I’m curious as to why you buy these homes? Is it to buy land that can be sold at a profit later? Is it to rebuild the houses and sell for profit?
Short term might work, but it seem like incredibly high risk long term. What am I missing?
Since this is investment companies, they probably do the numbers and come up with a price that is so low they are sure they can flip it for more than that. The current owners maybe can’t afford repairs and are financially/emotionally desperate and in a bad negotiating position.
Probably these companies are making terrible offers to as many people as they can. I don’t live in Florida, but I’ve gotten letters that I assume are from companies like this trying to start a discussion about selling, I guess they are fishing with a very broad net for people willing to accept very low prices.
They better hope Aquaman is in the market for some new places
That is just balancing back to reality. A lot of houses down there should not have been built there in the first place.
This is awful for people affected, but we do sort of keep ignoring the fact that Florida isn’t forever. Do we want people to keep building their castles in the swamp? I wish it was the gubment buying them out and prohibiting residential zoning in some of these places, but here we are. Our country’s disdain for the public good has left our collective asses exposed to the whims of the almighty market.
Global climate change and rising sea levels were predicted more than 100 years ago, and specific warnings for low-lying areas like Florida have been given by scientists for decades.
But people, especially the ‘pull yourself by you bootstraps’ and ‘no gubmint handouts’ people, have conveniently believed politicians of a specific party and chose to invest in buying this property.
Why should these people be bailed out now? Why should they be rescued rather than the socioeconomically disadvantaged?
The system is working as intended.
Who is funding these “vultures”?
Vulture“Venture” Capitalists.
