Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

28,237
Posts
41,399
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,399
Votes |
28,237
Posts

Another minority Landlord devastated by government intrusion

Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorPosted

74-year-old black woman, not paid rent for two years and the tenant refuses to even sign the form for rental assistance. This poor woman is held hostage by a criminal tenant...and an unjust, illegal government policy.

Think it's rare? Listen to what the attorney says.

Landlord Can't Get Rent Relief Because Tenant Ref…: https://youtu.be/QUb47GMK4-c

  • Nathan Gesner
business profile image
The DIY Landlord Book
4.7 stars
168 Reviews

Most Popular Reply

User Stats

5,466
Posts
13,781
Votes
Jim K.#3 Investor Mindset Contributor
  • Handyman
  • Pittsburgh, PA
13,781
Votes |
5,466
Posts
Jim K.#3 Investor Mindset Contributor
  • Handyman
  • Pittsburgh, PA
Replied

@Nathan Gesner

Come on, Nathan, look at it, this is the same basic deal as your last "example" of a screwed landlord!

The landlord doesn't want to identify herself, is 74 years old, the obvious peeling paint all over the rental property, completely overgrown front shrubbery, tenant/LL communications have completely broken down, "Not a cent of rent since February 2019" = $31,000, 21 months at about $1480/month for that D-class crapshack. And into debt she's gone instead of selling the crapshack, no pay on the water, etc.

You live by the sword, you die by the sword.

THE MORATORIUMS ARE UNFAIR. THE GOVERNMENT EXISTS TO SCREW US AS LANDLORDS. WE COMPLETELY AGREE. But you keep on dredging up these sob-story examples of marginally competent self-managing landlords who are, surprise-surprise, being run out of business by COVID adversity.

If you're going to self-manage down at the lower end of the property spectrum, you had better be made of sterner stuff than this lady. THE WHOLE WEBSITE KNOWS YOU KNOW THIS. There isn't a day that goes by here in the forums that we don't get another example of someone failing down in C/D-class properties who simply isn't smart (or savage) enough to survive in this business. They put the tenant in place and expect rent to come in like manna falling from heaven. Yeah, it ain't like that.

I know what you're going to say. Her business model was working pre-COVID, she shouldn't be run out of business by the government. Sure. But something was going to stomp this woman out of the business soon enough. The moratoriums went into place in March 2020. The tenant here, again, hadn't paid rent since February 2019. What was the 72-year-old landlord doing for those 12 months where there was no moratorium? Twiddling her thumbs and hoping that Jesus would intervene and knock out the rent?

Loading replies...