tipperzack6 t1_ja7w51t wrote on February 27, 2023 at 2:38 PM

Reply to comment by Top_Ad5385 in Who here owns residential and rents it out? thinking of buying a two-family in Rahway as it is getting very cute there. by [deleted]

Don't listen to them buy the property and rent it out. just don't hold off for higher rent get it rented as soon as possible. people's want places to live now.

Snownel t1_ja7x7a4 wrote on February 27, 2023 at 2:46 PM

The place is there now. It's for sale. Buying it and demanding passive income over and above the mortgage payment and maintenance doesn't magically increase housing inventory.

tipperzack6 t1_ja8f69b wrote on February 27, 2023 at 4:48 PM

The place is empty now, so no family is living their. So 2 family renters would decrease demand by 2 families.

Hey anyone can come and buy the property. A single family owner could buy it and make it a single family home for the next 30 years. That would reduce the housing stock by one.

The market and town wants someone in their now. Paying taxes and keeping upkeep. The faster the better

Snownel t1_ja8g60f wrote on February 27, 2023 at 4:54 PM

Are you being serious here? Have you looked at the housing market turnover in the past few years? Do you seriously think housing is just sitting around vacant and unsold, and the solution to that problem is landlords?

tipperzack6 t1_ja8oetp wrote on February 27, 2023 at 5:46 PM

The solution is buy whole single family blocks and knock them all down and build 5 story density 2-3 bedroom apartments. Do that till rent prices are 1000 average.

But that will never happen. A maybe possible solution is take single family homes and make them into double family. That could double the housing stock of an area within 6 to 10 months.