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To: Georgia Girl 2

I personally know 3-4 people who buy houses with cash, they are in the property rental business, however, they will make 20-30 offers and hope to get ONE accepted. They will offer only 40-60% of market price in hopes that someone is in financial trouble and needs to sell. They will put some amount of money into the property fixing things, rent it for a 2-3 years and wait for long term capital gains to kick in and sell it for a profit....one of the guys routinely owns 30-50 houses at a time....


25 posted on 01/12/2019 1:59:13 PM PST by srmanuel
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To: srmanuel

This thing you’ve described is a common practice I’ve seen done. It’s not something that I would do, it’s morally wrong.


60 posted on 01/12/2019 3:00:53 PM PST by Bulwyf
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To: srmanuel

this if true would explain the flyers i see and absolve the chinese presuming the people you know are native born americans.


73 posted on 01/12/2019 3:21:06 PM PST by SteveH
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To: srmanuel

i wonder how these people get started. eg savings from their well paying day jobs over the years? inheritances? other (what?)?


74 posted on 01/12/2019 3:22:55 PM PST by SteveH
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