This is what happens when you bite off more than you can chew with a developer. Greed is evil.

@JeremyAKnight

2 ай бұрын

Fact check. True.

I worked for the roofing contractor that installed what you see on this video. I questioned this builder right after the first home was completed. I know for a fact the majority of the contractors haven't received payment for what was completed.

@JeremyAKnight

2 ай бұрын

Wow! That isn’t surprising!

Love these documentary-style/vlog videos! interesting!

@JeremyAKnight

2 ай бұрын

Me too!

Contractors need to get a lawyer and come up with a quick deed sale to satisfy the liens on these homes. Opportunity knocks.

Great video. Thank you for the info.

@JeremyAKnight

2 ай бұрын

Thanks!!!

Love it! I've been watching you longer than RealEstateMindset, but you both have quality content. Jeremy didn't first!

@JeremyAKnight

2 ай бұрын

I just didn’t like how misleading his video was. No research, no context, no real information. If he wanted to talk to anyone about what’s happening. He should’ve reached out.

It is so sad to see those homes like that.

@JeremyAKnight

2 ай бұрын

It is for sure.

I pass by those houses almost every day. Wow, I didn't know that the property went so far back. And no, I will keep just passing by and not stopping. I figured them to be hobo homes.

@JeremyAKnight

2 ай бұрын

Crazy! Right!

It probably started with too much financing because the developer didn't have enough money. Then they used down-payment to help finance construction. Then everyone from tile installers to landscapers raised their rates because demand exceeded supply. Then they lost their credit terms with material suppliers plus those prices went up too. Then they missed payments and word got around. Couple this with buying new luxury cars and Colorado ski house or beachfront property. Suddenly the guy who drives a Mercedes (or worse) can't pay on Friday. He loses people. All the while the market is changing and not in his favor. These developments litter the world. There are entire cities in Spain and China that will never have residents. UAE also. Golf courses, hotels, malls, apartment buildings, and the list goes on. Scammer? Maybe just poor decision making, bad management, plus letting initial success go to their heads. Instead of driving a bare bones fleet model f150 with vinyl bench seat, he went all out at the dealership and didn't stop there until it was too late. Now he can't possibly fulfill his obligations and this will end badly for everyone who didn't pay a good lawyer.

Good place to ride your bike. I have been riding through here for the last couple of years.

@JeremyAKnight

2 ай бұрын

There is that!

I mean... it is a problem. This is one of two that I know of. I live near another one. The fact they keep pushing it off is very concerning. I feel bad for the people who were hopeful to get into one of these homes.

@JeremyAKnight

2 ай бұрын

What’s interesting as the amount of developers that have reached out to me from just a couple short videos wanting to buy these properties.

@tyerrascott6596

2 ай бұрын

@@JeremyAKnight I hope they do! And actually complete it. I'm an Austinite and this is a sad look. We have to do better

@JeremyAKnight

2 ай бұрын

Yeah we do. I don’t create these video with the intent to talk bad about Austin. I do it because I want what’s best for Austin. I don’t think those at the top of our city can say the same.

great video

@JeremyAKnight

2 ай бұрын

Thank you’

Good video, I've driven by that area. From the other side of the fence I always thought, man that's going to be a great neighborhood... too bad I can't afford it :). Sad to see it though.

@JeremyAKnight

2 ай бұрын

Y is may be able to afford it soon!

@danielbishop4862

2 ай бұрын

@@JeremyAKnight fingers crossed! 🤞

Kind of interesting, but not unexpected. As you mentioned, all is about making profit and if it is known that such an area is a ghost town, the value goes even down much more. Redeveloping is not easy because I do not want to buy such a home that sits wet for such a long time. Mold.... is expected. Selling these homes may work with a huge discount or the buyer does not know about the history.

@JeremyAKnight

2 ай бұрын

Yup. Going to be rough.

ABANDON NEW HOME ... BUILDERS just drop, No-reason to builds and there are NOT buyers out there to buy. Austin market ws HOT back in 2021/2022.. Houses was overprices.. from 400K. up to 700/800K. that almost 100% increase. Just wait for the next 6 more months, it will back down to where it was before...

But but but.....Mass layoffs do affect the local real estate market, that's not a question, that's a fact, and it's happening. Unless these laid off employees, owning homes, find new employment asap, foreclosures will follow. Foreclosures affect the real estate market. In an area where's there's a glut of new construction, add massive layoffs, that's a recipe for disaster in my opinion. It usually means, not rising home prices, but discounted prices. It will be interesting to see what happens in 3 to 6 months.

@JeremyAKnight

2 ай бұрын

They do. There’s also an article showing that there are companies trying to hire and need the work force of those laid off.

@JeremyAKnight

2 ай бұрын

@@Soozalou397I’m helping a lot of people buy homes that are not CEO’s. Austin is turning into a manufacturing city and the areas outside of Austin has prices that fit them.

No soace between homes. Bivgest issue between peace in neighborhood is soacing of houses

There is a community in RR that had to host some condos. Some some condos are built and others are just lots.

@JeremyAKnight

2 ай бұрын

There are s few!

@nesq4104

2 ай бұрын

Same in parts of Pennsylvania unfortunately someone I know got stuck buying into an unfinished expensive development

Wild

@JeremyAKnight

2 ай бұрын

✅

CANADA 🇨🇦 🍁 Rimbey Alberta 🇨🇦 ❤️ western Canada 🇨🇦 ♥️ LOVE'S U JEREMY grest info coming to Canada 🇨🇦 soon Love our USA 🇺🇸 friends 🇺🇸 and 🇺🇸 Families 🇺🇸 👪 love 🇨🇦 from 🇨🇦 western Canada 🇨🇦

What is the name of the developer, this is criminal. Stop these before it turns in NY. Where the demands will get the project finish but the shady practices make the homes horrible

@JeremyAKnight

2 ай бұрын

Hmm

Happy to see it! that’s what they get for putting houses 2 centimeters away from each other 😂 I guess you could say these developers are “mid” 👀😉😉

@JeremyAKnight

2 ай бұрын

🥸

Once vandalized a builder will never return. Collect insurance and move on. Let’s be realistic

@JeremyAKnight

2 ай бұрын

Who knows. You could be right.

I am confused. Earlier in the video you said the developer paid $400,000 for lots and later you said the homes were supposed to sell for $450,000. That math doesn’t work unless you know how to build, finance, market and provide overhead and profit for $50,000 on those houses. Maybe a clarification?

@JeremyAKnight

Ай бұрын

I’m talking about 2 separate things.

I sure hope you were conceal carrying walking around like that.

@JeremyAKnight

2 ай бұрын

This is Texas 🤓

Is this actually in Austin or one of the suburbs?

@JeremyAKnight

Ай бұрын

Austin.

What's wrong, they over paid for it? Typical ATX

@JeremyAKnight

2 ай бұрын

True

@verderriscursey

2 ай бұрын

@@JeremyAKnight u got a whale moving your way. You should link up with him. Brian Turner, long time host of bigger pockets. I'm sure he is gonna do some investing.

What part of Austin is this neighborhood

@JeremyAKnight

2 ай бұрын

I am not disclosing as I don’t want people to enter the community.

@RK-hv2dh

2 ай бұрын

7874x

@Phoenix-uz5us

Ай бұрын

near bluebonnet medical rehabilitation hospital

@JM-kv2kn

Ай бұрын

@@JeremyAKnight lmao

@chrism9017

22 күн бұрын

@@JeremyAKnight That reason makes no sense. Trust me, squatters already know about it. Even I could find it and I live in Florida. Now if you said "I am not disclosing it so I don't get sued for everything I've got"... that I can respect.

but DECEMBER 6th 2024 has not came yet is this video from the future

@JeremyAKnight

2 ай бұрын

Haha. Her review was from the future.

It doesn’t matter whether it is a red or blue state. It is the corporations aka oligarchs vs working class.

@BigRodd91

3 күн бұрын

No, it's Communism vs Capitalism!

Great message overall, but stop repeating yourself over and over to make the video longer. You stated a short board with some nails protruding was a “death trap.” Stop exaggerating. The general message of your video is great, but for the reasons I have given, I bailed out half way through.

@JeremyAKnight

4 күн бұрын

Thanks

The Democrat Voters Are To Blame!

@JeremyAKnight

2 ай бұрын

Interesting 🤔

@myohmy0

2 ай бұрын

Nah...it's always the MAGAts and republikkans doing their dirty deeds in the name of God.

@jabreck1934

2 ай бұрын

Texas developers destroying productive farmland the fastest in the country is because of Abbot. Wake up!!

@rknow78229

Ай бұрын

Another ignorant Republican comment as usual...😐 Please educate yourself starting with Microeconomics and then Macroeconomics. 🤦🏾‍♂️

Lol...is this SF? oh wait this is a red state. I live in a blue state and blue city and we look nothing like that. red states always struggle with income 😂

@JeremyAKnight

Ай бұрын

Blue city.

@user-gq7vj1gc5f

Ай бұрын

@@JeremyAKnight blue city in a red state ?

@JeremyAKnight

Ай бұрын

@@user-gq7vj1gc5f do you live in Austin? The red state doesn’t matter. The red state is the only thing keeping it from going completely crazy.

@user-gq7vj1gc5f

Ай бұрын

@@JeremyAKnight I live in a blue state and blue city and don't have that problem

@JM-kv2kn

Ай бұрын

Then why are y’all the only ones bitching about inflation and student loans

This should be a 5 minute video, tops . . . .blah blah blah.

@JeremyAKnight

2 ай бұрын

Sorry you don’t like information.

@JeremyAKnight

2 ай бұрын

Actually. I lied. I’m not sorry.