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Scalping Rule ☭
(midwest.social)
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this post was submitted on 08 Feb 2024
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You can't just buy a house and sell it for a higher price. You are either flipping it to raise its value which is a lot of work or sitting and holding the house and waiting for it to appreciate. Product scalpers don't have to-do either, nor do they have to pay interest on the loan like they would a mortgage.
Product scalpers rely on sudden bulk purchase of a limited supply batch of products. Unless you're a mega millionaire you can't do that with housing. So I don't think you should consider it unethical to buy a second home and rent out. It is a valid source of income.
>:(!!!!Might be the first person to express that opinion here. Usually you’re not allowed to be a cop, landlord, or employer.
You can absolutely buy a house and sell it for a higher price, and do nothing to it or very minimal modifications. I work in the title industry and see it literally every day. LLC or trust buys house with cash, turns around and sells house a couple weeks later for like $100,000 more, while doing nothing to it or very minimal repairs or aesthetic/curb appeal changes.
Pretty much no one actually means people that rent out a single house with this.
When there are enough vacant houses to give every homeless person a home that only stay vacant because some shitty corp decided to gamble with the housing market, with the government doing nothing to prevent this and being too incompetent to provide more than a fraction of the apartments they promised, one would assume that people wouldn't build strawmen to make themselves feel better but actually for once take action against the people ruling our lives.