First sign of cracks in the mega-landlord model

From Bloomberg:

Blackstone Selling 1,300 Atlanta Houses in Strategy Shift

Blackstone Group LP’s Invitation Homes, after spending more than $9 billion in a U.S. property-buying spree, is starting to sell some houses as it shifts focus from rapid expansion to fine-tuning its holdings.

The housing landlord has agreed to sell about 1,300 Atlanta-area residences that don’t fit its strategy, which targets communities with higher rents and quality schools, according to Chief Executive Officer John Bartling. The transaction would be the biggest bulk sale for the 3-year-old company, the largest U.S. owner of single-family homes.

“It’s that stage in our lives where we’re now in a position of looking at dispositions as an active part of portfolio balance,” Bartling said in an interview. “You should expect us to sell 5 percent of our portfolio every year.”

Blackstone led private equity firms, hedge funds and other large investors in buying thousands of houses after the real estate crash, creating a new asset class of single-family rentals. With the market recovering, landlords are seeking ways to increase profitability by raising rents and making operations more efficient. For Invitation Homes, paring its portfolio may also help it in preparation for a potential initial public offering, which Blackstone has said it could be ready for in the next two years.

Most of the Atlanta houses in the sale are worth less than the average Blackstone-owned home. Lower-value properties tend to have higher vacancy, turnover and capital spending rates, according to Brian Grow, managing director in the credit-ratings unit of Morningstar Inc.

“The lower-value properties are much higher touch,” Grow said. “If you own a huge portfolio nationwide and you want consistency on how you manage the properties and you don’t want as high touch, I think the higher-value properties can be beneficial.”

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87 Responses to First sign of cracks in the mega-landlord model

  1. grim says:

    Someone should let them know that the difference between high touch and low touch is the tenant, not the property.

  2. grim says:

    From the Record:

    N.J. courts brace for housing lawsuits

    In what some legal experts are calling a watershed moment in the decades-long battle over affordable housing in New Jersey, courts across the state are bracing for a potential onslaught of lawsuits from builders and property owners seeking to force municipalities to accept housing developments for low- and moderate-income residents.

    For the first time in almost 30 years, builders can go directly to the courts, rather than a state agency long criticized as a bureaucratic black hole, to challenge local building restrictions if towns have not shown that they meet state quotas for affordable housing.

    “It’s a very big deal,” said Lori Grifa, a Hackensack-based lawyer and former chairwoman of the New Jersey Council on Affordable Housing. “The courts will be very busy this summer.”

    The Christie administration in 2011 tried to disband the Council on Affordable Housing, which for decades oversaw how municipalities regulated low-income development, calling it ineffective. But in March, the state Supreme Court ruled that affordable housing must be regulated and put judges in charge of setting rules and giving guidance to towns on how many low-cost housing units they should build.

    The ruling was delayed for 90 days to allow towns and housing developers, as well as the courts, time to set up a system to handle the potential litigation. It then provided towns a 30-day grace period — starting June 8 — to initiate claims showing that they already have enough affordable housing and should be considered immune from builders’ lawsuits.

    After that, towns that have not filed anything with the courts could be sued.

  3. grim says:

    Yep, Pennsylvania.

    From News 21:

    Man found naked, drunk inside hog barn

    A Lancaster County man has been charged after he was found naked in a hog barn, where he was previously banned, police say.

    Manor Township police said 65-year-old Larry William Henry was found nude, and intoxicated, while inside the hog barn on Coffee Street Road just after 10 p.m. on June 26.

    According to court paperwork, Henry told arresting officers “I just like pigs,” when asked why he was there. Henry also admitted to drinking a six-pack of Hamm’s beer, according to court paperwork.

    Court paperwork stated Henry wasn’t permitted on the farm after he was found trespassing there in 2011.

  4. D-FENS says:

    Too big to jail

    In the latest sign of the revolving door between Wall Street and Washington, recently retired U.S. Attorney General Eric Holder is returning home — to the corporate law firm Covington & Burling, where he worked for eight years before becoming head of the Justice Department. During his time at Covington, Holder’s clients included UBS and the fruit giant Chiquita. The law firm’s client list has included many of the big banks Holder failed to criminally prosecute as attorney general for their role in the financial crisis, including Bank of America, JPMorgan Chase, Wells Fargo and Citigroup. We speak with Matt Taibbi, award-winning journalist with Rolling Stone magazine. “I think this is probably the single biggest example of the revolving door that we’ve ever had,” Taibbi says.

    JUAN GONZÁLEZ: We turn now to the latest sign of the revolving door between Wall Street and Washington. Recently retired U.S. Attorney General Eric Holder is returning home—to the corporate law firm Covington & Burling, where he worked for eight years before becoming head of the Justice Department. During his time at Covington, Holder’s clients included UBS and the fruit giant Chiquita. The law firm’s client list has included many of the big banks that the Justice Department under Holder’s leadership failed to criminally prosecute for their role in the financial crisis, including Bank of America, JPMorgan Chase, Wells Fargo and Citigroup.

    http://m.democracynow.org/stories/15344

  5. Banco Popular Trust Preferred Shares says:

    ? What is your point beyond essentially nothing? Has no impact on my comment……go back to being radicalized by ISIS via the web……

    Fabius Maximus says:
    July 12, 2015 at 9:44 pm
    #11 Chi
    “the steel skeleton was owned by a bankrupted contractor ”
    That is the funniest thing I have read in here in a long time. Did the mayor tell you they took “gullible” out of the dictionary?
    You need to do a bit more research on AP. Here’s a starter.

  6. grim says:

    Shocked that the Obama Administration is in bed with Wall Street. It can’t be, it just can’t be. Obama’s appointment of Eric Holder as AG is CRIMINAL. Holder should be prosecuted for TREASON for the betrayal of the American people.

    DO YOU HEAR ME? TREASON. HE SHOULD BE PUT TO DEATH.

  7. Banco Popular Trust Preferred Shares says:

    You could have written this article a 1 1/2 ago with the date 7/10/2015…….
    http://nypost.com/2015/07/10/apparently-its-now-ok-to-pee-on-the-streets-of-new-york-city/

  8. anon (the good one) says:

    but then you all accuse independents like Warren of being radical

    true is that entitled right wingers like it this way

    grim says:
    July 13, 2015 at 8:23 am
    Shocked that the Obama Administration is in bed with Wall Street. It can’t be, it just can’t be. Obama’s appointment of Eric Holder as AG is CRIMINAL. Holder should be prosecuted for TREASON for the disservice he did to Americans.

    DO YOU HEAR ME? TREASON. HE SHOULD BE PUT TO DEATH.

  9. The Great Pumpkin says:

    he vast cyber-attack in Washington began with, of all things, travel reservations.
    More than two years ago, troves of personal data were stolen from U.S. travel companies. Hackers subsequently made off with health records at big insurance companies and infiltrated federal computers where they stole personnel records on 21.5 million people — in what apparently is the largest such theft of U.S. government records in history.
    Those individual attacks, once believed to be unconnected, now appear to be part of a coordinated campaign by Chinese hackers to collect sensitive details on key people that went on far longer — and burrowed far deeper — than initially thought.
    But time and again, U.S. authorities missed clues connecting one incident to the next. Interviews with federal investigators and cybersecurity experts paint a troubling portrait of what many are calling a serious failure of U.S. intelligence agencies to spot the pattern or warn potential victims. Moreover, the problems in Washington add new urgency to calls for vigilance in the private sector.
    In revealing the scope of stolen government data on Thursday, Obama administration officials declined to identify a perpetrator. Investigators say the Chinese government was almost certainly behind the effort, an allegation China has vehemently denied.

    http://www.bloomberg.com/news/articles/2015-07-12/hacked-in-the-u-s-a-china-s-not-so-hidden-infiltration-op

  10. anon (the good one) says:

    @ProSyn: “You cannot have bad borrowers without careless lenders” – @rodrikdani

  11. Banco Popular Trust Preferred Shares says:

    clot: this movie is plodding and dreary, but has some of the best Vodka swilling since Leaving Las Vegas…….
    https://www.youtube.com/watch?v=2oo7H25kirk

  12. anon (the good one) says:

    @counternotions: If Microsoft had any regards for the security of this nation, it would have refused to renew U.S. Navy’s Windows XP license.

    The Great Pumpkin says:
    July 13, 2015 at 8:33 am
    he vast cyber-attack in Washington began with, of all things, travel reservations

  13. D-FENS says:

    12 – Hate to break it to you, but plenty of devices, even ATM machines, still run appliance versions of windows XP. There are TONS of security companies that would gladly fall over themselves to take the government’s money and secure all of the windows XP machines. The blame should not completely be with Microsoft.

  14. Ragnar says:

    “true is that entitled right wingers like it this way”

    anon, on the SAT, what was your verbal percentile score?

  15. anon (the good one) says:

    Rags, from the SAT:

    hy·poc·ri·sy
    həˈpäkrəsē/
    noun
    the practice of claiming to have moral standards or beliefs to which one’s own behavior does not conform; pretense.
    synonyms: dissimulation, false virtue, cant, posturing, affectation, speciousness, empty talk, insincerity, falseness, deceit, dishonesty, mendacity, pretense, duplicity;

  16. Ragnar says:

    non se·qui·tur
    /ˌnän ˈsekwədər/
    noun
    noun: non sequitur; plural noun: non sequiturs; noun: nonsequitur; plural noun: nonsequiturs

    a conclusion or statement that does not logically follow from the previous argument or statement.

  17. Libturd in Union says:

    Wow…Anon discovered the dictionary. Anon, do you have an extra 21st chromosome?

  18. Libturd in Union says:

    “Transit hubs, including Penn Station, are plagued by surging numbers of homeless people who publicly masturbate, harass bystanders and demand free food as the city looks the other way, commuters complain.”

    Exactly what I was saying the other day. This winter in Penn is going to be tons of fun. I might just step on a few intentionally.

  19. Ragnar says:

    Libturd,
    Make sure not to step in a pool of beggar spooge.

  20. Comrade Nom Deplume, Land Snark says:

    Seems that anon was in Connecticut over the weekend and got himself all triggered:

    http://wtnh.com/2015/07/10/wallingford-police-called-after-nazi-confederate-merchandise-found-at-flea-market/

    What I found troubling about this story was (a) the police actually showed up and took a complaint, and (b) the mayor’s office is “looking into it.” Seems we are hurtling ever closer to Speech Codes and a fundamental restructuring of what the First Amendment stands for.

    Of course, if we can use it to ban offensive speech, let’s take a vote on who should be banned from here.

  21. Comrade Nom Deplume, Land Snark says:

    [3] grim,

    “Henry told arresting officers “I just like pigs,” when asked why he was there. Henry also admitted to drinking a six-pack of Hamm’s beer . . .

    The jokes just write themselves. . . .

    As for the fact that this was Pennsy, I posit that similar depravity in NYC doesn’t even warrant newscoverage.

  22. Anon E. Moose says:

    Real Estate, folks, real estate: Eye on the Ball.

    What I can tell you in my neck of the woods is that an active spring [selling season] has wilted in triple-H July has taken hold. A couple of properties have moved – including one median-priced property that came to market early and ready, and got a full price offer on day one. Another that I was surprised to see up for grabs, as it had just sold about a year prior, did move — but it has lake frontage going for it. Price difference between the two sales was just over 1% higher — nice enough I guess, but not enough to keep up with inflation and certainly not enough to pay the seller’s transaction costs. Lets hope a corporate relo package is taking the hit on that one.

    Two SF rentals in the neighborhood sit vacant, likely targeting “executive” types. Both bubble buys cum accidental landlords, at least one of which would be happy to sell if you like.

  23. Comrade Nom Deplume, Land Snark says:

    [5] banco

    He posts late, probably after drinking. It made no sense to me either but then I hadn’t really looked at your post or his repartee, and didn’t much care. But I did go back and read it, and as usual, he is looking at something only he can see.

    I tell him to stick to coding, but he persists at seeing himself as an expert on everything.

  24. joyce says:

    Great. I mean I don’t want legislators writing rules either cause they suck at it, but at least it’s part of their job description. Not un-elected and completely unaccountable judges.

    grim says:
    July 13, 2015 at 6:09 am

    But in March, the state Supreme Court ruled that affordable housing must be regulated and put judges in charge of setting rules

  25. joyce says:

    Comrade,
    Can we hope the mayor is looking into why police resources were wasted on checking out that caller’s complaint?

  26. joyce says:

    More Fraud

    http://market-ticker.org/akcs-www?post=230356

    Greece is already in the hole by nearly €300 billion!

    Now Greece is being forced to transfer €50 billion into a “fund”; the only concession that Tsipras got was to keep the “title” in Greece, instead of sending the “assets” to Luxembourg.

    Note that Greece only has about $230 billion in GDP annually, and yet now, with this new “bailout” has roughly double that in debt!

    Let’s look at the numbers on this and make a few reasonable assumptions.

    We’ll assume an extremely low 2% interest rate on the entire roughly-400 billion Euro debt. That’s €7.7 billion annually in interest payments. We’ll also assume that over 30 years the debt will be paid down. That’s another €12 billion, more or less. So now Greece has to come up with about €20 billion, more or less, in payments to international bankers out of their economy every single year.

    Greece has about half of their GDP coming from government spending. This means close to 9% of every euro in GDP goes to those creditors and about 17% of the government’s spending goes there too!

    It’s never going to happen. Never.

    The claim that we can do this with a new “three year” deal is an abject fraud and anyone that believes otherwise is a lying snake.

    The so-called “lenders” didn’t loan anything; the entire process from day 1 was and remains a fraud-filled pile of crap and the fact of the matter is that ever since Greece entered the Euro all of it, including the nation’s entry into the EU, was a function of fraudulent accounting followed by fraudulent transfers from private banks (that intentionally made bogus “loans”) to the people of the EU through yet more fraud-laced processes!

    This is reason for financial market euphoria? It ought to be good for an all-on market crash; that it is not tells you everything you need to know about what passes for a “market” these days.

    Oh, and while you’re at it note that the ECB did not expand the ELA, which means Greek banks remain shuttered.

    You really think that continuing to deny arithmetic is going to work eh?

    GOOD LUCK!

  27. NJGator says:

    Can someone with GSMLS access let me know what the projected closing date is for 590 Ridgewood Ave in Glen Ridge?

  28. Comrade Nom Deplume, Land Snark says:

    [25] joyce,

    Don’t hold your breath.

    The news report showed an interview with a vendor (not sure if same vendor) who sold memorabilia of that sort and he took pains to sympathize with the caller. Obviously not his first rodeo in that he toed the PC line even though he likely didn’t agree with it.

    In the future, we will all speak in platitudes publicly but follow our beliefs privately. I saw that many years ago when our Crim Law professor tried to get the class engaged in a conversation on crimes with sexual overtones (probably r@pe but I cannot recall). Either no one spoke up or only some women spoke; not one single male student said a word. She remarked on that, openly wondering why no one was piping up, and those who did took the obviously PC position.

    Later in her office, I told her that many students, especially the men, all of whom had mgt level or higher jobs, would not respond to any questions on controversial subjects because it was too easy to be labled with an ” . . ist”. She found that incomprehensible. I remarked on her myopia insofar as she was a product of Harvard Law and the Clinton DoJ, and would be of the class that would excoriate the un-PC. She disavowed that and expressed her support for open discourse but I reminded her that we were going out in the world in three years and what we said in her class wasn’t going to resonate in her ears only. She lamented the chilling effect that had, apparently not understanding the irony–that she represented the very cohort bringing the chill.

  29. FKA 2010 Buyer says:

    Blackstone thought that buying property for a few cents on the dollar was a good idea. Too bad they underestimated the rental business. They should have hired some former credit card / mortgage service people to give them insight into how people pay.

  30. JJ says:

    Rap Star 50 cent filed for bankruptcy protection saying his debts are greater than assets.

    So rapper 50 cent is worth less than 50 cents. Wow

  31. FKA 2010 Buyer says:

    [28] Comrade

    Later in her office, I told her that many students, especially the men, all of whom had mgt level or higher jobs, would not respond to any questions on controversial subjects because it was too easy to be labled with an ” . . ist”.

    That would only happen if the male’s response was somehow placing (even if unintentional) some of the blame on the victim. Having said that, some topics are a little more black and white and not as gray so silence can appear to be something else.

  32. FKA 2010 Buyer says:

    50 is following Trumpers business model. File bankruptcy and start over.

  33. FKA 2010 Buyer says:

    How Far Does $100 Go In New Jersey?

    How far does $100 go in New Jersey compared with the rest of the United States? One group has an answer for you and it’s not very far.

    The Tax Foundation, which describes itself as “the nation’s leading independent tax policy research organization,” released a map showing just how far $100 goes in each state compared to the national average.

    Using 2013 data from the Bureau of Economic Analysis, the foundation showed “the real value of $100 in each state.”

    In other words, how much worth of goods can $100 buy in your state versus those same goods around the country?

    In New Jersey, the “real value” of $100 is $87.34.

    https://patch.com/new-jersey/summit/how-far-does-100-go-new-jersey-0

  34. Libturd in Union says:

    “You really think that continuing to deny arithmetic is going to work eh?”

    The public unions in NJ have been doing it for as long as I can remember.

  35. Juice Box says:

    re – 50 cent, housing story….

    Mike Tyson told a story last year about him.

    “Boxer Mike Tyson attempted to talk pal 50 Cent out of buying his sprawling Connecticut home, insisting the place was just too big to live in.
    The rapper bought the former heavyweight boxing champion’s Farmington mansion for just over US$4 million in 2003, despite Tyson’s warnings about how much the upkeep on the place was.
    The fighter-turned-actor says, “I was trying to explain to him, ‘You really don’t wanna buy this house…’, but if I didn’t sell to him there was no way I was gonna sell the house.
    “No one was gonna buy it with 60,000 square feet; it’s gonna cost them $25,000 just to mow the lawn… but I didn’t realise how much money he had.”
    Tyson admits some of the parties he threw at his former 52-room palace went on for days – because people didn’t leave and he had no idea they were still there.
    He adds, “There’s just so much space… The party’s over and four days later some girl comes out of one of the rooms and… I’d be like, ‘Where’s your clothes…? Who are you?”

  36. D-FENS says:

    @Breaking911: Fugitive Drug Lord ‘El Chapo’ Goes After The Donald on Twitter – http://t.co/IW05nhO59Y http://t.co/qHl6HOL2Rc

  37. 1987 Condo says:

    Good thing they build the prisons with the tunnels included, this way they can make sure they have good lighting and ventilation and it does save time and money.

  38. Juice Box says:

    re # 38 – Tunnel had a motorcycle too.

  39. Essex says:

    Rosie O’Donnell has a tumultuous personal life that is naturally matched by an equally tumultuous real estate portfolio: The 1928 estate in Saddle River she purchased in 2013 with new wife Michelle Rounds is back on the market — as are O’Donnell and Rounds, who split earlier this year.

    O’Donnell wants $6.975 million for the six-bedroom English Country-style estate, which features a pool with grotto waterfall, plunge pool, Jacuzzi and a separate guesthouse. The property also has a three-car garage and artist’s studio, and the entire estate can be powered by a natural gas generator. She paid $6.375 million for the home, which was originally on the market for $9.2 million. Taxes are $27,360.

  40. joyce says:

    NJGater,
    I have not. Thanks.

    Loved this line near the end “Bueermann called the Prosecutor’s Office reviewing its own actions an obvious conflict of interest.”

    Wonder if Mr. Bueermann will say the same about the entirety of Internal Affairs?

  41. Juice Box says:

    re ” the entire estate can be powered by a natural gas generator”

    Rosie definitely generates allot of gas.

  42. Ben says:

    Man, Fifty really knew how to spend money. The guy got $100 million for just slapping his name on Vitamin Water before the company was sold.

  43. Libturd in Union says:

    I heard Fiddy married a Jewish chick named Penny Roll.

  44. Banco Popular Trust Preferred Shares says:

    PATERSON – Well, we saw this coming. With all the well-hyped plans to put a woman’s image on the $10 bill, descendants of Alexander Hamilton are howling. Sure, a woman should be on American currency, but why should Hamilton fall on the sword? Don Hamilton, who is Hamilton’s great-great-great-great-great-grandson, reminds the public that grandpop was the country’s first treasury secretary and created the modern U.S. financial system, with a national debt, bank and mint. Moreover, Hamilton launched the Industrial Revolution in Paterson, conceiving the first major U.S. water power system at the Great Falls. So, Don Hamilton asks, why is the “father of paper money” the one who loses out?

  45. 1987 Condo says:

    I like Hamilton, move him to the $20.

  46. joyce says:

    “… [Hamilton] created the modern U.S. financial system, with a national debt, bank …”

    And f him very much.

  47. NJT says:

    “The lower-value properties are much higher touch,…”.

    I knew this twenty years ago.

    Also, can be, a better CASH flow (if managed correctly – STERNLY).

    Able to flip ’em quicker, too… if the place is not working out.

    I’ve owned high end (single family, newer, MINT places) and low end multi-family run down joints. They both have their pluses.

    These days/years I’m in the middle with multi-families not in the ghetto but not suburban. Nice niche.

  48. Ragnar says:

    Banco Popular,
    Given that the Treasury will plop a woman on the $10, who would you propose?
    I’d pick Ayn Rand, but that’s not going to happen. Eleanor Roosevelt is probably the front-runner, but I think that’s a disaster because 1) she gained power and fame via an empty marriage to a tyrant 2) was a big time statist.
    I’d rather have Billy Jean King or Mercy Otis Warren.

  49. Essex says:

    Donald Trump might want to dial it back a bit, “Keep f–king around, and I’ll make you eat all of your godd–n words, f–king whitey f—-t @realDonaldTrump,” an account claiming to be Guzman’s official Twitter presence tweeted at Trump’s account in Spanish.

  50. A Home Buyer says:

    The motorist recounted how the attackers violently shook the car with her two children screaming in the backseat, and one of the teens even used his bicycle to shatter the rear window, sending shards of glass raining down on the toddlers.

    http://www.dailymail.co.uk/news/article-3159639/Mother-two-attacked-dozens-black-youths-young-children-car-told-didn-t-belong-neighborhood-white.html#ixzz3fnaKECyO

  51. A Home Buyer says:

    54 – Trump being attacked by a Mexican Drug Cartel would probably guarantee he became president. At a minimum he would gain a cult following far exceeding what he has now.

    Assuming of course he still had his head at the end of it.

  52. joyce says:

    Seen the promos for the new show “Born in the wild” or something like that? Is Dyfus or CPS going to be waiting for them at their house?

    Libturd in Union says:
    July 13, 2015 at 2:52 pm
    Now THIS is parenting…

    http://www.lohud.com/story/news/nation-now/2015/07/07/police-parents-force-daughter–live–woods-after-eating-pop-tart/29809009/

  53. Essex says:

    57. Trump mobilizing his private security team and taking this guy out would win my vote.

  54. Comrade Nom Deplume, the anon-tidote says:

    [31] buyer

    No comment

  55. grim says:

    Given that the Treasury will plop a woman on the $10, who would you propose?

    I thought the whisper was Michelle Obama.

  56. Libturd at home says:

    I would have suggested Monica Lewinsky for the $20, since she’s already been on a bill a ton of times.

  57. Juice Box says:

    Who still uses cash?

  58. 1987 Condo says:

    #63..surprisingly everyone I see at Home Depot….

  59. Ragnar says:

    Speaking of mega-landlords, anyone sick of hearing the National Realty advertisements on Bloomberg? Looks like Libturd is a real sucker to manage his own investment property when National Realty can promise so much more.

    http://nria.net/about-us/

    As a benefit for working with NRIA, all accepted clients are guaranteed to receive the following:
    The purchase of deeply discounted raw land in top, city neighborhoods.
    The under market purchase of a 100% new construction townhome built with the highest level, luxury construction materials, amenities, and workmanship.
    $150,000 of typical guaranteed, bank certified, built-in, equity return per investment home unit. (Equity can be more or less depending on the location.)
    An unheard-of “Fixed Price Construction Contract” with the builder – guaranteeing ground up, 100% new construction of your luxury townhome at a fixed rate.
    An unprecedented “On Time – Fast Build Guarantee” with the builder – assuring the on time completion of the construction phase of your investment property, or else the builder pays you steep, daily financial penalties.
    A revolutionary “Five Year ‘Break Even’ Rent Guarantee” with the property manager – assuring your rental income will cover all monthly expenses for five years, or else the property manager makes up the difference.
    A “10 Year Property Tax Abatement” on your investment home – guaranteeing by law you will not be charged property tax on your investment home for 10 years.
    A luxury, investment townhome with a resale value between $500,000 to $2,200,000 (depending on location) for as little as $11,900 cash-in +100% financing. (When qualified.)
    Cutting edge financing options and consultation so you can follow our “cash recycling” investment system.
    Sophisticated real estate financial planning for rapid, safe development of your real estate portfolio.
    Expert advisement on 401(k) and Self Directed IRA Real Estate Investment Acquisition and how these retirement assets can be used to purchase real estate.
    Your 100% satisfaction guaranteed – or else National Realty Investment Advisors, LLC will buy back your investment with “no questions asked.”

  60. yome says:

    Re: 50 Cents
    His Companies are not under his name.He is worth 50 Cents though his Companies are worth $250M

  61. grim says:

    65 – I especially like the shit they make up.

    You can purchase Equity Positive High Credit Yield Low Systemic Risk Flow Through Capital Liquid Rental Appreciation Positive properties RIGHT NOW.

  62. NJT says:

    #54

    Trump being accosted would probably play out like this (FF to 5:38):

    https://www.youtube.com/watch?v=tox04rGoTkU

  63. Juice Box says:

    Simply Amazing.

    More Americans are becoming their own boss. More than 53 million Americans are now doing freelance work, making up 34 percent of the U.S. workforce, according to a 2014 survey by research firm Edelman Berland, commissioned by the Freelancers Union. Those numbers are only expected to grow.

    http://www.cnbc.com/2015/07/12/freelancers-embrace-cubicle-culturesort-of.html

  64. The Great Pumpkin says:

    How can anyone with an ounce of logic not rally around this guy? Anyone that complains about the current established political parties should be supporting this man.

    “The economic and political systems of this country are stacked against ordinary Americans. The rich get richer, and use their wealth to buy elections. Working families get poorer, and give up on the political process. This is not a democracy. This is an oligarchy. We need a political revolution.” – Sen. Bernie Sanders (I-Vt.)

  65. Alex Bevan says:

    70

    He is a soc1alist!

    Funny that the refrain from the right for the past eight years might make that point mute.

    I’ve said for years the next realistic candidate that is willing to stand up and proclaim the emperor has no clothes will either breeze to election or get shot. Maybe both.

    First attempt lost to the filter.

  66. Libturd at home says:

    I would vote for Bernie. Too bad the herd mentality of the sheeple will draw them to another round of Clinton vs. Bush.

  67. Alex Bevan says:

    I’m hoping for trump vs Bernie for the lulz.

  68. Alex Bevan says:

    Maybe trump vs Clinton for the actually bankrupt vs the morally bankrupt.

  69. The Great Pumpkin says:

    Damn this filter

  70. Alex Bevan says:

    http://www.nj.com/politics/index.ssf/2015/07/for_just_2500_christie_will_take_a_photo_with_you.html#incart_river

    For $2500 take a wide angle photo with a top twelve presidential candidate!

  71. The Great Pumpkin says:

    Shortened version due to filter.

    Heres a little tip; If he was president, you will pay less taxes ( if you make under a million a year) and your life will improve. Glad the powers that be have you so focused on “social!sm”. It’s terrifying! Can’t vote for him–he’s a social!st

    Alex Bevan says:
    July 13, 2015 at 7:23 pm
    70

    He is a soc1alist!

    Funny that the refrain from the right for the past eight years might make that point mute.

    I’ve said for years the next realistic candidate that is willing to stand up and proclaim the emperor has no clothes will either breeze to election or get shot. Maybe both.

    First attempt lost to the filter.

  72. The Great Pumpkin says:

    Telling you, I’m a younger version of you. Not to a T, but close enough. You understand that he is a better option than anything out there because he is not obsessed with money, therefore much more difficult to corrupt. He does not accept corporate political donations(bribes) even though that means he prob has no shot at winning. Have to respect an individual that stands by his beliefs.

    Libturd at home says:
    July 13, 2015 at 7:34 pm
    I would vote for Bernie. Too bad the herd mentality of the sheeple will draw them to another round of Clinton vs. Bush.

  73. Anon E. Moose says:

    Gourd [77];

    You say that as if we wouldn’t be Greece before the end of a Sanders’ second term. And he would get re-elected, because people like free sh!t (see, Greece, voting to give the middle finger to the last people on earth willing to lend them money) and it would be a great party under president Sanders for about 5 years.

    Then everyone will notice the rich people aren’t spending their money anymore, or just plain aren’t there any more, and tax revenues aren’t what they were projected to be. Ooops! Who could’ve predicted, huh?

    Things may or may not come crashing down by year 8, but it will definitely be clear that the promised utopia hasn’t been delivered. So sure the Bernie crowd will make excuses, blame the greedy rich people, double down on bad policy and empty promises. Until we wake up one day and look like Greece.

    Listen, Sander isn’t in it to get elected. He’s in it to make Hillary look good. She’s younger than him, has “fresh” ideas; and gives her a convenient counterpoint to her left when she runs in the general. I don’t care how “energized” his rabid followers are two years before the election. Ralph Nader used to brag about filling arenas for his fundraisers — he forgets to mention his fundraiser was a Jackson Browne concert (much like the headline act for Obama’s “Citizen of the World” speech in Germany 2008).

  74. D-FENS says:

    “Zombieland” hotel demolition filmed from drone in Detroit.

    https://m.youtube.com/watch?v=UZU7TDwEE78

    Thought you guys might dig this.

  75. The Great Pumpkin says:

    No way in hell would we become like Greece. What do you think he is, some sort of Santa clause for the poor? He would bring balance back to the economy, meaning, he would stop making the middle class the punching bag. This guy is good for everyone, even the rich, they are just too thick headed (scared he will take their money) to realize it.

    As for Hillary, he’s not helping her, he’s becoming direct competition. Listen, people want change. They lost hope in politics. This guy is an independent that is becoming more popular by the day. To take this guy lightly, is to not really look at the situation with open eyes.

    Yes, he is running under a democratic platform, that is your proof that he seriously is going to try and win this election. Otherwise, he would have just run as an independent, which is what he is, but have no shot at becoming president.

    Anon E. Moose says:
    July 13, 2015 at 9:36 pm
    Gourd [77];

    You say that as if we wouldn’t be Greece before the end of a Sanders’ second term. And he would get re-elected, because people like free sh!t (see, Greece, voting to give the middle finger to the last people on earth willing to lend them money) and it would be a great party under president Sanders for about 5 years.

    Then everyone will notice the rich people aren’t spending their money anymore, or just plain aren’t there any more, and tax revenues aren’t what they were projected to be. Ooops! Who could’ve predicted, huh?

    Things may or may not come crashing down by year 8, but it will definitely be clear that the promised utopia hasn’t been delivered. So sure the Bernie crowd will make excuses, blame the greedy rich people, double down on bad policy and empty promises. Until we wake up one day and look like Greece.

    Listen, Sander isn’t in it to get elected. He’s in it to make Hillary look good. She’s younger than him, has “fresh” ideas; and gives her a convenient counterpoint to her left when she runs in the general. I don’t care how “energized” his rabid followers are two years before the election. Ralph Nader used to brag about filling arenas for his fundraisers — he forgets to mention his fundraiser was a Jackson Browne concert (much like the headline act for Obama’s “Citizen of the World” speech in Germany 2008).

  76. The Great Pumpkin says:

    Is there an elite class in European countries? If so, how do these conditions exist under extreme social!sm? Why haven’t the wealthy fled?

  77. Fabius Maximus says:

    #5 Chi

    The point is, the guy is blowing smoke up your a$$. The “developer near bankruptcy”, built half the Gold coast. He sat on that site until the time was right for him. They gave the new guy a 30year tax abatement on the development. There is a good reason Trenton has so much oversight on their finances. AP is still a train wreck. That’s before you even get to the schools.

  78. Comrade Nom Deplume, Thankfully Not Greek says:

    [83] Chi, it’s a fair point.

  79. Comrade Nom Deplume, Thankfully Not Greek says:

    [77] punkin

    “Heres a little tip; If he was president, you will pay less taxes ( if you make under a million a year”

    That’s a good one. Thanks for the chuckle.

  80. leftwing says:

    28, 31

    Remorse is not r@pe.

    Columbia woman with the mattress would be prosecuted for her actions of roles were reversed.

  81. NJT says:

    Joyce – 8675 ;) D

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