I think you have to request permission to sublet along with many details to controlling entity and there is a cap on the sublet amount.
Point is, it’s transparent and all parties and terms are accounted for.
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I think you have to request permission to sublet along with many details to controlling entity and there is a cap on the sublet amount.
Point is, it’s transparent and all parties and terms are accounted for.
Sent from my iPhone using TGR Forums
NYC rent control is an odd beast. Had a buddy from college that scored a rent controlled apartment in the mid-90’s. A few years ago he negotiated with the owner to give it up. He got every penny he ever paid in rent for 25 years plus a couple hundred thousand to walk away.
So you've never been that impressed by a ski area you've never skied?Quote:
Originally Posted by TAFKALVS
Yeah - I'm gonna go out on a limb and say you're missing something...
:D
There are a couple of myths about Jackson. One, that everyone is rich, and two, that everyone skis. It’s not true, far more people don’t ski here than do, in my observations.
As far as a guide ‘expecting’ a luxury rental, well, it’s more a matter of ANY rental, TBH.
It’s not like there are any vacancies anywhere for much less, even in Teton Valley or Hoback. Possibly in Alpine?
(Especially if you haven’t lived here forever, that changes opportunities a little, but not by much).
I’m sure the skiing is great. It’s definitely one of the rowdiest and cool places to ski in North America, no doubt.Quote:
Originally Posted by skaredshtles
I’m talking about the full package of living there from a services/quality of life/access to things/climate and weather/not living with a bunch of rad bros and tourists.
Heh. That's a can of worms.Quote:
Originally Posted by TAFKALVS
But the skiing is great... when the skiing is great. :D
All I’m saying is I was a remote worker wanting to spend $4k a month on bedroom - and it’s all about the skiing I’d be eyeballing somewhere in Europe or maybe somewhere interior BC, not Jackson.Quote:
Originally Posted by skaredshtles
What if you have to stay in the US? Genuinely curious, not trolling.Quote:
Originally Posted by TAFKALVS
Heh - I'm almost CERTAIN that staying in Europe would be WAY cheaper than Jackson.Quote:
Originally Posted by TAFKALVS
And nobody is likely to argue with your point above.
If *I* was in this situation, I'd probably head for Taos and then PRAY to the almighty FSM that it snowed. :DQuote:
Originally Posted by snowaddict91
Vancouver has entered the chatQuote:
Originally Posted by Skistack
Must be people who really hate driving the Pass or maybe it's just the prestige factor of Wilson. There's 3 bedroom condos at $2300-3000 on the other side.Quote:
Originally Posted by TAFKALVS
Probably TGR interns.
Fair enough. I've spent enough of my life in the San Juans and CB that I'd go somewhere that it was actually likely to snow [emoji23]Quote:
Originally Posted by skaredshtles
But here I am, working remote and living in the desert, so what do I know?
Yeah - but those places are already way too crowded. :DQuote:
Originally Posted by snowaddict91
My buddy that works for Poma had to find housing for himself and his crew and it sounded like it was the biggest crux of the entire Snow King project. Even last summer building the new lift in Aspen was nothing in comparison.Quote:
Originally Posted by rideit
We all get understand what you and I would do. I'm trying to tell you it's presumptuous to think all remote workers even want to ski. A stereotypical one works 60 hours for Facebook and then enjoy their weekends in a beautiful location. Rent is affordable for them at $4k. You say you are in a remote workplace, you gotta understand how it works in big tech, right? Fucking never ending zoom calls back to back for some of these guys, then at 5pm they finally get their work done. Sounds like some never saw the place before signing the fake lease and got screwed though.Quote:
Originally Posted by TAFKALVS
I'd hope these workers all would like to ski, snowshoe or something outside though as that's one fucking cold town to live in. Summer seems more doable. Or maybe they are clueless dirtbags but it's doubtful.
I've never heard of institutional investors buying up inventory and purposefully keeping it vacant. Doesn't make sense to me either. What I so see happening is institutional investors buying up inventory, maybe do some "renovations", call them "luxury rentals" and then jack up rents as high as possible. They don't seem to need to withhold inventory to accomplish that. We are already short on inventory here. What they are doing is taking away from homes available for sale which also drives up prices in the for-sale market.Quote:
Originally Posted by californiagrown
I have seen private investors hold vacant properties. Mid 2000s I worked for a company in Vancouver that built high rise condos. We would have buyers from China come in and buy entire floors of condos in new buildings. Other developers saw this as well. These buyers wouldn't live in them, and wouldn't rent them out. They just wanted to get money out of China and the property values were appreciating so fast they DGAF about rental income. That is not a typical issue for most cities however and BC has tried to deal with it by implementing taxes on vacant units and foreign ownership.
I agree with the above, but I will say the door slammed shut for anyone without a significantly large bankroll to get in a while ago, so the poors are rotating out pretty quickly.Quote:
Originally Posted by rideit
The lack of skiing though is pervasive. Even the "skiers" maybe hit the Vill only when it really dumps, but hardly more than 10-15 days a year. I averaged 60-75 days the last ten years I was living there as a working stiff and I was by far the most prolific skier compared to any of my co-workers (even the business owners) during that stretch. Not sure if they still post the 100 day list, but I was always surprised by how short it was even back when I was hitting that milestone as a young buck 24 year old server.
That all said, I am a bit surprised the News and Guide just glosses right the fuck over the actual property owners asked for and got 12.5k a month for a run of the mill (relatively speaking) family house in Wilson. Even in Jackson not that long ago that would have elicited at least some snark in the reporting.
My sister was into banking compliance at one of the big 5 canuck banks in Vangroovy, she said billions came out of China and it was easy to figure out by just running a report to see who violated the lawsQuote:
Originally Posted by Ted Striker
so the people who stole that money bought RE with it, they didnt care what they paid or if was rented or whatever cause it wasn't their money but the idea was to get it out of china to somewhere safe
she said Compliance was the only bank dept with any growth, she had started as a teller got in compliance on the bottom and was telling lawyers what to do by the end
she said to also google Hawala banking
Just a run of the mill five bedroom house with multiple bonus rooms. All relative for sure.Quote:
Originally Posted by AdironRider
https://bloximages.newyork1.vip.town...size=990%2C664
Years ago I came up with a business plan with a Chinese co-worker: property management for those kinds of offshore owners with Chinese speaking support staff for the owners. Even if they bought the real estate with shady funds, why turn down a few thousand dollars a month deposited in a Canadian or US account that you can draw on when you're in those countries? Our theory was that it was just too much of a PITA for someone in China who doesn't speak english to deal with finding property management services. We then got too busy with our day jobs to ever do anything about it, but I still think it was a worthwhile idea.Quote:
Originally Posted by XXX-er
The skiing in Jackson is good, but it isn't "pay $4000 per month the live in squalor and share a bathroom with 5 other people" good.
I understand the demand from the wealthy and high income to use Jackson as a tax haven. I understand the demand of ski bums of the 70s, 80s, 90s and early 2000s to live the dream in Jackson before it blew up.
I do not understand the demand from youngish people today trying to move to Jackson to work shitty jobs and live in shitholes, especially from those that are beyond their early 20s.
Being 31 and living in a house with 9 other people in order to live in Wilson is a fucking nightmare. Like, what are you even thinking at that point?
Different strokes I guess but I'm with ya. To me, if you want to capture the spirit of what the 70s hippy bums did, find a shithole town or plant a shack A frame someplace adjacent to backcountry terrain and get after it. Turn-key resort skiing is for people with resources not people with energy, youth and time to build the culture/vibe. But, for sure, finding affordable side-country land ain't what it used to be so gotta concede the pickins are slim. I still think there's some juice to squeeze and I'm sure someone is doing it right now.Quote:
Originally Posted by Kevo
If that is where a person is at, regardless of location, they either made horrible choices in life, are fuckin stoopid or both.Quote:
Originally Posted by Kevo
It's also a pretty pathetic grift for someone with a Wharton MBA. With a little more moxie she could have scammed her way to the White House. I'm sure her classmates are looting pension funds of tens or hundreds of millions of dollars, and she's subleasing rooms to cover her rent?
Because for really rich people that's an insanely small amount of money to care about?Quote:
Originally Posted by dan_pdx
I'm just speculating about the kind of people who can buy multi-million dollar houses and condos and let them sit vacant and what those people are like, but I imagine you don't get filthy rich by turning your nose up at money, even if it's chump change relative to your total assets.Quote:
Originally Posted by muted reborn
The article says Tramm didn't tell them there was going to be 9 people in the house. They all found out after signing the lease.Quote:
Originally Posted by Kevo
But Jackson.Quote:
Originally Posted by dan_pdx
You kinda wonder how she described the mudroom with a curtain to make a bedroom.Quote:
Originally Posted by muted reborn
Quote:
Originally Posted by dan_pdx
I don't know what to tell you then. They are spending their time getting millions, not thousands.
Personally, they absolutely would turn their noses up at a little extra income if it inconveniences them. The convenience of being able to visit on a moments notice is worth the opportunity cost of no rental income. Think the type of person who flys netjets instead of first class commercial.Quote:
Originally Posted by dan_pdx
As a business though, fuck yeah they are renting it out. They are squeezing every dime out of those properties and reinvesting that income. Leveraging the assests they (or their family) owns is how they built so much of their wealth.
Yeah, I'm not talking about the family vacation property in Vail, I agree people will leave those vacant. I'm talking about the "I bought this condo in Vancouver to launder money/get it offshore" crowd. I understand a lot of properties in Vancouver where the owners are offshore are vacant, but I hypothesize they'd like to rent them out if it was less hassle.Quote:
Originally Posted by californiagrown
When you are just stashing money from the chinese/russian govt so they dont find out about it, its probably not a great idea to have traceable income from that stash. And in Canada and the USA you kind of have to do things above board, which means traceable. So its a risk vs income calculation, not a convinience vs income calculation.Quote:
Originally Posted by dan_pdx
I'll accept that as a theory, but is that income any easier to trace than the ownership of the real estate? It's just some Cayman shell corp either way, right?Quote:
Originally Posted by californiagrown
New Bill may ban Hedge Funds from owning SFR.
https://www.housingwire.com/articles...ousing-market/
Man, the uplifting part of the story is that there are still people willing to live in an attic or a mudroom to live the dream. Like maybe the ski bum isn't dead...
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^^^It may not be dead, but @ $2200/mo for said mudroom, it requires a trust fund.
Zero chance of either bill going anywhere.Quote:
Originally Posted by mud
And if something like this did ever pass, the wizards of finance would figure out how to game it…
I'm just outside of Wilson now I'll head over there tomorrow am looking for a room to rent
I'm looking to pay 6 grand a month for the old tool shed out back