An Investor Killed!!!!!!!!
Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
An Investor Killed!!!!!!!!
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Bruce WoodruffPro Member
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votesQuote from @Account Closed:
So the people that invest in the neighborhoods need to invest in the community and that should be a mandatory requirement
How about the community gives enough of a crap about itself to invest in itself? Naw, that would make way too much sense....
Well, just have the Govt take over all the property in the inner city and run it, that'll fix things! Oh, wait....they already have and that's even worse.
Nothing will change until people - regardless of color - get a f'ing clue and take responsibility for themselves, their actions and thoughts, their families and their neighbors (communities).
Stop blaming skin color, lack of money, investors, Govt, and anybody and everybody else. This is about personal responsibility and nothing else...
92 Replies
- Birmingham, AL · Member since 2017 · 39 posts · 26 votes3y
I had a tenant killed in a class D property i owned in Birmingham AL.
Duplex acquired for 9k cash rehab 15k, grossing 1.5k /mo. The property was a cashflow COW however I had to sell it strictly because I did not want to deal with that tenant class anymore.
I agree with @Jay Hinrichs Getting rid of the worst parts of my portfolio has freed up my brainpower and ability to maneuver in real estate. - Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes3y
@Akin Okegbile as stated I'm gravitating away from class d, but something pulling 1.5k right of the break Id sit on that for a minute. It will be over 2k one day. I have one class d left and it has the best tenants Ive ever had. I'm not anywhere near 1.5 but its building equity every month and kind of runs itself.
- 3yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Quote from @Mark Cruse:
@Akin Okegbile as stated I'm gravitating away from class d, but something pulling 1.5k right of the break Id sit on that for a minute. It will be over 2k one day. I have one class d left and it has the best tenants Ive ever had. I'm not anywhere near 1.5 but its building equity every month and kind of runs itself.
Nothing is worth your health or your life, my man....
- Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes3y
Quote from @Bruce Woodruff:
Quote from @Mark Cruse:
@Akin Okegbile as stated I'm gravitating away from class d, but something pulling 1.5k right of the break Id sit on that for a minute. It will be over 2k one day. I have one class d left and it has the best tenants Ive ever had. I'm not anywhere near 1.5 but its building equity every month and kind of runs itself.
Nothing is worth your health or your life, my man....
I understand all that but it's all business. It's rough and can be not a good look, but people who know what they are doing make themselves wealthy through this on a consistent basis. My point here is I have done class Ds since I've been in the business and I don't anticipate dying or being seriously harmed. I am migrating away from it because I'm capable of coming in at a much higher level; however, If I'm making 1.5 to 2k cashflow I have the skills, talents and business savvy to make it rock for awhile. As stated I'm done with class d for the most part but if some incredible deal just fell out of the sky into my lap I can squeeze it for a lot of cash until I'm ready to pass it on. I still have one on this level and its running itself building wealth with cash flow and equity. Just depends on the situation!
- 3yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
I gotcha......I'd just hate to be on here in a year going, where is @Mark Cruse ?
- Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes3y
@Bruce Woodruff yea, that would emphatically suck. However, when you step out of your door ya have risk. A lady on my job who recently had a baby died snorkeling last month. A few years back a bunch of logs fell off of a truck on a ladies car at the red light and killed her. The bear story speaks for itself. I just try to be very careful and anticipate everything. I even used to collect rent in cash and I thought they could be setting me up but it worked out. I think being Black, 6ft and 250 helps but you never know. I didnt get rid of my class ds for the danger; I just didnt feel like doing the extra work at this stage of my career. I have the resources where I dont have to but if a cash cow just appears in my face I can work it for awhile until it gets on my nerves.
- Rental Property Investor · Burlington County, NJ · Member since 2019 · 540 posts · 771 votes3y
Kudos to you. The beauty of real estate investing, as others have said on this thread, is that there are opportunities for returns across all markets and niches. I applaud every investor who knows their strengths and weaknesses and applies them to secure returns.
STRs or note investing, for example are not for us. But we're doing well with by-the-room renting in working class markets combined with higher end MTRs, efforts some would find too hassle-filled. We do not do class D investing, but know people who do it well and profitably.
As the saying goes, the riches are in the niches.
Thanks for sharing the story and prompting the dialogue which I've enjoyed reading.
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Mark Cruse:
Quote from @James Hamling:
Quote from @Joe S.:
Quote from @James Hamling:
And now were getting to the heart of things arn't we, that there is some toxic cultures.
These days US is decaying so fast with skyrocket crimes and people that doesn't understand "culture".
In other hands Asia country and even Middle East is enjoying higher status due to their "work hard" culture.
30 years and the condition is truly opposite.
Only the strength of US Dollar is still shielding US from total chaos. From rampant crimes to disfunction politics. Even U.S. bonds has been degraded LOLIn CA it doesn't matter, regardless of Class A,B,C,D you still got robbed and the gov. is happy about it LOL
- Member since 2020 · 671 posts · 937 votes3yI just think you're being pragmatic! haha. With a 2k cashflow, I'd either do it myself or pay someone good money to do it for me if I was that scared. Even if I paid a 20% management fee, I'm still doing pretty good.
Quote from @Mark Cruse:
Quote from @Bruce Woodruff:
Quote from @Mark Cruse:
@Akin Okegbile as stated I'm gravitating away from class d, but something pulling 1.5k right of the break Id sit on that for a minute. It will be over 2k one day. I have one class d left and it has the best tenants Ive ever had. I'm not anywhere near 1.5 but its building equity every month and kind of runs itself.
Nothing is worth your health or your life, my man....
I understand all that but it's all business. It's rough and can be not a good look, but people who know what they are doing make themselves wealthy through this on a consistent basis. My point here is I have done class Ds since I've been in the business and I don't anticipate dying or being seriously harmed. I am migrating away from it because I'm capable of coming in at a much higher level; however, If I'm making 1.5 to 2k cashflow I have the skills, talents and business savvy to make it rock for awhile. As stated I'm done with class d for the most part but if some incredible deal just fell out of the sky into my lap I can squeeze it for a lot of cash until I'm ready to pass it on. I still have one on this level and its running itself building wealth with cash flow and equity. Just depends on the situation!
- Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes3y
I would not be able to do Class D (and really not even Class C) because I don't rent to prior evictees or felons, and you are going to have a large percentage of both in Class D. I'm glad someone else does it, and I'm glad they make good money from it because they deserve it. For myself, I simply have no desire to deal with that segment of society. I wouldn't make a good Class D landlord because I'm unsympathetic to most of the issues that land people in Class D housing. And I'm someone who grew up in a lot of Class D (and F if you consider the ghetto F) housing. I know who's there and I understand most of them are there based on a never-ending string of bad decisions, few of which ever improve.
Skyline Properties - 3yJohn MorganPro MemberRental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
@Mark Cruse
I deal with some rough people. One lady did time for murdering her cousin. Another did time for attempted murder. I’ve got several that did prison time and several former homeless people that nobody would take in. I spend time with these people and build trust. We’ve all made poor choices and only one person is perfect. Several have mental illness and society sort of kicks to the curb. I’ll give people another chance if I get a good feeling from them and they stay drug free. I’ve had one house get lit up 3 different times from drive by shootings. Some of these hoods and people I deal with are outside of my socio economic bubble or comfort zone at times. Lol. But I really enjoy it all. It’s definitely not for everyone.
- Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes3y
Quote from @John Morgan:
@Mark Cruse
I deal with some rough people. One lady did time for murdering her cousin. Another did time for attempted murder. I’ve got several that did prison time and several former homeless people that nobody would take in. I spend time with these people and build trust. We’ve all made poor choices and only one person is perfect. Several have mental illness and society sort of kicks to the curb. I’ll give people another chance if I get a good feeling from them and they stay drug free. I’ve had one house get lit up 3 different times from drive by shootings. Some of these hoods and people I deal with are outside of my socio economic bubble or comfort zone at times. Lol. But I really enjoy it all. It’s definitely not for everyone.
Wow, that is far beyond what I have dealt with, at least what I know of. I do believe in second chances but this is a business and I''m curious about how many you have that can remain stable on a consistent basis. For me, I have to sift through so many to find the the ones that can steadily pay, maintain a job and not be involved in chaos. I have never serviced mentally ill , murders or homeless. I applaud you! I take that back; Im sure several of mine were mentally ill, but still that is a lot on your plate. I thought selling drugs on my steps were bad but hit 3 times with drive bys???? My goodness...........
- 3yJohn MorganPro MemberRental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votesI’ve had a few that had a hard time keeping up with rent. They all moved on. All my tenants now are solid and I hope they all stay for many years. I only have 3 rent by the room houses and I enjoy it. The other 15 are LTR and I rarely ever hear from most of them.
Quote from @Mark Cruse:
Quote from @John Morgan:
@Mark Cruse
I deal with some rough people. One lady did time for murdering her cousin. Another did time for attempted murder. I’ve got several that did prison time and several former homeless people that nobody would take in. I spend time with these people and build trust. We’ve all made poor choices and only one person is perfect. Several have mental illness and society sort of kicks to the curb. I’ll give people another chance if I get a good feeling from them and they stay drug free. I’ve had one house get lit up 3 different times from drive by shootings. Some of these hoods and people I deal with are outside of my socio economic bubble or comfort zone at times. Lol. But I really enjoy it all. It’s definitely not for everyone.
Wow, that is far beyond what I have dealt with, at least what I know of. I do believe in second chances but this is a business and I''m curious about how many you have that can remain stable on a consistent basis. For me, I have to sift through so many to find the the ones that can steadily pay, maintain a job and not be involved in chaos. I have never serviced mentally ill , murders or homeless. I applaud you! I take that back; Im sure several of mine were mentally ill, but still that is a lot on your plate. I thought selling drugs on my steps were bad but hit 3 times with drive bys???? My goodness...........
- 3yDave KushPro MemberFrankfort, IL · Member since 2022 · 204 posts · 132 votes
I think this depends on where your properties are at. In general, I have had greater issues when investing in lower income areas.
That's not simply saying, never buying low income areas. Those people need housing solutions too. We just have to make sure that we are safe when in difficult areas.
I still work a day job, at a school. There have been instances of people being shot while working schools, but I don't quit my job. I just have to be safer and more vigilant. This story sounds like a sad message to that effect in real estate.
My biggest violence issues have been with lower income tenants. I've been physically threatened, but never attacked. Good property Management strategies will drastically reduce the likelihood of having those kinds of issues with tenants though.
Even when renting, people regard the property is their home. Emotions can run high.
- Inspector · MD · Member since 2019 · 27 posts · 0 votes3yIt wasn't a mistake someone wanted him gone.
Quote from @Mark Cruse:
I recently decided to sell off portions of my portfolio but I've been in the class d arena my entire time in the business. There was a young investor killed in Baltimore not long ago and it still bothers me. Yea, people die daily in major cities but this one really hit home. He was simply renovating a property and was shot dead outside of it. Man, I can write a book on my in the hood stories and had my share of chaos but I was able to always mitigate stuff. However, this could have been anyone. I just sold my south Baltimore properties and that was the same area which had 28 shot a few weeks back. How frequent is it for investors to face violence? I dont hear about much but it could just be the circle I'm in. What are your horror stories?
- Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes3y
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