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Those evil rich landlords
YellowSnow
Moderator, Swaye's Wigwam Posts: 37,223 
in Tug Tavern
Comments
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Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.
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I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.Sledog said:Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.
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@RaceBannon you planning on getting back in the eviction bidness?
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Hartford police say man decapitated landlord during rent dispute, claimed 'sovereign' status
https://www.foxnews.com/us/decapitated-landlord-rent-dispute-sovereign
Uh no -
Landlord needs to pack a loaded gun like REPO! REPO! REPO!RaceBannon said:Hartford police say man decapitated landlord during rent dispute, claimed 'sovereign' status
https://www.foxnews.com/us/decapitated-landlord-rent-dispute-sovereign
Uh no -
We only hear about the Tims guns kill people. Never about the deaths they prevent.whatshouldicareabout said:
Landlord needs to pack a loaded gun like REPO! REPO! REPO! -
The article doesn’t point out the skin color of the landlords so I’m not sure what to think
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Spending my free time doing housing maintenance sounds like the worst hell I can imagine.YellowSnow said:
I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations. -
Hey, Brandon Leyritz, shut the fuck up. You gambled, you lost. The risks were always there whether you saw them or not.
Nobody should bail you out. Be thankful you live in the US where there is no debtors prison. Stalling your financial wipeout only hurts you at this point.
Call Softy and ask him to ask his Rent-A-State experts for a couple of BK attorney referrals, make the call, give it all back and start over. -
You sound like an asshole. And a loser. And a leech.doogie said:Hey, Brandon Leyritz, shut the fuck up. You gambled, you lost. The risks were always there whether you saw them or not.
Nobody should bail you out. Be thankful you live in the US where there is no debtors prison. Stalling your financial wipeout only hurts you at this point.
Call Softy and ask him to ask his Rent-A-State experts for a couple of BK attorney referrals, make the call, give it all back and start over.
Trifecta. Congrats. -
Buy a reit
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Trouble with a REIT is that commercial real estate has just started to tank. No tenants, no rents, no REIT dividend. But I agree that you aren't dealing with maintenance issues if you just hold stock.
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If Pup were on the @Baseman BBC bored, he'd have hotel REIT as a BUY right now.WestlinnDuck said:Trouble with a REIT is that commercial real estate has just started to tank. No tenants, no rents, no REIT dividend. But I agree that you aren't dealing with maintenance issues if you just hold stock.
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Live by leverage, die by leverage.TurdBomber said: -
Start in Residential, acquire, then flip to Commercial.YellowSnow said:
I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.
Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it. -
Risky with what's going on in our cities. With WFH, and all the malls dying and getting re-developed, it could be gangbusters in the burbs in a few years.Goduckies said:Buy a reit
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Agreed. Office REITs are going to take it in the ass.TurdBomber said:
Risky with what's going on in our cities. With WFH, and all the malls dying and getting re-developed, it could be gangbusters in the burbs in a few years. -
Minus rents(which are high risk) the market pays more per year in returns than property.YellowSnow said:
I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations. -
All real estate is local. If you can buy and hold properties in markets that will appreciate you’ll get rich. But in so many markets, there’s no appreciation after inflation is accounted for.UW_Doog_Bot said:
Minus rents(which are high risk) the market pays more per year in returns than property. -
I don't worry about appreciation as long as the tenants are buying and maintaining the building for me.YellowSnow said:
All real estate is local. If you can buy and hold properties in markets that will appreciate you’ll get rich. But in so many markets, there’s no appreciation after inflation is accounted for. -
I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.TurdBomber said:
Start in Residential, acquire, then flip to Commercial.
Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.
Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it. -
I hear ya. It’s just not for me. I’d rather just buy my primary residence in and invest other capital elsewhere. At least I’m not paying someone else’s mortgage so that’s a good thing.TurdBomber said:
I don't worry about appreciation as long as the tenants are buying and maintaining the building for me. -
That was doable back then. I had buddies who retired in their early 40's during that time.Baseman said:
I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
I also had buddies who had negative net worth for a couple years, and other than their spoiled-rotten cunt wives divorcing them and taking their primary residences, bounced back better than ever within a couple years, realizing that they'd have been way better off if they'd dumped the non-working witch many years before.
Which all goes to say that most women don't and never will understand where money comes from. They just want it. -
There’s more high earning chicks out there than you might think.TurdBomber said:
That was doable back then. I had buddies who retired in their early 40's during that time.
I also had buddies who had negative net worth for a couple years, and other than their spoiled-rotten cunt wives divorcing them and taking their primary residences, bounced back better than ever within a couple years, realizing that they'd have been way better off if they'd dumped the non-working witch many years before.
Which all goes to say that most women don't and never will understand where money comes from. They just want it. -
It's not risk free. I'm dumping my Seattle properties ASAP. I'd rather chase out meth-heads East of the mountains than deal with the protected class of Seattle trash that digs into the floor boards and has the government protecting them from eviction, even though most are working.YellowSnow said:
I hear ya. It’s just not for me. I’d rather just buy my primary residence in and invest other capital elsewhere. At least I’m not paying someone else’s mortgage so that’s a good thing.
Fuck Socialism. It's already here and doing irreparable damage. -
I'm talking about the prototypical stay at home mom in Issaquah or Sammamish.YellowSnow said:
There’s more high earning chicks out there than you might think. -
Should have invested in bitcoin.Baseman said:
I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB. -
@BearsWiin true?!?!?!?!?!?!!?!?YellowSnow said:
There’s more high earning chicks out there than you might think. -
You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.YellowSnow said:
I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price. -
Thats my hope and my goal. Buy that beach house in a couple years and rent out my country home in Arlington. Working at a grocery store I have access to a bunch of twenty and thirty somethings that would be very interested in renting a house with property where they can garden, have a big dog, build a bon fire, blow off fireworks, shoot guns, or nestle in next to the wood stove on a cold winter night while paying a little less than they do for their shitty apartment in Everett or Lynnwood. When the housing market rises again after that, I sell the Arlington house and pocket the cash. I'm with Yellow, I don't want to be a landlord for long. Just long enough for the market to crash and rebuild.greenblood said:
You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.
It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
