Quote:
Originally Posted by Biggd
Many of the prime properties were bought by groups of investors with cash hoping to get the rental income and price appreciation. I know many of my son's friends bought into these real estate investment groups. We'll see how this all shakes out if prices drop and rentals slow down.
My son almost bought into one of these and I steered him away from them.
I took advice given to me by a smart uncle long ago and passed it on to him, "partners are for dancing"!
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There's a definite spectrum across the amount of time people will be renting a recently purchased place from 100% to 0%. The closer a buyer is to 100%, the more sensitive they are to market conditions.
My earlier posts were all around people with 0% rental time, and I think this group is growing as the lake becomes more expensive in general. Of course, I don't really know. We can see that fewer places are for sale than there were 10 years ago. But I wonder how the number of rental opportunities had changed?