this post was submitted on 03 Jun 2026
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shit, i would have thought the 6% kicker represented avoided interest on the loan he took to buy the unit, assuming he's putting the extra revenue from raised rent toward principal.
one of the shitty things about "real estate investors" is that they leverage their existing assets to borrow more money to buy more property and some are real aggressive, so they get into trouble and "have" to put off repairs, raise rents, and generally fuck their tenants even harder when they get into cash flow trouble.
all of it serving to push housing further out of reach, make it worse, and get already rich people paid more and more of soing less.