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The_Cawing_Chemist t1_j6owgyj wrote

Reply to comment by Kindly_Boysenberry_7 in Real Estate 101 - How to Tell a Bad Flip From a Good One by Kindly_Boysenberry_7

Is Richmond enough of a tourist destination for a significant amount of inventory to be gobbled up by those greedy STR investors?

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Kindly_Boysenberry_7 OP t1_j6oyxlr wrote

Yes. We have a problem Airbnb in my neighborhood. Turns out the owner is an out-of-town investor who owns 23 PROPERTIES in the City. That's one dude. Many of the properties are in what I consider the first time buyer price range. How do you feel about someone coming into the City and taking 20+ properties out of inventory for either homebuyers or year-round tenants?

Remember, before the huge rise in STRs over the last three years, most investor-owned properties would have been "normal" rentals.

ETA: Spelling

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