All Forum Posts by: Dyna J.

The sad part is that its not always affordabilty. I've seen rents on par with safer, cleaner areas. Ghetto landlords have to be more "flexible" about their tenant criteria.

I agree. Ghetto menatlity is a subculture within itself. How do we go about changing it or do we even bother?

I just wanted to add to the discussion that warzone and ghetto though often used interchangably aren't the same thing. Ghettos are generally lower income areas with high rates of unemployment and people on fixed incomes (disability, social security, etc) lower property values, lower rated schools, poorly maintained properties, empty lots and an overabundance of churches, nail/hair/barber shops and liquor stores.

Warzones typically embody all the elements of a ghetto but also include overt gang activities, prostitution, drug dealing/using and lots of vagrants/homeless people. Crime is high in both type of areas however ghettos will lean more toward burglaries, auto theft, property crime and maybe event assaults (lower income people often use violence to prove their point).

Warzones will lean more toward murders, rapes, robberies and maybe even home invasions. Weekly shootings suggest that this area is seriously hot and that only the seasoned ghetto/warzone landlord should approach this.

He slept on the recliner? Thats beyond bananas! I just dont get the logic behind that. Didn't he think that he desrved better?

“We can not solve our problems with the same level of thinking that created them” ? Albert Einstein. Until they expand thier minds they may be doomed to repeat their past.

Have you ever made a mistake and years later looked back on it and said "what the hell was I thinking?". Yeah, some people never reach that point.

As I was walking home I noticed furniture and nicknacks piled on the street. ...What on earth? Then I saw the people standing next to it. With windchills below freezing I realized these folks had been put out by the Sheriff. This was something I hadn't seen since I was a child.

As tenant friendly as chicago is and the fact the illinois is a hand holding, dependence breeding nanny state this is just not a common scene.There are so many rental assistance programs, charities and other organizations its hard to believe someone would wait until this point. What? You thought the judge was joking when he told you to get the hell out?

There's a public storage facility half a block down. Rent a unit, move in with a friend and call it a day. Talk about making mountains out of molehills......

Maybe do a month to month lease with her (full market rate) after you verify how much she has in savings. I would pass if her savings were under $15k. She has no excuse if she made $50k a year and her room/board were paid by someone else.

I realize that the stated rent is only for one side. In my opinion she can live there and still cashflow. If this is the best she can do then she should go for it otherwise I'd hold out for something better.

You're only going to recieve $600 in rent so after your mortgage, taxes and insurances what do you have left? What money will you use to pay the handyman/plumber/electrician/etc? What about other expenses like lawncare/snow removal? Some kids playing baseball in the street cracks one of your windows? Your tenant leaves suddenly and your place is vacant for a month. Is all that coming out of your pocket?

It really depends on your area though. If the inventory is low or priced high this may be the best that you can get.

So whats your goal for this property? I dont really see how you can cashflow from it, are you considering it for its built in equity/future appreciation?