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I still don't understand why they don't want the rent money on those properties.
by peterjancelis 12y ago
I still don't understand why they don't want the rent money on those properties.
- danans 12y agoIt's possible that they are so wealthy that their income from other sources far outswamps whatever rent they would accrue from the properties, so it's not worth the inconvenience of renting them out. Remember, many of these properties are purchased outright (no loan) and held as long term investments.
- eps 12y agoBecause they also flip these properties on regular basis (anywhere from 3 to 24 months) and it's significantly harder to do that with people living in.
- canekong 12y agoIt's an inside job thing. These people basically trade within themselves to prop up the property price.