Can you make money being a landlord these days?
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You are correct Race I still pay the property tax while comrade Sawant talks about housing as a basic human right. Like they talked about in the article that a property tax protest withholding would help the local officials figure out to knock it off with the moratoriums. Personally I think: yea right. The federal government is backfilling these decisions for now.
also most people have a mortgage and pay taxes through that. -
Funny, I know the kids in that family fairly well. They made a mint off of slabs of concrete.RaceBannon said:BleachedAnusDawg said:
The best rental investment strategy is to own self-storage or mobile home parks.greenblood said:Yes you can, buy it only takes one bad tenant to take it all away. Commercial real estate is much more expensive, but you aren’t grabbed by the balls with regulations like in residential real estate.
This guy owned a large portion of downtown Seattle and didn't even need buildings. We worked with the kids and grandkids when they started changing parking lots into commercial real estate residence and office -
I've come across the parents in my RE career. Suffice to say, they aren't hurting.BleachedAnusDawg said:
Funny, I know the kids in that family fairly well. They made a mint off of slabs of concrete.RaceBannon said:BleachedAnusDawg said:
The best rental investment strategy is to own self-storage or mobile home parks.greenblood said:Yes you can, buy it only takes one bad tenant to take it all away. Commercial real estate is much more expensive, but you aren’t grabbed by the balls with regulations like in residential real estate.
This guy owned a large portion of downtown Seattle and didn't even need buildings. We worked with the kids and grandkids when they started changing parking lots into commercial real estate residence and office
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Herb Mead had some interesting stories in regards to his business dealings with Joe Diamond.RaceBannon said:BleachedAnusDawg said:
The best rental investment strategy is to own self-storage or mobile home parks.greenblood said:Yes you can, buy it only takes one bad tenant to take it all away. Commercial real estate is much more expensive, but you aren’t grabbed by the balls with regulations like in residential real estate.
This guy owned a large portion of downtown Seattle and didn't even need buildings. We worked with the kids and grandkids when they started changing parking lots into commercial real estate residence and office -
Not paying rent when you have the funds to do so is theft and it's immoral as I once opined to @RaceBannon . I mean what's the fucking point of giving folks the generous UI checks only to have them not pay rent. I guess Big Tobacco and Big Booze are happy to take the money, but the landlord class if getting it up the ass.Number1AtNumber2 said:They all say it is because of covid... but you know those fuckers got unemployment and Biden bucks just like everyone else. The first guy was a tenant for almost 5 years and was probably late on rent 30% of the time. It was minimum $100 extra for his late fee but it would still bug me. It only took him about a week into covid to tell me he didn't have rent which first off: if your rent is $4800 how do you have zero of that in the first week of the month? Second off, who thinks it is a sound strategy to pay that much for rent for 5 years in a row?
The people who are late now gave me all kinds of BS about it being COVID related and that they aren't getting unemployment but I believe they are just taking advantage of the situation. I mean, like the quote in the story says: "Why pay rent you don't have to pay." well shit, I dunno maybe because you agreed to pay the rent when you signed your lease?
We? need to bring back debtor's prisons for the extra special deadbeats. Could help solve the homelessness crisis too. -
The thing that is really bullshit about the eviction moratorium is that nobody is getting rich evicting people. I never want to participate in an eviction... but I want to be able to threaten eviction if people stop being reasonable. Every landlord I have talked to says the same thing.
If the unemployment was flowing (and I am not talking about all the money siphoned off to Nigeria) and the extra $600 and all those stimulating checks than why do you need to halt evictions? -
When I was at the abyss I tried the novel approach of being honest with our landlord and we worked it out where for a few months I paid it in two or three installments and when were back I paid all the late fees
They really don't want to evict you. Just be a man about it -
Novel concept, right?RaceBannon said:When I was at the abyss I tried the novel approach of being honest with our landlord and we worked it out where for a few months I paid it in two or three installments and when were back I paid all the late fees
They really don't want to evict you. Just be a man about it -
The moratorium creates all sorts of bad incentives for renters to be unreasonable.Number1AtNumber2 said:The thing that is really bullshit about the eviction moratorium is that nobody is getting rich evicting people. I never want to participate in an eviction... but I want to be able to threaten eviction if people stop being reasonable. Every landlord I have talked to says the same thing.
If the unemployment was flowing (and I am not talking about all the money siphoned off to Nigeria) and the extra $600 and all those stimulating checks than why do you need to halt evictions?
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I’m no behavioral economist, but this right here is the heart of the problem. I can certainly understand people using the stimulus/unemployment money on food, fixing up an old car, and even a laptop for a kid’s online classes (assuming they’re K-12 and had no other access to education)...but furniture and repayment on credit card debt should’ve come after rent.Number1AtNumber2 said:https://www.seattletimes.com/business/a-landlord-a-tenant-and-the-battle-for-1042-cutler-st-in-upstate-new-york/
And so when Hill finally received some small unemployment payments and a four-figure stimulus check from the government, he used the money to fix the engine in his broken-down minivan, buy a little extra food, purchase some basic furniture, pay down his credit card, and surprise his daughter with a decent laptop for her virtual classes, because why would he spend what little money he had on rent that he didn’t actually have to pay?
As the man said, there’s no incentive to pay rent. Credit cards, while they have offered deferred payments, temporary lower interest rates, etc., can still have people sent to collections and have their credit score impacted (which could hurt your chances with renting again), right?
I don’t know what the answer to all of this is, but it seems like non-housing debt repayment is, like Cal, ranked too high.
