Being A Landlord Ain't For The Weak

[True Blue Moon]

Slick Rick was right

 

[⠀X ⠀]

They make it hard for the good people to rent.

 

[⠀X ⠀]

It's definitely not passive income like some people like to pretend
Depending on which state you operate in it can be extremely stressful, a lot of landlords are leaving my area because the local laws are so tenant/squatter friendly. People hate on landlords but you much prefer mom and pop landlords than corporations buying up all the inventory, so making it harder for ppl like me is ultimately a bad thing

Being a landlord ain’t worth it unless you have multiple units. Like 25+. Then you can hire a property manager and have mostly passive income.

 

[TAYLONDO SAMSWORTHY]

Electric chair

 

[CodeKansas]

Not easy, not easy, not easy at aaaaalllllllllllll.

 

[Wargames]

I wonder would he have protections if he took on section 8 tenants?

 

[desjardins]

It ain't at all. My homegirl lost money. Her tenants went 2 months without paying rent. In GA they gotta be behind 2 months before you can evict. Then the tenant gets 2 months of squatters rights.

My homegirl went 4 months without rent then gotta sue to get the rent that owed.

And the place was a mess.

In Philadelphia it can take up to a year to evict someone. There are all kinds of extensions and appeals the person can file and kick the can down the road by stretching out court dates
There is actually a program call the Eviction Diversion Program where landlord and tenant have to work with a mediator and try to come to some sort of compromise. That buys the tenant 30 days before the landlord can even file the eviction, well really buys them 60 days since they need to miss rent before even entering the program

 

[BBG]

 

[Legal]

I suspect some aren’t doing background employment check,,

U cant just let people stay in your property these days without some kind of insurance or legal liability

I'd argue that only are they not doing background checks, but they're also not doing anything WITH that information. Breh made it sound like he knew the tenants had some bad credit or rental history, and rented to them anyway. Whoever these renters were aren't shyt, but you gotta take proper steps to protect yourself, especially when you're trying to do someonr a solid.

Also gotta make sure you have appropriate insurance for renting. At this point, unless breh has a a decent amount set aside to repair the home, his upper end of ideal outcomes might be getting fukked by someone looking to buy and flip just to minimize his losses.

 

[Belize King]

I got one property but I don’t manage it. Rather pay the 10% out of the rent than deal with tenants.

Even if I lived down the street, managing isn’t worth it. My sister manages her property in the Bronx. She rent it out to an acquaintance and has been taken advantage of for the last 3 years.

Two years ago, my 6 year old AC went out. 8k later I got a new one. That blew all of my “profit” for the year.

Last year, my shed “caught” on fire. Insurance covered 8k worth of damage. I dropped 13k on a new shed, water heater, and electrical work.

Build wealth through properties Brehs.

 

[Coco Loco]

I turned it off when he said he gave them a place to live when nobody else would

There's a reason why. Not blaming but that was a flaming red flag. I hope he recognizes that next time

 

[Sterling Archer]

Im locating the previous tenants
Revenge will be served

I got everybody’s ssn and history information to ruin the shyt for the rest of their lives. Play with the right one and trashing my place will be one of the worst decisions you could make.

 

[Ezekiel 25:17]

Being a landlord ain’t worth it unless you have multiple units. Like 25+. Then you can hire a property manager and have mostly passive income.

Are you a landlord?

Even having 5 units bringing in $7500/month sounds worth it.

 

[Illuminatos]

Can someone check in on this dude? Bro was crashing out at the end there saying he was gonna shoot her and shyt.

 

[Field Marshall Bradley]

You mean with people who are landlords? We should put 'em on a list of people who should be completely without rights.

Freeriders have no place in society. Rights aren't inalienable, they have to be earned. If you want protection from violence and such then you first need to show that you're a decent human being who is not a parasite. Landlords don't qualify for that so they shouldn't get our protection in any way. It's a waste of resources.

Here’s one of the weirdos right here