A startup is turning houses into corporations. The neighbors are fighting back

Startup buys houses where zoning doesn’t allow STRs or timeshares, creates LLCs to own houses, sells 1/8 shares in LLCs. Why does Silicon Valley always think that they can do end runs around local regulations with a new way to rip off the well off?

I just thought that folks would want to be aware of this possible competition.

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At the same time, the US has a horrible shortage of affordable housing. ::

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Because they (those with capital/credit Silicon Valley or elsewhere) usually get away with it.

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Today on a locals Facebook group page, a woman asked for recommendations for a real estate photographer for a home she was selling soon. She was quickly swarmed with requests for information & to see the home. It isn’t for sale yet.

A friend who is a realtor had a prospective client ask to see her place, which was a villa home exactly what the prospect wanted. Her place wasn’t staged, wasn’t on the market, old paint, etc. Prospective client walked in the door, made a cash offer on the spot, over market.

SOLD. To a new client. :wink: My area is booming and it’s insane.

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Similar situation: My dad moved from his 2br patio home to a 3 br home 4 doors down. All homes in his neighborhood are duplex or triplex patio homes (master br&ba on first floor) & nice neighborhood, convenient to shopping. Listed at 5:00, viewed at 7:00, cash offer well above asking by 9:00 that evening

Amazing.
Btw-the unplanned money above asking burned a hole in his pocket. He bought a new car. His prior car was 14 years old. I like this one is reliable

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To me the bigger red flag is how much they are charging for these houses… anyone can figure out that you are overpaying.

I’m not sure if you are going to have the advantages of a second home - being able to store your recreational equipment.