We need more affordable housing.

[Woodznutz]

Big banks and corporations were not supposed to be allowed to purchase single-family homes.

I know they didn't used to be allowed to. There's no way it's in the public's best interest for them to be.

They're actually late to a party that's been going on for decades.

 

[The Duke]

They're actually late to a party that's been going on for decades.

They were not invited.

 

[Woodznutz]

They were not invited.

They didn't want to bother with single family homes as investment property back then. Now they do.

 

[The Duke]

They didn't want to bother with single family homes as investment property back then. Now they do.

How's that working out for everyone besides them?

 

[Woodznutz]

Cool ... everybody has a part ... the difficult part is figuring out what part God made for us ...

At 83 I'm pretty much doing what God intended for me. Too late to change now.

 

[Woodznutz]

How's that working out for everyone besides them?

Great, for those who bought rental houses way back when. For today's buyers, not so good.

 

[ReinyDays]

Great, for those who bought rental houses way back when. For today's buyers, not so good.

Yeah .. especially 2009 ... rents were increasing as fast as law allowed AND more inventory on the market at dirt cheap prices ... great times for landlords ... the banking system didn't fail us ...

 

[Woodznutz]

Yeah .. especially 2009 ... rents were increasing as fast as law allowed AND more inventory on the market at dirt cheap prices ... great times for landlords ... the banking system didn't fail us ...

The market is fickle. I bought my (only) apartment building in a down market, but also sold it in a down market. If I had held it for another three years it would have brought $100,000 more (but didn't know that at the time), but I wanted out. No regrets though, I made a lot of money from the venture.

 

[ReinyDays]

The market is fickle. I bought my (only) apartment building in a down market, but also sold it in a down market. If I had held it for another three years it would have brought $100,000 more (but didn't know that at the time), but I wanted out. No regrets though, I made a lot of money from the venture.

I had the 16 units spread out over 3 acres ... lots of lawn to mow ... sold out when the market was hot and retired early ...

Frankly, I found the industry slimy ... I didn't abuse tenants but I heard the stories ... some of the craziest shit from landlords in a court-of-law ... things like sex in return for maintenance ... I lost count the number of naked women I've had to drag out of my bed come evening ... if you don't want the entire neighborhood to see you in the buff, stop pounding on my front door screaming about your clothes ... pffft ... they never learn ...

Did you use Social Securioty's COLA and calculate the increase on each of your SS tenants, and then raise their rents by that amount? ... that's OUR cost-of-living increase, not theirs, ours ... two weeks gambling in Las Vegas gets expensive ...

 

[Woodznutz]

I had the 16 units spread out over 3 acres ... lots of lawn to mow ... sold out when the market was hot and retired early ...

Frankly, I found the industry slimy ... I didn't abuse tenants but I heard the stories ... some of the craziest shit from landlords in a court-of-law ... things like sex in return for maintenance ... I lost count the number of naked women I've had to drag out of my bed come evening ... if you don't want the entire neighborhood to see you in the buff, stop pounding on my front door screaming about your clothes ... pffft ... they never learn ...

Did you use Social Securioty's COLA and calculate the increase on each of your SS tenants, and then raise their rents by that amount? ... that's OUR cost-of-living increase, not theirs, ours ... two weeks gambling in Las Vegas gets expensive ...

The last ten years I had mostly Latino families. Great tenants, neat and clean, paid rent on time (always in cash). Occupancy rate of 96 percent over 18 years. I kept rents reasonable and completely upgraded each apartment, also landscaping, sidewalks, and parking lot. Never had to advertise once Latinos began moving, all word of mouth from then on. However, in the early years I did take several to court for failure to pay rent. I got judgements against them but never saw a penny of it. Oh well.

 

[ReinyDays]

The last ten years I had mostly Latino families. Great tenants, neat and clean, paid rent on time (always in cash). Occupancy rate of 96 percent over 18 years. I kept rents reasonable and completely upgraded each apartment, also landscaping, sidewalks, and parking lot. Never had to advertise once Latinos began moving, all word of mouth from then on. However, in the early years I did take several to court for failure to pay rent. I got judgements against them but never saw a penny of it. Oh well.

[sigh] ... the downside of kicking women out of bed is they went all through town bad-mouthing me ... so all the church-going folk started sending me their elderly widow women ... and not-so-elderly widow women ...

I had the same experience with the Latinos ... great tenants, a little hard on septic systems but otherwise wonderful folk ... came within a whisker of pulling my English language advertising ... "Sí hablo Inglés" ... ha ha ha ha ha ha ha ha ha ...

The eviction railroad system is why I brag about a hundred consecutive wins in court ... [blush] ... I guess you're not impressed eh? ...