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SVTPerformance's Chain of Restaurants
Road Side Pub
Time for a rant...super frustrated with trying to find a house to buy
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<blockquote data-quote="Kevins89notch" data-source="post: 16423773" data-attributes="member: 31255"><p>Yeah, I agree. I'm seeing homes get listed today that are asking 40, 60K over what they sold for 2 years ago. The owner can easily bail on any/all of their properties and not "lose" money, but they will lost their whole income.</p><p></p><p>______________________</p><p><a href="https://www.bloomberg.com/opinion/articles/2020-04-17/coronavirus-how-much-can-airbnb-damage-the-mortgage-market" target="_blank">How Much Can Airbnb Damage the Mortgage Market?</a></p><p></p><p></p><p>The anecdotes on social media immediately spread like wildfire. Many centered on the idea that so-called “superhosts” — those who consistently meet certain thresholds including near-perfect ratings, a large number of bookings and infrequent cancellations — have taken out mortgages on several properties, banking on Airbnb income to cover those payments. Now with little to no cash flow, they’ll soon default on those mortgages, the thinking goes. In large enough numbers, that would bring about a reckoning.</p><p></p><p>This is a compelling narrative. After all, a quick online search reveals <a href="https://millennialmoney.com/making-money-airbnb/" target="_blank">articles</a> such as “HOW TO MAKE MONEY WITH AIRBNB (OVER $10,000 PER MONTH!),” which comes from a millennial Ohio State graduate who lives in Los Angeles and manages nine listings in Columbus. It includes advice such as “by leveraging your debt capacity, you will be able to effectively invest more money than you would otherwise be able to.”</p></blockquote><p></p>
[QUOTE="Kevins89notch, post: 16423773, member: 31255"] Yeah, I agree. I'm seeing homes get listed today that are asking 40, 60K over what they sold for 2 years ago. The owner can easily bail on any/all of their properties and not "lose" money, but they will lost their whole income. ______________________ [URL="https://www.bloomberg.com/opinion/articles/2020-04-17/coronavirus-how-much-can-airbnb-damage-the-mortgage-market"]How Much Can Airbnb Damage the Mortgage Market?[/URL] The anecdotes on social media immediately spread like wildfire. Many centered on the idea that so-called “superhosts” — those who consistently meet certain thresholds including near-perfect ratings, a large number of bookings and infrequent cancellations — have taken out mortgages on several properties, banking on Airbnb income to cover those payments. Now with little to no cash flow, they’ll soon default on those mortgages, the thinking goes. In large enough numbers, that would bring about a reckoning. This is a compelling narrative. After all, a quick online search reveals [URL='https://millennialmoney.com/making-money-airbnb/']articles[/URL] such as “HOW TO MAKE MONEY WITH AIRBNB (OVER $10,000 PER MONTH!),” which comes from a millennial Ohio State graduate who lives in Los Angeles and manages nine listings in Columbus. It includes advice such as “by leveraging your debt capacity, you will be able to effectively invest more money than you would otherwise be able to.” [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Time for a rant...super frustrated with trying to find a house to buy
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