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TopicLandlords provide housing
CommonJoe
02/15/21 7:27:36 PM
#163:


Hexenherz posted...
Arguably a person can afford multiple mortgages if they've got the initial capital and the time to put together leasing agreements with tenants (or they are willing to work with property management companies).

Go back and read what you originally proposed. If the bank "is coming after them", they cant afford their mortgage.

Hexenherz posted...
Also why would a person need to take out multiple mortgages to begin with?

Not everyone can just straight up buy multiple homes in cash. Unless youre extremely rich, you got a second house because you got a second loan to pay for it.

Hexenherz posted...
If I have to move because the military tells me to, I'm 100% renting my house out with the expectation that I will be able to move back into it in three years. That doesn't mean I'm taking out a second mortgage, but I definitely don't want to sell a house I've already lived in for five years.

Thats not even remotely congruent to the landlords in question, especially considering you in that specific situation the expectation would be made clear to the rentee that the house will not be their permanent residence, and is only available until you can live there.

Most landlords that we call parasites do not operate on that basis, as your house is not being rented as part of a business.

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