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Fucking leeches
(lemmy.dbzer0.com)
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this post was submitted on 08 Mar 2025
310 points (96.4% liked)
A Boring Dystopia
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Step one: Have a shitton of money to buy property to rent out.
Oh, you don't have enough money? Hhm, have you tried not being poor?
The meme specifies Mortgage which means they also don't have any money. They obtained a loan that they will be paying back for 15 to 30 years, at which point the property will deteriorate to a much lower value if any at all. If they sell the properties then they will owe depreciation recapture which works similar to a capital gains tax, as if it were additional income on top of the actual capital gains tax on the sale of the property itself. Plus closing costs to realtors.