Mayor Woodfin: "Dear slumlords...Clean up your properties. Now."

[Michael Panik]

The comments can be very insightful. Easy enough to scoff at something like this, but if you want real market feedback from the most disgruntled people in your market, read them carefully.

https://www.facebook.com/Mayor...

[Jay Hinrichs]

Quote from @Jim K.:

Quote from @Scott Mac:

Doesn't section-8 check the welfare units in Birmingham (???)

Or are these units serving the needs of people who for whatever reason can not qualify for section-8 (???)

And what about the Homeowners in the so called SLUM areas with rundown properties, will they too have to "Spruce them up" (???)

Does Birmingham have a big population of "Down and Outs" who do not qualify for Section-8 (???)

This will probably drive rents up. 

 And here's your daily dose of political populism from Alabama. This crap ALWAYS drives rents up.

one of my longest standing clients  owns probably 200 sfrs a a few MF.. HIm and I owned about 35 together at one time before he bought me out.  Hedge funds are big competition especially conrex that was noted in some of the comments..  dont know H 2  .. but we all know on BP if you have ever owned in these areas and C D class  .. its a never ending fight.. landlord IE BP member out of state buys their cash flow dream rental.. You know going to live off of rents etc.. first year goes good maybe .. then they get that tenant that trashes the unit.. then a squatter then they have their house broken into and everything stripped..  condenser units stolen like crazy  etc etc.. then they just give up and walk away and get blamed by the very neighbors who did not take the time to help watch their property or it was their cousin that came over and stole everything when the tenant left..  LOL.. like James Wise says this is a Savage end of the industry. And it plays out in EVERY city that has huge amounts of Quote un Quote cash flow C and D class rentals.. Its the tenant base  full stop.