All Forum Posts by: Phillip Gainey

I kid you not!

I don't know how she managed it, but she did! She had to be evicted and stole the damn appliances when she moved!

http://www.youtube.com/watch?v=KRgB2eeHZEw&feature=fvwp&NR=1

http://www.youtube.com/watch?NR=1&v=TswMeHnh2cA

This really pisses me off! I work hard and pay taxes to support people like this! CUT THEIR STINKING PROGRAMS!

Illegal alien problem? How about making people like her to their jobs! She looks able bodied. Needs an attitude check, obviously, but she can work in the "hospitality" industry, Food packing, whatever!

Thanks for listening.

Uncle Phil

P.S. I WANT MY APPLIANCES BACK!

Yes, there might well be food riots in urban areas. Also, "entitlement" riots when government gets cut back. This is why I look very carefully at city and neighborhood demographics, yes including race, when investing.

Would you want to invest in area populated by people who have this type of mental programming once the cuts happen?

http://www.youtube.com/watch?v=_Ojd13kZlCA

They might just steal your freaking appliances when they move out!

I was in Singapore last two weeks. My host didn't have fox news. Had to get coverage of the protests from Bloomberg. Pretty slanted. Trying to prop these idiots up.

Anyway, Obama has painted himself into a corner. He has bailed out WS big time. He can't have it both ways. Trying to hold himself out to his far left base as the defender of the downtrodden against the big bad corporations.

I remember Chicago 1968. The far left radicalism displayed during that protest tainted the democrats during that year's election. The more radical the current protest get, the more it will turn off middle of the road independents. That will hurt Obama.

I do get a kick out of the inane comments of the protestor kids. Reminds me of the counter culture nonsense spouted in the late 60's. Those people are now the professors, teaching the same crap to the kids on Wall Street.

Time for the adults to take over again.

PG

P.S. Like, Nixon's a pig man. Can you dig it?

What's the difference between a zombie and a tenant?

They both eat you alive, but zombies don't make excuses.

Scott,

Why did you give them the keys without a signed lease and cleared security deposit check?

PG

It's really getting out of hand. Just returned from Asian trip. Apparently, walking dead zombies gained access to one of my properties. Half eaten arm in the bushes, eyeballs all over the yard! Makes me angry! The city won't do a damn thing about it!

I HATE ZOMBIES!!

That is what my current Memphis PM said. But he was talking about a nice area in Fox Meadows, not a "rough area".

Then what difference does it make if one has a PM who let's tenants get away with "stuff like that". Which you posted in another thread.

Get tough, and the tenants will steal the dang appliances when they move out, and have the neighbors sabatoge that rental unit's future operation. Like stealing for rent signs as fast as they go up. And like you said, the cops won't do anything.

Lay back and you get screwed as well.
It's a no win situation. Best to just stay out of cities with that kind of culture.

Face it, in some cities, like Memphis, Detroit...etc., you can't win and it's better to just stick to the suburbs, or other areas with a better, more responsible culture that respects private property.

And if you reply with "yeah but the cash flow is great", then please factor in the extra "babysitting" costs.

PG

I was just informed today that the neighbors in my recently vacated Memphis property (located in good neighborhood of Fox Meadows) have stolen three "for rent" signs from the yard. The tenants stole the appliances when they left.

It's not just a "rough vs non-rough" issue. It's the underlying culture and demographics of the city and neighborhood. Is it a place where people look at things in terms of the "haves" and "have nots", so "get what you can? In some places, again non-rough, it's not considered shocking to move out of a rental with the landlord's appliances. It's more like "You go girl! Ain't that landlord who charged you late fees?! Don't worry, will take down his for rent signs after you leave!"

PG

I have posted quote and verse about our "invest in Memphis out of state" experience in other threads. I won't rehash here. I will name names. Lubin PM, and Poplar PM.

We will never invest in minority cities or neighborhoods again, ever! Whatever the income level (first property rented for 1200 in SE Memphis, so not talking about "hoods") Detroit, Cleveland, Atlanta, Memphis where ever. Call me an old bigot, and put me on Jesse Jackson's list, I don't care. I'm in RE to make money, not to change society.

PG,

P.S. I wouldn't go to biker bars to enjoy a "quiet" drink either.

I will stick with working class neighorhoods in the suburbs. With the recent RE crash, there are great properties in neighorhoods where going to eviction court is not considered a necessary social rite of passage.

The rule of buying only where you would live is a good one. I personally would only live in a neighborhood where I don't stick out racially or economically. So I stick with vanilla suburbs. Red states, red counties, red municipalities is optimal. But that is just me. I currently own in SouthBend/Mishawaka IN, Detroit suburbs, and (unfortunately) Memphis.

Phil Gainey,

Chairman, "Shut up and Pay the Freaking Rent" Party.