The Picard Maneuver@lemmy.world to Microblog Memes@lemmy.worldEnglish · 10 months agoWhat would you have done?lemmy.worldimagemessage-square24linkfedilinkarrow-up11
arrow-up11imageWhat would you have done?lemmy.worldThe Picard Maneuver@lemmy.world to Microblog Memes@lemmy.worldEnglish · 10 months agomessage-square24linkfedilink
minus-squareIlovethebomb@sh.itjust.workslinkfedilinkEnglisharrow-up0·10 months agohttps://simple.m.wikipedia.org/wiki/Renovation
minus-squareCethin@lemmy.ziplinkfedilinkEnglisharrow-up0·10 months agoNo, a lot are vacant because they’re purchased as “investments” and just sit there empty. No work is being done on them.
minus-squareIlovethebomb@sh.itjust.workslinkfedilinkEnglisharrow-up0·10 months agoPaying rates, insurance, taxes, and maintenance on an empty property isn’t an investment, it’s a liability. This is almost certainly a myth, and I don’t know why so many people believe it.
minus-squaresupamanc@lemmy.worldlinkfedilinkEnglisharrow-up1·10 months agoBecause when you sit on that property for 3 - 5 yrs, doing thenbare minimum to keep it functioning, you can then sell it for 20-30% more. You don’t have to anything.
https://simple.m.wikipedia.org/wiki/Renovation
No, a lot are vacant because they’re purchased as “investments” and just sit there empty. No work is being done on them.
Paying rates, insurance, taxes, and maintenance on an empty property isn’t an investment, it’s a liability.
This is almost certainly a myth, and I don’t know why so many people believe it.
Because when you sit on that property for 3 - 5 yrs, doing thenbare minimum to keep it functioning, you can then sell it for 20-30% more. You don’t have to anything.