Help with Low Income Tenants

71 Replies

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@Dennis M. I like your analysis. Like most people on here I’m too lazy and “privileged” to handle class D properties but it’s people like you who worked their a$$ off with a hard labor job, Or 3RD world ImmIgrants, that look at this As easy work. The term “slumlord” has a negative inference, but the truth is, bad neighborhoods need slumlords as the vast majority of investors can’t handle the job .

TROLL!

In the dungeon.

Thought you should know.

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@Jacque Sacramento this isnt Facebook. People are looking for real answers to real problems. I've been seeing your post a lot over the past few days and rarely are you helpful. Try a different approach, man, this only makes you look bad.

You avoided Section 8 but one plus about it is they can help curb the nonsense. 

For example, my Section 8 tenant in one of my duplex properties claimed the 1st floor (her unit) had exclusive rights to the driveway. I told her she'd have to share it with the 2nd floor tenant. 

She told me she'd have his car towed if he parked there. And so I e-mailed the Housing Authority and explained the situation and they sent her a nice letter telling her if she caused issues she could lose her voucher and be evicted. 

Section 8 tenants don't want to lose their voucher. 

Duplex candy lady sounds cool. If she's paying rent on time she's likely going to keep paying. Since it's a D-neighborhood I wouldn't really mind if she's taking care of the place and isn't complaining about things.

Buy some vertical blinds for the other unit. You can get them absurdly cheap online. Then tell them to keep the yard clear. If they don't, take some photos for court and then give them a 30-day notice.   

Originally posted by @Account Closed :
Originally posted by @Terry Miller:
Originally posted by Account Closed:

Not a troll.   Be patient other s will chime in.   If you think Hood investing is the thing to do.   Thats great.

Answer this question, and this question only for me: is it still a "hood" due to people like YOU, or due to people like OP, and me?

 Im not interested in social justice.  I hate to see people flush good money down the toilet.  Not rocket science.

I didn't mention "social Justice." You did. I asked was it still a hood due to YOU, or to me? I think you know the answer. It wouldn't be flushed down the toilet if YOU were more like ME. I am not a rocket scientist, just a former computer scientist.

Done. I think the point is finally made.

Moderators:

If I was too "hard" on that person, I apologize.

But, in my defense, I think he is a "ghost" account of someone banned here previously. Check his IP address out.

@Avery Carl @Lucas carl Don't listen to the troll. I'm not in your market, I am in Jacksonville Florida but I have several "D" properties that perform exceptionally well and the answer to most of your questions is you don't do anything at all... As long as they are paying rent on time you let them do there thing. This is what happens with these types of tenants you wanna control it but you can't... When they move out, you make the property look the best that you can, try to keep your costs down and move on to the next one...that's it.. These properties are cash flow generators and they do so quite well I might add. I would suggest keep buying more of them.

Am I the only one who is curious about how he makes 400-600 per month in cash flow in a D area? U can rent a decent apt for 600 in a nice area, what kind of rents are you getting to cash flow that?!

@Chris Connolly As an example it is typical in D areas to buy a multifamily trIplex or quad for 35-55k Say you buy WITH a quad for 50 grand ( which is completely doable ) that rents for 500 bucks per unit , your insurance is around 500$ per year and taxes in these areas on a 3-4000 sq ft house is around 2,200 a year Thats only 2700$ a year In total expenses but your making 24,000$ on the rents . 1,775 $ profit every 30 days . Even if you financed that 50 grand you’d still get about 1300 a month in profit . This is completely doable
@Dennis M. Dennis is spot on! "D" class is great cashflow if you can handle it!! I wouldn't ever do "F class"....that's a wasteland...
@Lucas Carl What did you honestly expect? Low income is brutal. You should avoid these types of rentals lol. The people you think were trolls were giving decent advice. I heard a story today from a co worker who had a friend who’s tenants let their dog poop in the basement and then covered it up with paint. That’s the sort of thing you can expect

@Caleb Heimsoth  ok that’s completely rediculous. Read your post and ask yourself if you really believe that happened. 

Besides the property I’m referring to is 3 blocks from 400k 3 bedrooms. No one is painting poop. 

And the troll WAS a troll who got deleted from BP as per a PM from Mindy. 

Originally posted by @Lucas Carl :

@Caleb Heimsoth  ok that’s completely rediculous. Read your post and ask yourself if you really believe that happened. 

Besides the property I’m referring to is 3 blocks from 400k 3 bedrooms. No one is painting poop. 

What’s ridiculous about that lol?  He had photos.  The owners never inspected the basement so it got bad.  This is extreme but you’re gonna eventually have stories like this. 

"No one is painting poop."

He probably meant to type "they painted the floor with poop".

Truth be told anything is possible with slum tenants.

@Caleb Heimsoth  lol well when no one ever visits a property you’re going thave have problems regardless of the quality of the tenant. 

Originally posted by @Thomas S. :

"No one is painting poop."

He probably meant to type "they painted the floor with poop".

Truth be told anything is possible with slum tenants.

I’m probably mis quoting the paint but he was very clear.  They covered the poop with some sort of sealant.

Either way does it really matter lol? 

@Lucas Carl they did visit.  They just didn’t inspect the basement.  

Anyways you’re gonna have lots of issues.  Lots of evictions and lots of damage.  Good luck! 

Originally posted by @Caleb Heimsoth :
Originally posted by @Thomas S.:

"No one is painting poop."

He probably meant to type "they painted the floor with poop".

Truth be told anything is possible with slum tenants.

I’m probably mis quoting the paint but he was very clear.  They covered the poop with some sort of sealant.

Either way does it really matter lol? 

@Lucas Carl they did visit.  They just didn’t inspect the basement.  

Anyways you’re gonna have lots of issues.  Lots of evictions and lots of damage.  Good luck! 

Says the guy who’s only experience in this arena is a friend of a friend that owns one house who may or may not have painted poop but we can’t be sure. 

"They covered the poop with some sort of sealant."

I believe it 100%. Most are devoid of all normal social standards and would see no reason not to avoid having to pick up poop. If it isn't poop it is some other unacceptable behaviour. If they do not pay their rent they have zero redeeming qualities.

For the most part that is why they are where they are. They should be thankful that someone can manage them and make money off of them or they would have no place to live.

Screw the IP address, check the MAC ID.

Originally posted by @Dennis M. :
@Lucas Carl

I invest in the ghetto and I can tell you that you must learn to take these things in stride . It ain’t Beverly Hills bro ! people are going to be doing stupid things and they usually have no class or style in these areas . They are going to live the opposite of how you live and you need to learn to pick your battles in low income areas or your going to be mailing /postIng out notices every other day and you will give yourself a heart attack . When you pull up to your property and see something that boils your blood ( WhIch happens to me frequently BTW) you need to first ask yourself A - is the tenant hurting my property??? B- is the tenant paying their rent on time each month ???

 Couldn’t have said it better. This is a business and a business we chose. I cannot tell people how to live. I can only give them a clean safe place. choosing to keep it that way is up to them. As long as the rent is paid and I fix what needs to be fixed. Move on the the next one.  Good luck. 

Originally posted by @Lucas Carl :
Originally posted by @Caleb Heimsoth:
Originally posted by @Thomas S.:

"No one is painting poop."

He probably meant to type "they painted the floor with poop".

Truth be told anything is possible with slum tenants.

I’m probably mis quoting the paint but he was very clear.  They covered the poop with some sort of sealant.

Either way does it really matter lol? 

@Lucas Carl they did visit.  They just didn’t inspect the basement.  

Anyways you’re gonna have lots of issues.  Lots of evictions and lots of damage.  Good luck! 

Says the guy who’s only experience in this arena is a friend of a friend that owns one house who may or may not have painted poop but we can’t be sure. 

How much experience do you have with this stuff lol?  I don’t care if you believe me or not.  I’m just telling you what to expect 

I believe you do the best with what you have. I also believe that many people who live in the ghetto are busting butt everyday if they're working. Set the standards. Many don't have experience with standards. Absolutely, provide the blinds. I also provide a doormat and explain the floors last longer if they wipe their feet before they come in. Hit and miss but it's always worth a try. I hope you get to say in a few years that your neighborhood has improved significantly. Keep your property up so you set the bar.

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