My Triplex is Gross - Am I A Slumlord?

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My Triplex is Gross - Am I A Slumlord?

Account Closed
Rental Property Investor · Oakland, CA · Member since 2018 · 28 posts · 31 votes

Hi Everyone! I am new to the forums, but I love the Podcast. Thank you in advance for listening.. here goes...

My husband/partner and I found a great triplex property in (Deep East) Oakland, CA. This area was pretty rough a few years back, but it's getting better and better.

About the property:

  • Triplex cash flowing at about $350 per door at current rents
  • This is an ugly house. Aside from lots of junk and trash in the house, everything needs to be updated. I am not afraid of an ugly house. In fact, I love a good ugly house to gut and make beautiful again.
  • It is currently fully occupied. Current rents are very high. Based on size and location, it is renting at about $500 more than normal because tenants are Section 8. They have been there for years and looks like they like where they live. If these were not Section 8 tenants, based on the condition of the unit, rents would be much much lower. More on that below…

Here’s my plan:

As mentioned earlier, the triplex is gross (carpets are gross, kitchens are old, bathrooms are mildewy, etc). The units are dilapidated. When I close on the property scheduled in a couple of weeks, I plan to dump money only on necessary safety issues like fixing the water heater, fixing some roof issues, fixing a broken window, etc. - normal stuff and nothing crazy. I also plan on cleaning vegetation on the outside of the property. Lastly, I will have my property manager enforce rules for cleaning the outside.

Here’s my dilemma/my emotion:

Ideally, if the units were empty (my normal preference), I would completely fix the units and update the baths and kitchens and actually aim for the rent that it is currently going for. But, since the rents are already high and the units occupied - I feel like my job is sort of complete and the investment seems more like a turn-key property.

I like the rents on this place and I know I can save the profits towards renovating it later. I am not in the business of kicking people out and to be honest I don’t have a lot of money to do a complete rehab of the property right now so I look forward to saving. I plan to renovate the interior when a tenant moves out and I can get the entire place empty then bring it up to higher standards because 1) I know I can’t rent it out for much at this current condition and 2) I want to actually provide a nice home for someone.

When I walked into the units, I felt disgusted. I don’t like the idea that I will own something that I don’t feel comfortable to walk into. On the other hand, if the tenants are okay living in this type of place and don’t complain, do I need to make changes?

Questions for you:

  • Do you think I should feel bad about the situation?
  • Have you ever been in this type of situation and felt the same way as I did? How did you maneuver through it and what did you end up doing?
  • I know Section 8 has a bad rap, but have you ever had a positive experience?
  • Do you own any places that you didn’t like/wouldn’t live in?
  • How do you or your property manager handle dirty tenants?

Thank you for your time. I appreciate it.

8Reply
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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
7y
Originally posted by @Account Closed:

Hi Everyone! I am new to the forums, but I love the Podcast. Thank you in advance for listening.. here goes...

My husband/partner and I found a great triplex property in (Deep East) Oakland, CA. This area was pretty rough a few years back, but it's getting better and better.

About the property:

  • Triplex cash flowing at about $350 per door at current rents
  • This is an ugly house. Aside from lots of junk and trash in the house, everything needs to be updated. I am not afraid of an ugly house. In fact, I love a good ugly house to gut and make beautiful again.
  • It is currently fully occupied. Current rents are very high. Based on size and location, it is renting at about $500 more than normal because tenants are Section 8. They have been there for years and looks like they like where they live. If these were not Section 8 tenants, based on the condition of the unit, rents would be much much lower. More on that below…

Here’s my plan:

As mentioned earlier, the triplex is gross (carpets are gross, kitchens are old, bathrooms are mildewy, etc). The units are dilapidated. When I close on the property scheduled in a couple of weeks, I plan to dump money only on necessary safety issues like fixing the water heater, fixing some roof issues, fixing a broken window, etc. - normal stuff and nothing crazy. I also plan on cleaning vegetation on the outside of the property. Lastly, I will have my property manager enforce rules for cleaning the outside.

Here’s my dilemma/my emotion:

Ideally, if the units were empty (my normal preference), I would completely fix the units and update the baths and kitchens and actually aim for the rent that it is currently going for. But, since the rents are already high and the units occupied - I feel like my job is sort of complete and the investment seems more like a turn-key property.

I like the rents on this place and I know I can save the profits towards renovating it later. I am not in the business of kicking people out and to be honest I don’t have a lot of money to do a complete rehab of the property right now so I look forward to saving. I plan to renovate the interior when a tenant moves out and I can get the entire place empty then bring it up to higher standards because 1) I know I can’t rent it out for much at this current condition and 2) I want to actually provide a nice home for someone.

When I walked into the units, I felt disgusted. I don’t like the idea that I will own something that I don’t feel comfortable to walk into. On the other hand, if the tenants are okay living in this type of place and don’t complain, do I need to make changes?

Questions for you:

  • Do you think I should feel bad about the situation?
  • Have you ever been in this type of situation and felt the same way as I did? How did you maneuver through it and what did you end up doing?
  • I know Section 8 has a bad rap, but have you ever had a positive experience?
  • Do you own any places that you didn’t like/wouldn’t live in?
  • How do you or your property manager handle dirty tenants?

Thank you for your time. I appreciate it.

- Ysabel

 Do not expect the tenants to live the way you live. Tenants are going to live how they live. Some live in very clean & tidy units. Others are complete savages. It is what it is. Your job as a landlord is to provide safe & habitable housing in exchange for rent. Nothing more, nothing less.

I see new landlords freak out when they get a tenant who's a total slob living in their unit. Their 1st gut reaction is to evict the tenant because the house is disgusting. Why? What does that solve? All you're doing is removing an income stream & then spending a bunch of money to fix it up to rent to the next tenant who may be better or be worse. Doesn't make any financial sense.

If the house is already nasty you don't want to remove an income stream unless they are doing something to the home that could continue to cost you more money down the road which is rarely the case when you're at this point. If it smells, & has writing all over the walls it doesn't really matter. You're going to pay about the same amount of money & need to do the same renovation if you remove them now or keep collecting the rent for the next 5 years until they move out on their own.

Take a look at these steps from one of our rental properties below.

Those steps are friggin' nasty. What good would evicting the tenant who lives in a property with steps like that do though? How does spending money on the turnover while loosing an income stream make your business more profitable? Those nasty steps are going to cost the same (or similar) amount of money to clean, fix & paint today as they will 3 years from today. Turnovers are the biggest return killer in this business. Do not create unnecessary turnover & do not expect the tenants to live how you live. You don't need to feel comfortable walking into their homes at all. They aren't your friends or your family. They are your tenants, nothing more, nothing less.

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  • Chris Szepessy
    Catskill, NY · Member since 2018 · 636 posts · 668 votes
    7y

    I only own two rentals plus my primary, but I'll try to help.

    1) You shouldn't feel bad. You didn't make the tenants live this way, it's how they choose to live. 

    2) N/A

    3) I did PM years ago and it seemed for every 10 Section 8 tenants, 1 would be really good. Depending on the location/demographics of the building, your quality of potential tenants may not be that great.

    4) N/A

    5) There is really no way to force someone to be clean. "You can take the person out of the slum, but you can't take the slum out of the person." You can threaten eviction, but even if they do clean their place up, it will only be for a short while. 

    I would do exactly what you intend to do. However, I would make sure the outside of the house is in decent condition and there's no garbage, cars on jack stands that haven't run in years, and other junk making the house look like an eye sore in the neighborhood. 

    6Reply
  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    7y

    Welcome to East Oakland.

    Do what it takes to keep it from catching fire or flooding or ordinance violations, but otherwise just update the units as tenants cycle out.

    FYI this isn't unusual for Sec 8 in Oakland, for rents to be sky high that is. Some use it as a strategy, a tool in their tool-box. 

    7Reply
  • Kenneth GarrettPro Member
    Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
    7y

    @Account Closed

    I understand where you are coming from. I buy distressed properties, sfh, mf and student housing. I fix them up first, rehab, rent and refi them (BRRRR).

    My strategy because I need to refi them I am able to force appreciation and generally have no money stuck in.  By updating them I end up with better tenants and higher rents.

    I bought a property a couple of years ago that was run down, but was rented.  It’s pretty rough but cash flows nice.  I am banking the cash flow and as tenants move out I will rehab the units.  The trouble with all the deferred maintenance buildings repairs are constant at the beginning.  When I rehab the properties I rarely get maintenance calls.

    Section 8 or not I have my own definition of slum landlord.  I choose to spend money where others won’t  as I feel my reputation will benefit me in the future.

    Good Luck.

    5Reply
  • Jim S.
    Sterman, MI · Member since 2017 · 378 posts · 306 votes
    7y

    Fix the safety issues. Why put money into it fixing it up when that will lower your rent??? Enjoy the gold mine.

    10Reply
  • Dennis M.
    Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
    7y
    In low income markets it’s all about maintenance and safety not trying to beautify the property . Gross tenants make a gross building . Trying to do “ niceties “ for the units is a waste of time and money with many tenants . Poor people have poor thinking habits and they will not “change their spots “ so you need to accept that . If you have a leaky roof busted windows or dead furnace or water tank you must fix this regardless of tenant class . But stuff like painting the exterior new siding and landscaping should come last in your long term strategy .if your getting 350$ a door you should reinvest capital back into the property so it doesn’t fall to pieces
    10Reply
  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y

    as others have said. Do the minimum to keep it safe and in compliance with the city and the housing authority. The thing that is going to make it tough is that you cant renovate one unit as it becomes vacant, and expect a better tenant, and waiting for all units to become vacant at the same time will be next to impossible unless you evict.

    6Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Account Closed:

    Hi Everyone! I am new to the forums, but I love the Podcast. Thank you in advance for listening.. here goes...

    My husband/partner and I found a great triplex property in (Deep East) Oakland, CA. This area was pretty rough a few years back, but it's getting better and better.

    About the property:

    • Triplex cash flowing at about $350 per door at current rents
    • This is an ugly house. Aside from lots of junk and trash in the house, everything needs to be updated. I am not afraid of an ugly house. In fact, I love a good ugly house to gut and make beautiful again.
    • It is currently fully occupied. Current rents are very high. Based on size and location, it is renting at about $500 more than normal because tenants are Section 8. They have been there for years and looks like they like where they live. If these were not Section 8 tenants, based on the condition of the unit, rents would be much much lower. More on that below…

    Here’s my plan:

    As mentioned earlier, the triplex is gross (carpets are gross, kitchens are old, bathrooms are mildewy, etc). The units are dilapidated. When I close on the property scheduled in a couple of weeks, I plan to dump money only on necessary safety issues like fixing the water heater, fixing some roof issues, fixing a broken window, etc. - normal stuff and nothing crazy. I also plan on cleaning vegetation on the outside of the property. Lastly, I will have my property manager enforce rules for cleaning the outside.

    Here’s my dilemma/my emotion:

    Ideally, if the units were empty (my normal preference), I would completely fix the units and update the baths and kitchens and actually aim for the rent that it is currently going for. But, since the rents are already high and the units occupied - I feel like my job is sort of complete and the investment seems more like a turn-key property.

    I like the rents on this place and I know I can save the profits towards renovating it later. I am not in the business of kicking people out and to be honest I don’t have a lot of money to do a complete rehab of the property right now so I look forward to saving. I plan to renovate the interior when a tenant moves out and I can get the entire place empty then bring it up to higher standards because 1) I know I can’t rent it out for much at this current condition and 2) I want to actually provide a nice home for someone.

    When I walked into the units, I felt disgusted. I don’t like the idea that I will own something that I don’t feel comfortable to walk into. On the other hand, if the tenants are okay living in this type of place and don’t complain, do I need to make changes?

    Questions for you:

    • Do you think I should feel bad about the situation?
    • Have you ever been in this type of situation and felt the same way as I did? How did you maneuver through it and what did you end up doing?
    • I know Section 8 has a bad rap, but have you ever had a positive experience?
    • Do you own any places that you didn’t like/wouldn’t live in?
    • How do you or your property manager handle dirty tenants?

    Thank you for your time. I appreciate it.

    - Ysabel

     Do not expect the tenants to live the way you live. Tenants are going to live how they live. Some live in very clean & tidy units. Others are complete savages. It is what it is. Your job as a landlord is to provide safe & habitable housing in exchange for rent. Nothing more, nothing less.

    I see new landlords freak out when they get a tenant who's a total slob living in their unit. Their 1st gut reaction is to evict the tenant because the house is disgusting. Why? What does that solve? All you're doing is removing an income stream & then spending a bunch of money to fix it up to rent to the next tenant who may be better or be worse. Doesn't make any financial sense.

    If the house is already nasty you don't want to remove an income stream unless they are doing something to the home that could continue to cost you more money down the road which is rarely the case when you're at this point. If it smells, & has writing all over the walls it doesn't really matter. You're going to pay about the same amount of money & need to do the same renovation if you remove them now or keep collecting the rent for the next 5 years until they move out on their own.

    Take a look at these steps from one of our rental properties below.

    Those steps are friggin' nasty. What good would evicting the tenant who lives in a property with steps like that do though? How does spending money on the turnover while loosing an income stream make your business more profitable? Those nasty steps are going to cost the same (or similar) amount of money to clean, fix & paint today as they will 3 years from today. Turnovers are the biggest return killer in this business. Do not create unnecessary turnover & do not expect the tenants to live how you live. You don't need to feel comfortable walking into their homes at all. They aren't your friends or your family. They are your tenants, nothing more, nothing less.

    21Reply
  • Tami R.
    Clive, IA · Member since 2013 · 141 posts · 89 votes
    7y
    I learned from a landlord a long time ago that just because someone doesnt live like you and me doesnt mean we are slumlords. Now the l landlord that said this to me I would consider a slumlord because he will put people in properties that are not safe etc ... but heres my thought. 1. My standard of living is different from others. I have rental properties that I have a hard time going into just because when I bought the property they were cash flowing the tenants were great. The property is safe. Had plumber and electrician fix what needed but tenants are a little slow and messy but its their home and they love it. They've lived there for 10 years the outside looks good... I will need to completely remodel it when they move but they aren't going anywhere for years and I'm not kicking them out. If something needs fix we get it done... just a different style of life
    4Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    7y

    You sound too emotional to be investing in real estate. You are allowing your personal feelings to interfere with wise business decisions. The number one rule in this business is ..... there is no place in business for emotions.

    The building is what it is, tenants are what they are, do not fix what is not broken.

    Make it safe, make it clean, do not spend a dime improving what is perfectly adequate the way it is. You are not a NGO charity you are a business and you need to learn how to properly operate a business suited to the area you invest in. You do not inject your standards into the properties you invest in.

    If you want nice and fancy invest in A class properties.

    7Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    since they are section 8 your going to have section 8 annual inspections and they will tell you what you need to fix to keep the tenant in the program.

    and being the Bay Area those section 8 tenants do not want to risk losing this free rent money.. its brutual in bay area for rentals as you know.. thats why your buying one there. 

    Plus i dont think its as easy as hey your a slob so i am evicting you..  at least in the bay area.. 

    like @Thomas S. mentioned if you dont like it dont buy that asset class it never really changes.. the peeps are the peeps.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    8Reply
  • Mary M.
    Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
    7y

    I would not be able to own such a unit without fixing the issues and bringing it to safe,  CLEAN housing. while it may be what the tenants are living in, they probably would prefer different. 

    Anyway, this is why i dont buy section 8 housing that is in bad condition.  I just cant stomach allowing someone to live in such conditions on my dime. 

    2Reply
  • Mary M.
    Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
    7y
    Originally posted by @Thomas S.:

    The number one rule in this business is ..... there is no place in business for emotions.

    I dissagree, as do most business owners that i know. It is possible and even preferable, to be ethical and aware when you invest. Capitalism is based on self interest (an emotion) so using emotions to your benefit is one aspect of being sucessful. 

    7Reply
  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    7y

    My take is completely different than all the others. Because they are Section 8 tenants they took whatever space was available at the time, though overpriced. The units are in terrible condition. Is it due to lack of maintenance on the part of the owner? It sounds like it. So the question is, do you continue taking advanatage, charger higher than market rents for substandard units, in order to have more cash flow? 

    At the bare minimum, if roofs leak, leaky faucets, water damage and dry rot on floors, filthy carpets, worn out paint, etc. do what is expected as a property owner maintaining your investment. 

    If they are slobs that have garbage piled all over the place, etc. then I wouldn't put more into it. If however; they take pride in their home, and but for the outdated, worn out, old parts of their apartment they'd have a nice, home, then invest in beginning improvements. 

    It's to your benefit to keep maintenance up, and improve the units. 

    4Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Account Closed:
    @James Wise thanks for keeping it real with me! I appreciate the visual, too. Your feedback means a lot.

     Anytime. As you grow your rental business Just remember a few things.

    1. Running rental Real Estate is a brutally savage business. 
    2. It's all about perspective. Things that shock you today will eventually become mundane.
    3. It could always be worse. Like this lovely visual I have provided for you below. 
    5Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Account Closed:
    @Jay Hinrichs thanks Jay. The thing is though, I do feel that the neighborhood and asset class are changing. I have a multi unit a few blocks away. The previous owner rented to Section 8 tenants, but after fixing it up I was able to put well qualified working professionals and know that my renovation updates won't go to waste since I have forced its appreciation and set to get my money back out in a few months. Thanks again.

    I think the issue will be moving the folks.. that cost money .. at least from what I have heard in the bay area.. and it can cost a lot of money you have to pay the tenant to move..  but you would know better than me since you already own rentals there. 

    but if they move on their own volition.. then I am thinking you upgrade at that point..  might be tough putting prime renters into a situation were 2 of the 3 are section 8.. but who knows with housing being so tight there might no matter 

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    JLH Capital Partners51 Review
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    1Reply
  • Account Closed
    Rental Property Investor · Oakland, CA · Member since 2014 · 730 posts · 1k+ votes
    7y

    @Account Closed a lot of good advice above.

    I have several buildings in deep East Oakland (80s and 90s), and 15 of my 27 tenants are Section 8. Every new vacancy we are converting to Section 8. 

    Feel free to reach out if you want help/tips working within the program and dealing with OHA. 

    2Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    7y

    @Mary M.

    I dissagree, as do most business owners that i know. It is possible and even preferable, to be ethical and aware when you invest. Capitalism is based on self interest (an emotion) so using emotions to your benefit is one aspect of being successful.

    I could not disagree more than with your perspective on business.

    Business ethics is the study of proper business policies and practices regarding potentially controversial issues such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities

    Capitalism, a system of privately-owned, for-profit businesses.

    Neither of these have one iota to do with emotion. You are simply trying to put emotion into it to suite your needs. Emotions have zero to do with being successful financially and usually are a hinderance. If you research the most successful business owners/executives you will discover a very large number are actually sociopaths ( your president for example). Being devoid of emotions is a asset in making financially wise decisions although not necessarily a asset one would strive to have. Emotions are a handicap in business that must be overcome to be able to achieve maximum profits. Success on the other hand is a individual measurement. 

    We are therefor talking about two separate topics...success and maximising profits. They are not the same thing and although feeling successful is a emotion, being successful is not.

    .

    1Reply
  • Jill F.
    Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
    7y

    We recently bought a seven unit with three vacancies in what I consider to be apalling condition. I was hoping to be able to leave the existing tenants in place and then move them into renovated units (at higher rent). However, it turned out that three of the five tenants had so many very serious "personal issues" that we had to non-renew their leases.

    "I can't help how people live" is the mantra of slumlords everywhere. It's your building. You can help how people live in your building and some situations are just NOT ok. 

    That being said, I am not the housekeeping police, tenants don't have to fix up their place "cute" to be good tenants.  Sometimes it is difficult to know where to draw the line-- for me the following situations are not ok:

    • any conditions that would allow a tenant to escrow rent,  must be fixed immediately. 
    • any evidence of a hoarding risk,
    • Any evidence of hard drug use or any drug sales,
    • Filth to a degree that would attract vermin or pests,
    • Smoking in a renovated unit,
    • evidence of destruction by tenants or pets (holes in doors, urine/stains on carpet, cigarette burns)
    • Outside conditions that are unsafe or that vary from the norm for the neigborhood.
    7Reply
  • Philip Williams
    Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    7y

    Man I am surprised a lot of the posters here are sounding exactly like slum lords. I would never own a place I was embarrassed to walk inside. I have a couple section 8 units and they are the same quality as everything else I own, shame on a lot of you in this thread. 

    12Reply
  • John Clark
    Member since 2018 · 1k+ posts · 1k+ votes
    7y

    "As mentioned earlier, the triplex is gross (carpets are gross, kitchens are old, bathrooms are mildewy, etc). The units are dilapidated."

    -------------------------------

    Dilapidated and worn is not a health issue. Mildew, mold, water leakage, lead paint, rotting carpets, etc., IS a health issue. You say that the tenants like where they live.

    Fix all the health issues. That not only keeps you one step ahead of the health department, but gives you tenants loyal for life, which is a huge plus.

    2Reply
  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    7y

    Maybe if the units were improved, the tenants would take more pride in them. It's hard to say for sure, it could be they're just lazy slobs, and no matter what the conditions, they wouldn't take care of the place. On the other hand, maybe they spend all the money they have just paying rent, and no matter what they do, it doesn't seem to help, so why bother? The devil is in the details. 

    Not sure of the issues, but if there's mold, mildew, water damage, old dirty worn out carpets, old paint, dripping faucets, missing tiles, or ? how nice would your house look, and how motivated would you be?  On the other hand, if they're just lazy slobs, I'd kick them to the curb asap, upgrade units and get better class of tenant. 

    0Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    7y

    @Philip Williams

    "I would never own a place I was embarrassed to walk inside."

    It is not appropriate to judge others by your own personal standards. It is OK for you to not want to own C/D class properties but not appropriate to judge those that do. Simply because you are not equipped to operate in that environment does not make those that do slumlords.

    Business practices are adapted to the business environment you choose to operate in.

    A slumlord is a owner that chooses not to spend money on maintenance allowing a property to deteriorate and become unsafe. A landlord that invests in a C/D class community that properly maintains a building to a safe and clean level is not a slumlord.

    You may be embarrassed by how a tenant maintains their unit but this has little to do with how a landlord may maintain the building infrastructure. Landlords that choose to upgrade a property ultimately leave no place for the poor to live. Collateral damage as the result of capitalism.

    1Reply
  • Philip Williams
    Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    7y

    I have read several things you have posted @Thomas S. and we disagree on almost everything. She said the carpets are gross, that could lead to health issues for tenants with respiratory issues. She also said the bathrooms have mildew, I assume you know mildew is a type of mold also unsafe to breathe. She also said etc....further insinuating there are more undisclosed issues that are not purely aesthetic. 

    I never said I don't own C/D class properties, I am very equipped to operate in that environment and resent the fact you think you have to operate a dilapidated property in order to invest in C/D class rentals. Her property is clearly not safe and clean as she has admitted, right now she is a slumlord like it or not. 

    Please do not try and lecture me on upgrading a property and leaving no place for the poor to live. I provide affordable housing to the poor and do not gentrify neighborhoods. You talk a good game but as someone who has read hundreds of your comments you care not at all about the poor, you only care  about profits and could care less about the collateral damage of capitalism. 

    15Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Philip Williams:

    Man I am surprised a lot of the posters here are sounding exactly like slum lords. I would never own a place I was embarrassed to walk inside. I have a couple section 8 units and they are the same quality as everything else I own, shame on a lot of you in this thread. 

     My man that's an incredibly short sited & naive way of thinking. You're telling me you'd be willing to cost yourself thousands upon thousands of dollars attempting to remove people from their homes because they don't keep them tidy enough as to not embarrass you?

    I suspect you haven't gone through the court system more than a handful of times. What hasn't even really been mentioned yet is how incredibly difficult it'd even be to evict a paying tenant for living like a savage.

     Not to mention I imagine you feel this way because you view those who sound like "slumlords" as the bad guys. Lol try tossing out some paying tenants & see how quickly the general public & court system turn on you. 

     You've got no idea how much money you'd be throwing away loosing court case after court case. That's no way to run a business.

    0Reply
  • Philip Williams
    Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    7y

    @James Wiseundefined

    Who said anything about removing people from their homes? Read every post I wrote not once did I say anything of the sort. Your whole post is nonsense you mention me going through the court system evicting a paying tenant. You mention tossing out a paying tenants does anything you wrote have anything to do with anything I wrote? I NEVER SAID OR HAVE ADVISED ANYONE TO THROW OUT A PAYING TENANT. Please copy and paste any comments from this thread where I said I evicted or advised someone to throw out a paying tenant what a joke your entire post was. Perhaps you were responding to someone else lol?

    4Reply
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