Good news is the new Chinese investor found a cheap property!!! Let's jack up that rent and make it impossible to save for a down payment to become a property owner yourself
I used to almost never raise rent on good tenants. Then the city (Portland, Oregon) started limiting how much I could raise the rent. Me and every other landlord then started raising it by the maximum amount every year. After a few more years of more restrictive laws, I sold all my Portland properties to owner occupants, decreasing the available supply of rentals.
It's the same in the whole state of Oregon now. I live on the coast in a town where the Democrats are constantly whining about the lack of "affordable housing" while also passing massive school bonds every election that raise our already high property taxes ever higher.
They tried to pass a $108.7 million bond measure here a few years ago to build a new high school. It didn't pass, but they have already said that they are going to try it again.
Leading up to the bond measure the district instructed maintenance personnel to only work on items that were a direct threat to student safety, so they purposefully neglected routine maintenance and allowed things to fall into disrepair in order to justify the need for a new school.
You should see the shit they try and pull in my town. The local news is in on it. Every 3 or 4 years (I've since stopped watching TV) they would talk about raising taxes for a school bond, wtf. So, the news program would show one of those removable ceilings, with the foam boards that are in 2X2 sections. They would show a long electrical cable hanging down onto a desk. Amusingly, they used this same shot each time, just 3 years apart! One legislator got so disgusted that he said "Let's give them $1, so they can get one of those foam boards and get that cable back into the ceiling!"
Used to live in that shithole town. Wouldn't surprise me that they rushed the project even under advice not to. City counsel is full of corrupt individuals.
In a small college town, with zero homeless and tons of university facilities the students recently pushed a ballot measure. They wanted to fund a homeless shelter (there were no homeless) a women shelter, and an LGBTQAAIP2S+ shelter. The city already owned about a dozen homes that were empty that they would use for temporary housing for something like a women shelter. The ballot measure raised property taxes rates 2.6%, which translated to about 35% increase in the amount of property taxes paid. It was ridiculous, and was rejected by the city which is why the students pushed it as a ballot measure.
It passed. Rents on a 1 bedroom went from ~$950 to $1350, and now students are writing letters in their news papers complaining about rent costs. Thankfully, I live outside the students voting area.
They tried to pass a massive school bond here a few years ago that would have increased our property taxes by about 35% as well. Fortunately it failed, but they have already promised to put it back on the ballot again. They still managed to pass a smaller college bond last year which bumped up our taxes.
We have a lot of homeless here because the community provides housing, food, and other services for them. Almost all of them are transients, not locals, and they gravitate here because the town caters to their needs. In contrast, a similar sized town just down the coast from us has almost no homeless population despite having a very small economy, and the reason is that they don’t cater to the homeless like our town does.
I've known lots of landlords, all decent and honorable, honest people. Most just wanted a tax loss on paper, and charged at or below market rate, to offset their investments with the funds they earned through work. ALL of them could not wait to get out of renting after a year or two. Even in decent areas, renters were dead beats, late rent, damaging property, not doing basic cleaning, even suing for ridiculous crap.
My eyes were opened wide when I started selling apartment buildings. Most of the tenants were absolute pigs, even in the middle class areas. The buildings in the 'working class' areas were nightmares. A landlord would spend thousands repairing an apartment to rent to a new tenant, and within months, the place looked like it had never been repaired. I began to realize the Chinese 'slumlord' who owned a bunch of complexes in the area probably wasn't as bad as he was made out to be.
Exactly, there is a reason many landlords use cheap everything except for the plumbing.
Ikea cabinets, sink, and counter tops that can all be tossed out afterwards because the fuckers destroyed them. The cheapest White appliances because they're going to never clean & destroy them anyway.
Glued down carpet squares in the bedrooms so the damaged sections can easily be pulled up and replaced.
I knew a dude who worked as a caretaker. One of the people living in the building had broken off the faucet in their bath tub and it was just pouring water out... for like 2 months before the building noticed the insane water usage.
I have the means to buy rental property and have often been tempted over the years. The reason I've never done it though goes back to my early childhood when my parents, who were not wealthy by any means, rented out a small house they owned after we moved into a larger house. This was back in the early 1970s, and they somehow ended up renting it to a bunch of hippies, who completely trashed the place and never paid any rent. My parents took them to court and even won a judgement against them, but since they had no money my parents never collected a dime and ended up selling what was left of the house.
I have an idiotic friend of mine who once they heard they can basically not pay rent and not get evicted, despite not losing their job just stop paying rent and instead use that money to buy a new car that they will otherwise never be able to afford, trick out new car with new rims and other Frivolous purchases.
Soon that gravy train is going to end and they will get evicted with tens of thousands of dollars in back rent can get their credit destroyed, likely get the car repossessed to, etc. No one said these idiots were smart.
None of those fuckers will ever be able to rent again. Expect liberal cities to pass laws prohibiting not renting to them, and expect landlords to find a dozen ways around those laws.
I have a relative that has been evicted more than once and was still able to rent again, but it wasn't easy. Usually someone they know takes pity on them and rents to them.
A lot of larger multifamily investors I know used to say they only buy in "the sunbelt" states or "landlord friendly" states.
Now most have cut the BS and just say straight up they're only buying in red states.
The west coast economy is going to be having issues for a long time after this, and useful idiots like Josh here is not only sowing the seeds of his own destruction, but likely being set up to reap what he sows on a very unpleasant way!
I don't think so. I once rented space in a house that was sold and was told that if we weren't smart enough to have gotten out prior to the sale we would have gotten the boot. New owners can do whatever they want with their property.
i think if they intend to rent it, they have to keep the current tenants to the end of their contract. If the new owner intends to live in the house themselves they can kick them out.
I have a special eviction service I use. 100% effective, and quicker and cheaper than court. Only had to use it a couple of times because I screen the shit out of tenants, but its' been great when I needed it.
Sure, sex is great, but, have you ever lived in Venezuela, or the Soviet Union, and tried to get food after 10 am, or a toaster? How about a refrigerator?
Sometimes I wish they had the old definition of landlord where the landlord could just take 75% of his tenants disposable income (but only for little shits like this guy)
Unpopular opinion: landlords should have 100 percent say of who can occupy their premise. And if the tenant breaks contract, they should be able to be kicked out regardless of whats going on in the world. And if the tenant refuses to move out, leathal force can be used to remove said tenant because its unlawful occupation of the landlords property.
When the ban on eviction ends, it's going to get really ugly. I have 4 landlords for my business. All of them are being kept up at night because most of their tenants aren't paying. In one strip center, that is full btw, we were approached by the other tenants to go work out a deal with our landlord on paying rent. We found out we were the only business paying in full and on time every month. Hyper inflation is coming. We're going to look like Venezuela within the next 10 years. Invest your USD into property, gold, or crypto while it's still worth something
My mother had a very nice older gentleman (Sam) renting the house door to her. A couple of months ago, a for sale sign showed up in front of Sam's house. At the same time, he was given an eviction notice. The house was in escrow within a few days. Sam's landlord apologized because he had to sell. None of his other tenants were paying rent, and were protected from eviction by WA state COVID laws, and he needed to money to save his other rental properties. Only those not paying their rent or mortgage are protected from eviction. Sam always paid his rent and therefore, had no COVID protections and could be evicted. honk honk
I am hoping that someone found this Twitter quite by accident because I hope the person who thinks this, who is this ignorant, doesn’t know how to get on patriots.win
Both commercial and residential renters haven't paid rent in NY since 3/20 and Cuomo just extended that to 5/21. AOC has called for the cancellation of rent and courts have been closed and not allowed to issue ANY evictions. It's disgusting. Despite that the real estate taxes have sky rocketed.
Not all tenants are parasites, but therr sure are a lot of parasites that are tenants.
The difference being, a landlord has a much more difficult time taking advantage if a tenant than the other way around.
Meh. Landlords are a relic of feudalism and greedy scumbags who are too lazy to get a job and would rather live off the hard work of others and make house prices unaffordable
Then Josh gets the house burned down in the night and Josh is on the street because the rental agreement is void if the house is nonexistent
Meh, it's his choice to get out or not...
People that have never worked hard for anything of worth in their lives, disdain people who do. The feeling is mutual.
Well said!
Then Josh has to find a new place to live while his former landowner black lists his credit
Fucking little shits. Luckily he's probably on the west coast and renting from other left wing folks. Let them all fuck each other.
Then the landlord’s bank repossesses the building and turns it into a parking lot. Enjoy sleeping under the bridge, Josh.
Or the landlord suddenly has massive work to do on the property that involves lots of hammering and running chainsaws all day long for days on end...
Workorder to replace the doors and windows...
Oops, ran out of funding halfway through the project due to lack of rent.
I like this one 😂
And then rental supply goes down forcing rents up... again.
And Josh's next landlord hopefully checks his history and Josh doesnt get a new rental.
This is why I just sell and buy property. Fuck being a landlord to these bitches.
Good news is the new Chinese investor found a cheap property!!! Let's jack up that rent and make it impossible to save for a down payment to become a property owner yourself
Classic commie proud of stealing. Congratulations when chyna buys the building and demos it.
Josh will squat in the rubble as long as he doesn’t have to pay for it.
And squat he shall
What likely will happen is the landlord is going to raise everyone's rent to help offset the cost of this loss.
I used to almost never raise rent on good tenants. Then the city (Portland, Oregon) started limiting how much I could raise the rent. Me and every other landlord then started raising it by the maximum amount every year. After a few more years of more restrictive laws, I sold all my Portland properties to owner occupants, decreasing the available supply of rentals.
It's the same in the whole state of Oregon now. I live on the coast in a town where the Democrats are constantly whining about the lack of "affordable housing" while also passing massive school bonds every election that raise our already high property taxes ever higher.
Seaside!
Florence
Ah. Seaside just spent $100,000,000 on a new school, and it's sliding down the hill.
They tried to pass a $108.7 million bond measure here a few years ago to build a new high school. It didn't pass, but they have already said that they are going to try it again.
Leading up to the bond measure the district instructed maintenance personnel to only work on items that were a direct threat to student safety, so they purposefully neglected routine maintenance and allowed things to fall into disrepair in order to justify the need for a new school.
You should see the shit they try and pull in my town. The local news is in on it. Every 3 or 4 years (I've since stopped watching TV) they would talk about raising taxes for a school bond, wtf. So, the news program would show one of those removable ceilings, with the foam boards that are in 2X2 sections. They would show a long electrical cable hanging down onto a desk. Amusingly, they used this same shot each time, just 3 years apart! One legislator got so disgusted that he said "Let's give them $1, so they can get one of those foam boards and get that cable back into the ceiling!"
Used to live in that shithole town. Wouldn't surprise me that they rushed the project even under advice not to. City counsel is full of corrupt individuals.
In a small college town, with zero homeless and tons of university facilities the students recently pushed a ballot measure. They wanted to fund a homeless shelter (there were no homeless) a women shelter, and an LGBTQAAIP2S+ shelter. The city already owned about a dozen homes that were empty that they would use for temporary housing for something like a women shelter. The ballot measure raised property taxes rates 2.6%, which translated to about 35% increase in the amount of property taxes paid. It was ridiculous, and was rejected by the city which is why the students pushed it as a ballot measure.
It passed. Rents on a 1 bedroom went from ~$950 to $1350, and now students are writing letters in their news papers complaining about rent costs. Thankfully, I live outside the students voting area.
They tried to pass a massive school bond here a few years ago that would have increased our property taxes by about 35% as well. Fortunately it failed, but they have already promised to put it back on the ballot again. They still managed to pass a smaller college bond last year which bumped up our taxes.
We have a lot of homeless here because the community provides housing, food, and other services for them. Almost all of them are transients, not locals, and they gravitate here because the town caters to their needs. In contrast, a similar sized town just down the coast from us has almost no homeless population despite having a very small economy, and the reason is that they don’t cater to the homeless like our town does.
I've known lots of landlords, all decent and honorable, honest people. Most just wanted a tax loss on paper, and charged at or below market rate, to offset their investments with the funds they earned through work. ALL of them could not wait to get out of renting after a year or two. Even in decent areas, renters were dead beats, late rent, damaging property, not doing basic cleaning, even suing for ridiculous crap.
My eyes were opened wide when I started selling apartment buildings. Most of the tenants were absolute pigs, even in the middle class areas. The buildings in the 'working class' areas were nightmares. A landlord would spend thousands repairing an apartment to rent to a new tenant, and within months, the place looked like it had never been repaired. I began to realize the Chinese 'slumlord' who owned a bunch of complexes in the area probably wasn't as bad as he was made out to be.
Exactly, there is a reason many landlords use cheap everything except for the plumbing.
Ikea cabinets, sink, and counter tops that can all be tossed out afterwards because the fuckers destroyed them. The cheapest White appliances because they're going to never clean & destroy them anyway.
Glued down carpet squares in the bedrooms so the damaged sections can easily be pulled up and replaced.
I always factored replacing the carpet into the rent. You know, for the pets they’re not supposed to have.
I knew a dude who worked as a caretaker. One of the people living in the building had broken off the faucet in their bath tub and it was just pouring water out... for like 2 months before the building noticed the insane water usage.
I have the means to buy rental property and have often been tempted over the years. The reason I've never done it though goes back to my early childhood when my parents, who were not wealthy by any means, rented out a small house they owned after we moved into a larger house. This was back in the early 1970s, and they somehow ended up renting it to a bunch of hippies, who completely trashed the place and never paid any rent. My parents took them to court and even won a judgement against them, but since they had no money my parents never collected a dime and ended up selling what was left of the house.
Man I'd knee stomp them per every dollar owed
I have an idiotic friend of mine who once they heard they can basically not pay rent and not get evicted, despite not losing their job just stop paying rent and instead use that money to buy a new car that they will otherwise never be able to afford, trick out new car with new rims and other Frivolous purchases.
Soon that gravy train is going to end and they will get evicted with tens of thousands of dollars in back rent can get their credit destroyed, likely get the car repossessed to, etc. No one said these idiots were smart.
I’ve heard that the lack of payment hits their credit/rental history too and they will have a hell of a time finding a new spot.
None of those fuckers will ever be able to rent again. Expect liberal cities to pass laws prohibiting not renting to them, and expect landlords to find a dozen ways around those laws.
I have a relative that has been evicted more than once and was still able to rent again, but it wasn't easy. Usually someone they know takes pity on them and rents to them.
Can confirm. I have a relative that has been evicted more than once.
Ilhan Omar has a Bill to forgive all rent and mortgage payments until April 2022
I have a bill to send her back to Somalia
Of curse she does.
Idiots usually aren’t smart buddy
I would like to subscribe to your newsletter
im looking into commercial properties and this sort of shit terrifies me.
A lot of larger multifamily investors I know used to say they only buy in "the sunbelt" states or "landlord friendly" states.
Now most have cut the BS and just say straight up they're only buying in red states.
The west coast economy is going to be having issues for a long time after this, and useful idiots like Josh here is not only sowing the seeds of his own destruction, but likely being set up to reap what he sows on a very unpleasant way!
Luckily I am in a good red area of a red state, but still it terrifies me that even middle class renters are trash.
Knowing how the local judge/magistrate feels about evictions is key. Two cities right next to each other handle evictions completely you differently.
As well it should.
That's just sad
Renter wouldn't get evicted, the rental contract would transfer to the new owner (unfortunately)
Who in their right mind is going to buy a rental property in this environment knowing he can never collect rent?
Chyna
And then the judge will rule in their favor evicting Josh so they can jack up the rent.
My plans are on hold for sure. Sucks but gives me time to save up for a better property.
I don't think so. I once rented space in a house that was sold and was told that if we weren't smart enough to have gotten out prior to the sale we would have gotten the boot. New owners can do whatever they want with their property.
i think if they intend to rent it, they have to keep the current tenants to the end of their contract. If the new owner intends to live in the house themselves they can kick them out.
Kick them out. If they aren’t paying rent this will make no difference short term. Live there one month. Rent it out again.
If the new owner says, "No, I'm keeping it all for myself," then changes that policy one month later, the previous renters are out of luck.
In what state?
And if the "New Owner" wants to turn it into a parking lot?
“It's better to keep your mouth shut and appear stupid than open it and remove all doubt”
― Mark Twain
So I can just move into your place rent free, huh Josh?
Yes. Josh thinks sex is great...who is the unfortunate fool that has sex with this loser?
Someone who he pays with the money he owes the landlord.
I have a special eviction service I use. 100% effective, and quicker and cheaper than court. Only had to use it a couple of times because I screen the shit out of tenants, but its' been great when I needed it.
Good news is that this guy won’t be reproducing.
Josh is a no class dumbshit.
Sure, sex is great, but, have you ever lived in Venezuela, or the Soviet Union, and tried to get food after 10 am, or a toaster? How about a refrigerator?
It's the little things, you know.
Sometimes I wish they had the old definition of landlord where the landlord could just take 75% of his tenants disposable income (but only for little shits like this guy)
What an asshole
Unpopular opinion: landlords should have 100 percent say of who can occupy their premise. And if the tenant breaks contract, they should be able to be kicked out regardless of whats going on in the world. And if the tenant refuses to move out, leathal force can be used to remove said tenant because its unlawful occupation of the landlords property.
When the ban on eviction ends, it's going to get really ugly. I have 4 landlords for my business. All of them are being kept up at night because most of their tenants aren't paying. In one strip center, that is full btw, we were approached by the other tenants to go work out a deal with our landlord on paying rent. We found out we were the only business paying in full and on time every month. Hyper inflation is coming. We're going to look like Venezuela within the next 10 years. Invest your USD into property, gold, or crypto while it's still worth something
My mother had a very nice older gentleman (Sam) renting the house door to her. A couple of months ago, a for sale sign showed up in front of Sam's house. At the same time, he was given an eviction notice. The house was in escrow within a few days. Sam's landlord apologized because he had to sell. None of his other tenants were paying rent, and were protected from eviction by WA state COVID laws, and he needed to money to save his other rental properties. Only those not paying their rent or mortgage are protected from eviction. Sam always paid his rent and therefore, had no COVID protections and could be evicted. honk honk
I am hoping that someone found this Twitter quite by accident because I hope the person who thinks this, who is this ignorant, doesn’t know how to get on patriots.win
I would just sabotage the building. Cause some sort of water issue that I just can't afford to fix die to cash flow problems.
https://nypost.com/2021/03/13/nyc-landlord-homeless-unable-to-evict-deadbeat-tenant/?
Take a look at this article from the NY Post. Amazing times we live in...clown world.
the hate for "landlords" is the most childish arbitrary grade-school shit I've ever seen.
it's like naming you group "anti-fascist" and thinking that gives you permission to do absolutely anything to anyone.
my question: were people always this dumb or has something been put in the water?
Then the CDC buys the property at discount rates and Fauci smirks even smirkier.
Mask in profile picture. Opinion discarded.
Go in, kick em out. Fuck the law and the courts.
Stealing is wrong. I hope conservative 20 somethings get that rent/evection freezes are “literally” stealing money from another person.
Getting your college debt cleared is also stealing. It takes money from others the same way repetitions would.
then he will move and do the same thing somewhere else because somehow he's not hanging from a tree for being a fucking commie!
Both commercial and residential renters haven't paid rent in NY since 3/20 and Cuomo just extended that to 5/21. AOC has called for the cancellation of rent and courts have been closed and not allowed to issue ANY evictions. It's disgusting. Despite that the real estate taxes have sky rocketed.
It's all part of the plan. Who do you think buys up all the property in the next step of the great transfer of wealth?
Josh is a silly cunt. Don’t be like Josh.
Not all landlords are parasites, but there sure are a lot of parasites that are landlords.
Not all tenants are parasites, but therr sure are a lot of parasites that are tenants. The difference being, a landlord has a much more difficult time taking advantage if a tenant than the other way around.
Meh. Landlords are a relic of feudalism and greedy scumbags who are too lazy to get a job and would rather live off the hard work of others and make house prices unaffordable
Sounds like some commie bullshit.
Aww, the truth has triggered downvoters who love their parasite socialism landlords