Comments by "Matthew Phillips" (@matthewphillips5483) on "Predatory Home Purchasing (Institutional Investors)" video.

  1.  @Thatguy-mo8jd  This has to be the worst take I have read in a while. Are you a VP at Blackrock?
    5
  2. 100% agree. I used to blame "investors" until I realized that the mom and pop investor isnt the problem. They already have to qualify for future loans at criteria that is more difficult than the first time homebuyer. But who can complete with the endless cash of an institutional investor like Invitation Homes?
    5
  3. I had made an offer on a starter home for $250k (listing price) of the seller. They rejected the offer and listed their property as "cash only" and, a couple of days later, went under contract. They ended up selling to all cash buyer for $220k. Nothing I could have done in prep could have changed the outcome (aside from saving $220k cash which is beyond my scope for at least a decade.)
    3
  4. lol. The whole "bootstrap" myth. Here is an idea. Give away all of your wealth, quit your job/career, and start completely fresh with nothing. Then rebuild from nothing in the current climate and document your process. Once you are on top again, then you can tell us all how it is done.
    3
  5.  @jessicabixler1658  No LLC or corporations. Partnership or sole proprietor only.
    1
  6. Nothing wrong with this but zoning and building codes make it near impossible for people to build their own homes anymore. Even if they do, the permit fees/inspections can wipe you out.
    1
  7. So if this is most of what is available in an area, people should be homeless in protest?
    1
  8. George, you are not very bright, my dude. I bet most responsible poor people save a larger share of their "discretionary income" (income above the poverty line) than you. But they still cannot complete with crony capitalism and institutional investors. You sound completely out of touch. You might possibly be privileged too.
    1
  9. Rent control for institutional investors would actually be a great idea. It would be a way for tenants and individual investors to see eye to eye which will increase the political will. Just like large employers get more responsibility than small employers, large investment firms (> 5 rental houses) should get increased rules and regulations.
    1
  10. Is this post a joke? People "preying on the institutions?" This cannot be a legit post. Boy, you trollin?
    1
  11. Wrong.
    1
  12. This is by design. It isn't the fault on young people. Corporations love "service based" entertainment as it keeps people on the hook. You can't even purchase Adobe software anymore. You can only license a subscription to it.
    1
  13.  @erasmolopez5216  My mistake.
    1
  14. There is a world of difference between expecting people to have good credit, save money, and low/no debt vs expecting the average person to be able to buy a house in cash with these inflated prices.
    1
  15. This was true but Invitation Homes changed all of that. They have had a frightening amount of success managing properties in the areas they have entered. They have the infrastructure to pull it off, and they bought in 2012/13 for pennies on the dollar. I rented with them once and they bought the place for $167k and the place is now valued at $500k. The govt. needs to bring them down.
    1
  16. Zoning does need to change in some areas. Around my area, you have to build > 1,500 sq ft home. Why though? Why does a home need to be larger than 1,500 sq ft to be built? The size has nothing to do with the structural integrity. It is NIMBYs who influence the local authorities on that. They want to stifle building to keep their property values high.
    1
  17.  @nasimagdam2723  Industry of what though?
    1
  18.  @nasimagdam2723  I am fine with ending that industry if it means expanded opportunities for the American Dream. The sad thing is people who pursue the American Dream want those opportunities but, once they get them, they want to pull the ladder up on future generations and buy up properties to rent them to others. It is evil and hypocritical.
    1
  19. Wrong. The free market isnt free and the wealthy have already figured out how to game the current system.
    1
  20. Try again. Companies like Invitation Homes have been touting growth of 20+%. You can stop shilling for institutional investors now.
    1