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Zillow to stop flipping homes, cuts 25% work force, loses $500M; desperately trying to sell 7000 houses it bought above market rate

godhandiscen

There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
As I posted, I bought my house in cash. Have dealt with cash since as I have tenants.

No loan, no mortage,
Damn dude, nice. I use debt as a tool, but I agree with you in a sense. I live frugally always thinking that whatever numbers I have in stocks/crypto don’t mean crap unless I transform them into cash. I never use debt to afford luxuries.
 
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Ionian

Member
Damn dude, nice. I use debt as a tool, but I agree with you in a sense. I live frugally always thinking that whatever numbers I have in stocks/crypto don’t mean crap unless I transform them into cash. I never use debt to afford luxuries.
More power to you bro! Just the way I did it.

Was a nightmare believe me but I pay nothing but for repairs for the tenants. Currently fighting with them to get a gardener out to fix the summer garden. Grows like crazy with sun. Happens every year.

Getting close to evicing them all and just moving in. You leave a tenant unchecked for too long, they think they own the place. I'm like Darth Vader dealing with tenants though.
 

StreetsofBeige

Gold Member
More power to you bro! Just the way I did it.

Was a nightmare believe me but I pay nothing but for repairs for the tenants. Currently fighting with them to get a gardener out to fix the summer garden. Grows like crazy with sun. Happens every year.

Getting close to evicing them all and just moving in. You leave a tenant unchecked for too long, they think they own the place. I'm like Darth Vader dealing with tenants though.
Good on you.

Bad tenants are the worst. My last one was a deadbeat who bolted middle of the night. I was Mr Nice Guy letting her stretch out payments later and later. She'd always eventually pay, then poof. Gone.

The one thing I'll never understand are renters who live like slobs. If one doesn't care about putting holes in the hole because they dont own it, thats bad enough. But being a dirty pig is weird because they are the ones living there for years. It's not like the landlord has a cleaning lady come in every day to mop up the crud. It's like they dont know what a sponge and bottle of Mr. Clean is.

That's renters for ya.
 

Ionian

Member
Good on you.

Bad tenants are the worst. My last one was a deadbeat who bolted middle of the night. I was Mr Nice Guy letting her stretch out payments later and later. She'd always eventually pay, then poof. Gone.

The one thing I'll never understand are renters who live like slobs. If one doesn't care about putting holes in the hole because they dont own it, thats bad enough. But being a dirty pig is weird because they are the ones living there for years. It's not like the landlord has a cleaning lady come in every day to mop up the crud. It's like they dont know what a sponge and bottle of Mr. Clean is.

That's renters for ya.

Most times it was the same, tell them to clean the bathroom, tiles, cooker, fridge.

They'd get offended.

I'd take my fee out of their deposit and they'd hate me. Somthing like 100 euro to do everything.

I remember one girl, I warned to clean. When I pulled the deposit she said she never even used the cooker. (was filthy). Told her it didn't get filthy by itself.
 

StreetsofBeige

Gold Member
Most times it was the same, tell them to clean the bathroom, tiles, cooker, fridge.

They'd get offended.

I'd take my fee out of their deposit and they'd hate me. Somthing like 100 euro to do everything.

I remember one girl, I warned to clean. When I pulled the deposit she said she never even used the cooker. (was filthy). Told her it didn't get filthy by itself.
The deadbeat who left, I told her to wipe the window sills every once in a while. As a new building, there's condensation for a bit as the building settles. I even bought a $200 dehumidifer to take out dampness just in case. I told her to turn on the machine and drain the bin and wipe the handful of condo window sills if it seems wet. As well as air out the place or turn on the bathroom fan.

When she left, I tossed out a ton of her shit, but she left the dehumidifier. Still in the fucking box. The window sills were filthy with dried water stains and a bit of mold that grew. She didnt clean them once.

Zero responsibility.

At least I got it back and she didnt sell it. Idiot.
 
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Ionian

Member
The deadbeat who left, I told her to wipe the window sills every once in a while. As a new building, there's condensation for a bit as the building settles. I even bought a $200 dehumidifer to take out dampness just in case. I told her to turn on the machine and drain the bin and wipe the handful of condo window sills if it seems wet. As well as air out the place or turn on the bathroom fan.

When she left, I tossed out a ton of her shit, but she left the dehumidifier. Still in the fucking box. The window sills were filthy with dried water stains and a bit of mold that grew. She didnt clean them once.

Zero responsibility.

At least I got it back and she didnt sell it. Idiot.

Oh I know well about that due to climate here.

Tell them, they smile and things rot. They don't care. Will do the minimum and you find out later.

Had a dude complain about his bed, said there was bugs in it. The thing was brand new, he brought the bugs in.

Paid for a replacement, Told him when he was moving out i'd give him 100 bucks as I'm decent person. He knocked on the door and asked for it, I had forgotten. And the Ivy, bloody hell, Ivy was growing into the neighbours garden. He complained the neighbours complained, rang me and I just told him to cut it. Bloody Ivy, not hard,

Tenants are responsible for the garden, end of story. Rang me on New Years eve and complained about water while the fireworks were going off. (Water shortages are seasonal here). I just said ok and hung up.
 

TheGrat1

Member
How does Zillow have so many properties under water?

The real estate markets are skyrocketing the past year, and even moreso compared to 2, 3, 5 years ago.

Zillow bought tons of homes just recently at bidding war prices?
Market corrections are inevitable. The bubble always bursts, bro.
 
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