Posted on 06/13/2021 11:57:39 AM PDT by Hojczyk
Isn’t that just an old exorcist saying?
Hedge funds competing with the Chinese competing with folks fleeing democrat hellhole states FOR Florida. I got five calls yesterday asking if I wanted to sell one or both of my homes...(neither is on the market)
https://en.wikipedia.org/wiki/BlackRock
BlackRock, Inc. is an American multinational investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $8.67 trillion in assets under management as of January 2021.[citation needed][6] BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.[7]
https://en.wikipedia.org/wiki/Blackwater_(company)
Academi is an American private military company founded in 1997 by former Navy SEAL officer Erik Prince[2][3] as Blackwater, renamed as Xe Services in 2009 and known as Academi since 2011 after the company was acquired by a group of private investors.
PERUSE LATER!
Ah, thank you.
Wonder what happens to properties with no rentals allowed in Hoa rules?
But wait, there’s more
https://en.wikipedia.org/wiki/BlackRock#Public_perception
BlackRock is the largest investor in weapon manufacturers through its iShares U.S. Aerospace and Defense ETF
And as someone already said, You Will Own Nothing & Be Happy
How many chinese people own homes? The Globalists/Left wants chinese style communism. Soros has said that.
I’ll be damned. That’s something. And this real estate stuff is nothing more than a form of Blockbusting, but in reverse. You watch who they rent/sell to, and at deflated prices no doubt. I’d boogie if they were buying in my neighborhood.
bmp
As with everything..... it depends on the state you are in. We don’t have any problems either. Oklahoma
...In addition, government rules require those who own numerous properties to reserve a percentage for federally subsidized low-income renters, thereby forcibly injecting into communities people whose behavior generally is far worse than those of their neighbors, since nowadays poverty and antisocial behavior is correlated in the United States.
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Just great. Make housing unaffordable for the middle class and destroy the existing middle class neighborhoods.
Here how they pulled that off in Chicago’
Todays Democrats weren’t happy with Dan Lipinski’s funding votes against abortion and on being the only congressional democrat to vote NO to a House Bill similar to what Harris proposed on allowing men to to call themselves women and compete with women in college sports.
And in the reshaped 3rd Congressional district Daniel Lipinski lost because of redistricting. Of a district which had previously included adjacent Chicago city wards to his 23rd in his original 5th.congressional district
That was a district in the 1950’known as the 5th which was a part of the third largest school district in the country run by the Catholic Archdiocese of Chicago. Those city wards were predominatly composed of dozens of traditional value family oriented Catholic/Christian communities centered around churches and their schools. Hence opposed to funding such things as abortion and LGBT activities rather that dealt exclusively with city issues such as a subway L service and the Stevenson Expressway. These Wards were reliable supporters of Dan’s father, William O Lipinski. But where many had areas with hispanic last names those areas were redistricted and assigned to the Louis Gutieriez’s district. Where areas where buildings were abandoned affected by the no money down home mortgages or had changed because of this.
A ward such as the 14th run for 50 years by Edmund Burke now under corruption charges was remapped to include portions of other wards mainly the 23rd. Those results are posted below which actually tear up the concept of a neighborhood and pit people against each other by using division.In some of those wards areas of city blocks which were zoned exclusively for single family dwellings residents suddenly found their neighborhood having houses torn down and being replaced with multiple apartments with the units not required to furnish parking facilities and many renters were illegals. Much of which fit the plans for the suburbs
http://www.freerepublic.com/focus/f-news/3881650/posts
http://www.theusmat.com/mdwbea.htm
I am old enough to remember the late 1980s/early 1990s when hapless Americans were being bought out by smart Japanese real estate investors, with lots of money.
Somehow, the way it worked out in reality was that the hapless Americans plundered the "smart" Japanese by selling high and buying back low when real estate crashed right after that.
Overpaying for an asset never works out well for the buyer.
Normally I would agree with your statement, but in this case, I don’t see it that way....
Blackrock is not a stupid asset manager, section 8 has a tendency to drive the price housing down unless they are properly maintained.....
Blackrock is paying 20-50% over asking price for homes, if they convert them to Section 8 and their value plummets how is Blackrock going to make any money in that situation...
Will Blackrock buy the houses outright or take out mortgages on them ??
Will the rental income cover the cost of servicing the mortgages considering Blackrock is paying premium prices for the homes...
Something about this is not adding up to me, I know private investors that are in this business and own a couple of dozen homes...they usually buy homes in distress, put in some degree of money to fix them up, rent them for 2-3 years depending on what the capital gains rules are at the time and then sell them for big profits....
Usually they are only paying 30-50 cents on the dollar for a house...I’m aware of a situation with a close friend, where their house was worth probably 175k but needed around 30k in repairs ....any investor that was contacted only was offering 70-90k for the house, who then would spend the 30k fixing it up and then be 100-120k into the house, rent it for 2-3 years to qualify for a lower capital gains tax, then sell the house for 175k or more, making a really nice profit on the house....
Blackrock is not doing this, I have no idea how it will work out....
FTA: Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $8.67 trillion in assets
They sure grew very very fast. Where did they get the money?
Either way, they have a huge infrastructure problem.
Even flipping is going to take a lot of hands-on time prepping for sale, managing the broker process, negotiations re: sales price, and the closing.
And rental. Don't even ask.
Building a system of people to manage and maintain a huge stable of rental homes is a big deal. Just turning the process over to top local management firms is an infrastructure headache because someone has to negotiate the contracts and then audit the ongoing performance. And hiring out the management of rental pool to an external operation eats up a huge amount of the potential profit and might even push the P & L down into a loss.
That said, putting together ETF's of hard assets like houses is going to be a monster of a problem.
It's potentially doable, but what a huge amount of work.
What they would do (if this is what they are going to do with houses) is buy a huge amount of houses and then lump them into either a single large fund or a bunch of smaller funds defined by geography/market, size, or dollar value.
They would sell shares to that fund(s) to individual investors or to large institutional investors. In fact, they probably already have some large institutional investors lined up to fund the roll-out process.
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