Because the Rent Won't Wait (apartment complex, property taxes, average, lawyer)
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All you need to do is buy an apartment building and become a landlord yourself. Then you can become a greedy landlord leeching off the backs of hardworking people too!
Okay, wise one. I've asked myself, How can poor people buy an apartment building and become a landlord themselves? How about 1,000 individuals pool $1,000 each, now they have $1 million for a down payment.
What exactly could a group of 1,000 individuals buy with a $1 million down payment?
freemkt
Not sure what Property Rules you are talking about? We have Zoning around here Then there are people that Sell Land & make up their own rules on Home size etc. But there is also Lots of Unrestricted Property out there for reasonable prices. You just have to look. IF they not in your area Look some where else. You can Flip Hamburgers Any where in the USA I know people that buy the land & live in camper while the build. Last year there was a Lady on the local Facebook sales sight begging people to give money to a Homeless couple. Turned out the Land they were camped on was Theirs! They were living in an old van while 100 yards away their new home was being built! They were noticed cause the guys they hire moved campers in to live while they Built the home! So everyone assumed the whole bunch was homeless.
You started this thread Did you get your answer? I know it went off topic a bit.
Okay, wise one. I've asked myself, How can poor people buy an apartment building and become a landlord themselves? How about 1,000 individuals pool $1,000 each, now they have $1 million for a down payment.
What exactly could a group of 1,000 individuals buy with a $1 million down payment?
IF you paying that much of your income in rent & each place you have Roomed at for the past 10 years is worse than the last place then YOU doing some thing Wrong. Most likely you picking City with Rental Beyond your means. My son Flipped hamburgers for 10 years & Managed to Buy a Home. Beautiful 3 bedroom 2 story house in the center of town walking distance to jobs.
freemkt
Not sure what Property Rules you are talking about? We have Zoning around here Then there are people that Sell Land & make up their own rules on Home size etc. But there is also Lots of Unrestricted Property out there for reasonable prices. You just have to look. IF they not in your area Look some where else. You can Flip Hamburgers Any where in the USA I know people that buy the land & live in camper while the build. Last year there was a Lady on the local Facebook sales sight begging people to give money to a Homeless couple. Turned out the Land they were camped on was Theirs! They were living in an old van while 100 yards away their new home was being built! They were noticed cause the guys they hire moved campers in to live while they Built the home! So everyone assumed the whole bunch was homeless.
You started this thread Did you get your answer? I know it went off topic a bit.
Minimum Lot size requirements put affordability our of reach for many. Since I have no car and no license to drive, all those unrestricted rural areas are no use to me.
Property rules are rigged to prevent poor people generally from buying themselves a place. Read your local zoning code and tell us how a poor person would buy their own place. The property rules enable landlords by ensuring a pool of people who cannot buy and therefore MUST rent or go homeless (which poses its own legal risks).
Oh please....a poor person can not buy because of bad choices they made in life and/or for the simple fact that they can not afford to buy. It has NOTHING to do with zoning laws.
Do you even Have a Building with 1000 apts in it in the area you live?
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