiving View Post
back in the 80's/90's there was a speculator who bought up a lot of the run down industrial properties in and around Center City Philadelphia. He did absolutely nothing to maintain the properties or correct any violations the city might slap on the properties, he just sat on them until someone came along with a development idea that required his property, at which point he'd flip the property and make a ton of money.

Because the properties fell into such disrepair, it was a blight on the city so there was a lot of discussion about how to correct the situation. Most of the discussion was around a change to the real estate tax system so that instead of basing the tax on what the current property was worth, it would be taxed on what the value of the land could be, ignoring existing improvements.

Politically and logistically they never passed anything.

I suspect any area that is experiencing anything similar would run into the same roadblocks.
Realistically changing the basis to what the land is worth would probably lower he taxes. The city fined him? Well the property must have been so worthless they didn't want it either since they made no attempt to collect or take the property.
I once owned a lot with no improvements on it and the property tax was $5 a year.
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Old 06-22-2018, 03:24 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,115 posts, read 3,411,881 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Only way is to tax them more, or force them to sell vs holding it? instead of city pass, why cant state bring it up, unless they have lobbiest paying them off too.
Sure, who is going to buy it?
No one else wanted it otherwise the city would have used the penalties to create a lien and sell them at a tax auction.
Do you have any understanding of how real estate investing works???
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Old 06-22-2018, 03:25 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,115 posts, read 3,411,881 times
Reputation: 5648
Quote:
Originally Posted by hitpausebutton2 View Post
Their was some a report a while back that their is alot of empty houses in areas and not being leased/rented out, and turns out they are just being bought to hide money, and only paying the local taxes on them. So instead of buying stock of a company, your buying homes in hopes of better returns, till then it just sits, empty.
Please cite your sources, In most cases the numbers don't make sense to do this
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