Quit Claims and Money Laundering

Take a look at real estate

Housing costs have gone up in the last few years. That’s an understatement. The house next door to us sold for $310k in 2020. It just sold last month for $430k. New homes in our area are starting at $350k. I keep wondering how many more can go in, and who is affording these houses. Rents are up. Rents are higher than mortgages in many areas. What on earth is going on, and why is our government looking into quit claims by LLCs?

Let’s start with a quit claim.

These are generally used when you are transferring property to a family member. So, why is it that SFR LLC is purchasing property and then quit claiming those properties?

I’ve been looking through property records in White House for a couple of years now. First I was looking at which politicians owned property in town and the surrounding areas. Next, I began looking at which properties were rentals. It’s astounding how many properties in White House and Robertson County were purchased for rentals. Doing a search for SFR, you find 104 properties in Robertson County. Progress finds only two. Since I know how many homes were built in Concord Springs down the road from me, I started there. There are 11 homes in Concord Springs owned by some form of LLC. That is 7% of the houses in there. In Holly Tree there are 17 and Magnolia Village 9. Most of these are rentals at this point. There may be more, but the TN Property Viewer doesn’t update anything in a timely manner. In fact, the house next to me still shows the previous owner as the homeowner. When you click on updated info, you will find the new owners. There may be many more that are owned by an LLC that I would need to go into more depth to find. Here is where things get interesting.

Many of these LLCs stay an LLC. Celitc Investments, TAH, HPA, and AMH seem to stay in the ownership of these companies. I’m sure they are rentals. However, SFR Borrower owns 104 properties in Robertson County and Progress Residential owns two. This is where things get weird.

1009 Apache in Indian Ridge sold to SFR in October of 2021 for $290k.

I could not get all of the information in the same screenshot. Notice that the property was purchased in October of 2021, and then quit claimed in July of 2022. Now, look at this.

There is a $379 million dollar loan on this property. WTF?? If this were just one incident, maybe I would think anything of it. But wait, there’s more.

This one is not in WH, but is in Robertson County

These are probably bundles of homes. It would have to be at least 1000 homes. What if I told you that this is going on all over the country. I’ve seen loans on properties for $700 million.

Here is what I can put together. An LLC such as SFR purchases these home for cash. No one knows who owns the LLC. They are out of Delaware, Arizona, and sometimes Chicago. They pay for these homes, and then in days or months, the properties are quit claimed. We have no idea to whom. Then they show up with the multi-million dollar loans on them. $350 million, $700 million. Who exactly is getting the money? Why is that amount being taken out on these homes? It isn’t for improvements, these homes are new (for the most part). For a $300k home to have $350 million in loans on it, there would have to be at least 1000 homes bundled with it. You’re telling me there are more than 2000 homes in middle TN that are owned by SFR LLC? If that’s the case, we are in bigger trouble than we think.

In Tennessee alone, I have found more than $1 billion in loans on various properties. The government thinks something is going on too. Just last month congress was working on something.

They know something is going on, and of course, there is nothing they can do right now. The bad guys keep winning and screwing Americans, and our government is always three steps behind. They know that these properties are being purchased, quit claimed, and large loans being given out. Money laundering at its finest. I know why I’m broke, my brain just doesn’t work that way.

What do we do as citizens? Nothing. We are peasants, pawns in a game we weren’t invited to play. Our state reps are busy getting roads fixed by their homes and fighting over how to spend more of your money. Our US reps in DC are playing a different game where they all make money in their portfolios, sleep around, and decide how much more debt to take on while pretending to fight the other side on “issues.” Once again, I will say it, we live in an oligarchy.

Send this to your rep and see what he or she says about it. I would send it to mine, but he’s not speaking to me.

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