danixf
2020-07-02 16:06:22
- #1
The constant moving and renovating only works because of the market conditions in recent years. As soon as the market stagnates, it becomes a wash or you really have to move into rundown properties and spruce them up. A distant acquaintance is doing the same thing. By now, friends are also involved. He gets relevant properties from real estate agents, which his friends buy and "occupy." He renovates the apartments and sells them at a premium. Often the business is done on the backs of elderly people who no longer have money in old age and sell their apartments. The real estate agent takes not only a commission but also sometimes five-figure sums under the table so that XY gets the contract. Disgusting business – but endlessly profitable with the right connections.