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4 March 2020 | 22 replies
Bernie Sanders wants a 25% “house flipping” tax levied against investors who sell a property at a profit within five years of purchase.He also wants a 2 percent “empty homes tax” on the property value of vacant homes in order to discourage real estate investment.From Bernie's Website"When Bernie is president, he will:Create an office within the Department of Housing and Urban Development to coordinate and work with states and municipalities to strengthen rent control and tenant protections, implement fair and inclusive zoning ordinances, streamline review processes and direct funding where these changes are made.This office will convene key leaders, academics, experts, local officials, renters, tenants, and homeowners to create and implement these necessary solutions.Preempt laws that prevent inclusionary zoning for luxury developments.End exclusionary and restrictive zoning ordinances and replace them with zoning that encourages racial, economic, and disability integration that makes housing more affordable.Require that recipients of federal funding from the Department of Transportation and the Department of Housing and Urban Development make these important zoning reforms.Provide funding to states that preempt local exclusionary zoning ordinances to make housing more equitable, accessible and affordable for all.Make federal funding contingent on creating livable communities.Encourage zoning and development that promotes integration and access to public transportation to reduce commuting time, congestion and long car commutes.Prioritize projects that reduce greenhouse gas emissions, create walkable and livable communities, and reduce urban sprawl.Encourage zoning and development designed to expand and maximize the number of units fully accessible to people with disabilities.Place a 25 percent House Flipping tax on speculators who sell a non-owner-occupied property, if sold for more than it was purchased within 5 years of purchase.Impose a 2 percent Empty Homes tax on the property value of vacant, owned homes to bring more units into the market and curb the use of housing as speculative investment.Encourage “circuit breakers” on property taxes to protect homeowners in gentrifying neighborhoods from being priced out of their own homes as their property values rise.READ MORE: https://berniesanders.com/issues/housing-all/From my point of view, anything that impedes or obstructs REI's cash flow is a bad thing.
4 March 2020 | 4 replies
That said, here's some things to think about (i.e. what keeps me up at night)...In downturns people lose jobs, that could mean increased vacancies or below market rents to keep the property occupied.
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8 March 2020 | 22 replies
if one is military...if one holds 10 properties , can one use VA to buy no.11 and get financed by a normal bank owner occupy ?
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18 March 2020 | 4 replies
One thing to keep in mind is if it was in my area a homeowner can act as there own general contractor only if they plan to owner occupy for at least the next 18 months.
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3 March 2020 | 0 replies
We have negotiated that the seller must purchase the remaining (12) owner occupied units and dissolve the HOA before we close.
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5 March 2020 | 13 replies
Our first two were owner-occupied duplexes so they used conventional financing (at preferential interest rates).
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5 March 2020 | 3 replies
I currently own one home that I’m house hacking, and want to continue to pick up homes with owner occupied financing as time and money permits, but also want to get into bigger deals with more units.Thank you
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11 March 2020 | 18 replies
I don't like the idea of needing to replace a roof for a tenant occupied property at a time when hundreds of other properties are trying to get theirs done at the same time.
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11 May 2020 | 10 replies
Some of my investor clients are also buying Single Family Homes as owner occupys that have a mother-in-law apartments.
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7 March 2020 | 15 replies
Good luck with your purchase, should be easy to keep it occupied.