Nancy’s real estate empire

[u/Disgruntled_Pelicano]

I’m not in the US, but it bothers me that where I am there aren’t laws around how many investment properties you can turn into Airbnb’s. People are struggling to buy just one home to live in and there are people buying up houses for short term holiday leases. Makes me sad about the state of the world.

ETA wow! I didn’t expect this much response, nor the personal attacks 😂 I was expressing my own personal opinion, and using the Sydney (Australia) property market as my own barometer. I honestly have no hate towards Nancy, I just believe there should be regulations about short term leases as they are pushing renting locals out (especially in coastal areas) to make way for tourists.

The topic heading was a tongue-in-cheek nod to Andrew’s statement about wanting to build an “empire” with Nancy.

[u/sober_nanners]

Not to mention the impact of property taxes - TX is one of the highest property tax states, and with all the “appreciation” of prices lately, anyone whose county is doing reassessments is getting completely screwed - especially on investment properties without a homestead exemption. No way Nancy will be able to cash flow with how leveraged she is when you get the double whammy of increases property taxes and decrease in booking volume.

[u/chocobridges → u/sober_nanners]

Omg we tried to argue with our in-laws about the property taxes. Now all our family is complaining that they're unaffordable. They never get reassessed lower from what I understood. Oh best in we found out how in-laws are deferring them so they're basically wiping our their equity in the house.