Tenants are the reason there are slums.  

Many are rough on the places they rent.  Not only don't they care, they have the mentality of a renter.

OP - Sounds like you want everything at once but it takes time.

You dug yourself a hole too with that single full-time dad thing going on.  

I know "everyone" makes kids and then splits up but it is a factor in your situation.

Not quite. He's gonna piss off his boss and his buddy, so he must be planning to insult them, rather than simply say "No thanks I need a little more room than that for my boy." Which shows the real difference between boomers and millennials.

Ya pay what the market will bear

Good renters are fucking hard to find.

Calling the guy a slum lord is ridiculous. So he should abandon the property or sell at a loss because the neighborhood isn't great? Sounds like entitlement on your end. This post reeks of entitlement.

Congrats on achieving the American Dream (tm) by old-fashioned determination and hard work. Owning rental properties has been the ticket to building wealth for many people. Landlords provide a needed service, many times while living in one of their units and forgoing immediate gratification i.e. the brodozer, latte, rimz lifestyle. BTDT myself. Not to the degree you describe but a lot of the same stuff.

I've realized that the "renter" class is a different culture than the "striver/owner" class. Aesop's Fables "Ant vs grasshopper" comes to mind.

Speaking of "providing a service", one could make a case that pawn shops, payday loans, buy here pay here car lots, etc. are all providing needed services. Like landlords, they wouldn't exist if they didn't have customers.

ETA: I have a friend that owns a small number of properties. He's grown accustomed to the late/no payers, tenant class people, and the risk factors. I don't envy him, and I would not go back into that business.

You'll own nothing and you'll be happy.

I too hate private property OP. It's really all that hard work that individuals have turned into symbols of wealth, right? Burn the patriarchy OP! It's not your fault OP, not your fault. If only things were more fair you'd own one of my houses for what a dishwasher makes.

Surely there's no valid reason why someone might not add a location. It's also totally impossible that your supposed "fed honeypot" could select a location...right?

You're newer than OP and pointing fingers, might be best to do a little less talking.

It usually seems that way

I give my tenants a good place to live while they pay me a fair price. I do respond immediately if there's issues with one of my units. That's what makes a good landlord, imo.

Their properties, their rules.

OP fails at imagination and counterfactuals:  What exactly do you think would be "better" if people were not willing to buy properties in ghetto neighborhoods, put money in them, and rent them out?

Your grandparents left their country to move across the world to a country where they presumably didn’t speak the language, and you think they had it easier than you do?

If OP told us the city we could probably find a better rental for him. There are even Realtors here on the site.

Your boss and his buddy are going to be pissed because you didn't rent the house? Sounds like a bunch of drama queens.

This right here. In the same boat by busting my ass all those years to get where I am and I got so freaking tired of all the BS excuses for not paying rent, and reasons why they were not maintaining things, etc. all the while expecting you to be Johnny on the spot when they want you there. I'd say most renters have zero clue what it takes to own rental property or everything involved with insurance, taxes, liability, etc. and feel they are owed something. Should close on selling the last house this week and I'm done with that BS. People like yourself are what are still keeping this country going and I commend you brother.

The water...



...flowing underground

What exactly is it people here want to know?

I have 100ish Rentals down from 140+

People who put a high priority on the location they live, and their home tend to be better tenants than ones who don't.

You quite literally can raise the rent a couple hundred bucks a month for the same property and it's like magic you'll get better tenants. I wish it wasn't like that because I tried to do the cheap property thing and after seeing the cold hard data over thousands of months worth of rent the kind of people that go for cheap property are not tenants that you want to have. Do you want to upgrade your living situation? Find a large home and sublease rooms out. That's what they used to do back in the old days and it works still today but your average person is too foolish to consider it all these people want to complain about how good they had it back in the old days but your average person is not worthy is smart as they were back then.

Most people get shocked when they hear about the number of rooming houses or converted garages heck even converted horse sheds that the older Generations converted to living quarters.

Quality post...



...that word sorta ruined it though

Page two? No Stop Being Poor?

Fucking GD...

Thats much better ...

Attached File

OP my answer for your problem has always been a cheap fuel efficient vehicle and an hour behind the wheel each way.

Lots of confusion and consternation in here.
It's clear we can't make out own minds up and advance civilization to that bright shining utopia.
We'll need the Government to step in and manage these difficulties.
Some of us may not make it through the selection processes but we must still strive for a better motherland my comrades.

Want to make money? Be fair and screen your tenants. Be clear in your contract. Don’t rent to family or friends. Don’t fall for the foxy single lady tenant. Be vigilant.

It will only get worse.

GD: Inflation is nuts, prices are through the roof, and my money doesn’t go as far.

Also GD: How dare you complain about housing prices? I bought my house when interest rates were 12% (the house only cost 50k and I was making 25k a year). These young folks don’t know how good they have it with a 8.7% interest rate (for a 400k starter home on an income of 80k)! Quit buying your Starbucks and avocado toast!



Side note: what the fuck is avocado toast?

This.
We're at this strange place where Americans are insisting on 1990 living standards complete with their own house on a nice street.
All while extended families of South Americans will share a home and split rent six ways.

We're going to learn some painful lessons on the value of community in family over the next decade.

Those who thrive will be working with their families to achieve common goals.

I do a lot of work on rentals.
I see patterns.
First off, 99% of renters are absolute savages. They don't care. They will just trash everything out of laziness and quite simply, jealousy. Period.

Second, I see people who go into the rental game as wanting to do the right thing.....until the property goes unrented for 3 months and the mortgage needs paying.  Then they rent it to less than optimum candidates and realize they are now gambling.
Many people I know in it, shouldn't be in it in the first place. They intend on laying new carpet, or painting or other maintenance items but don't get around to it. Then it gets rented and the tenants aren't bitching about anything, so the landlord figures....What's the point, the renter seems happy and to do the work now would mean moving furniture, clothes, items and would be a big pain in the ass. So it never gets done.
These are most of the people I know. They have every good intention to provide people with a clean and comfortable place, but are not really set up financially and then get what they get. Then they just give up when their investment gets trashed. It then becomes a never ending cycle of the same until the property is so distressed, they sell.

Another pattern. My business owner colleagues. For some reason they think that to truly be successful, they need to hold rental properties. I've asked, they don't even know why they do, it's just they think they have to. They are already successful without it, and most are too busy to deal with it. And they all hate it.

And I also have clients that buy really nice  single family homes. Then they spend $ to update and put their "personal touch" on them. This raises the price on the rent and they can afford to have them sit empty until the right person comes along as is screened. They have ZERO problems. But they are around $400/mo higher on average per house. This is the situation I see working as designed. However, the people I know and work with that do this, are well off to begin with. It's more of a hobby for them. They never have issues other than normal repairs.
Their renters are people who don't want the maintenance, the tax bill or worrying about that roof that needs replacing in 2 years. Responsible people who have been there and done that. Also single people with great jobs. They have no real turnover either.

Every time I find a "deal" and think about it, divine inspiration stops me by way of a call from a landlord I work with who just walked into a trash filled, busted drywall, mouse infested trashed rental he was sure were "decent people". Stops me every time.

you must have seen my garage.

LoL. Next to truckers landlords are the second most whiny professionals.

class warfare and society envy is the polar opposite of American Values.
there is nothing about taking advantage of anyone in this case.

you have options.

better yourself to enable a higher wage
move to better employment
move to better housing

OP should go complain on Reddit.  He'll get a soft shoulder to cry on.

Supply.

Demand.

I know 3 people who bought duplexes and did that very option.
then they bought regular houses and rented out the duplexes.

Most of the time there is a reason rent is higher, it keeps most of the trash out.

In 1990 I was living in a 500 sq foot efficiency apartment with an army of cockroaches and drug deals happening outside my door. My car was hit multiple times in the parking lot. Back in those days in the DC area, some houses and apartments did not have AC (I lived in group houses like that before the efficiency apartment). Rent was about half my income.

Since you brought up other countries...in India to rent an apartment you will need to pay a three month deposit, and pay your rental agent one month of rent as their fee, and pay the landlord one month of rent as a nonrefundable "gift". So your first month costs you six months of rent, and the apartments are completely unfurnished--you have to buy your own stove, refrigerator, washing machine, etc.

I sleep like a baby................knowing the underlings are suffering.............. it makes me all warm and fuzzy inside.

Pretty accurate.  One person makes shitty life choices and then condemns the successful guy for not making the same shitty life choices to be in the same situation as him.  I don't know, maybe that's the way to do it because that mentality has worked out pretty well for a certain demographic in our society.  . .

What's even funnier is you not bettering yourself and taking every opportunity (working on his equipment) to make extra money.  Nope, just easier to sit back and bitch about 'the man holding you back.'

Boo Hoo, the landlord MIGHT be making a profit.

I got so tired of fixing up units to only have them trashed a year later.

I've had tenants not pay the water bill, and keep using the toilet. When I finally got them out I had two toilets full of petrified shit.

I've had tenants not pay for trash collection, and leave the whole back yard full of trash.

I had a Tennant in a freshly rehabbed unit stand on my new stove and bend the top of the stove. She also ripped the screens off the windows and bent a window because she forgot her keys. " It was like that when I moved in" she said. Nope. That's the same tennant that there were so many nail holes in a wall I had freshly painted a year earlier I decided to count them, I stopped at 100.

I rented to a nice couple, the husband left her, the wife left her dog at home and the dog went upstairs and crapped. She left the crap for me when she moved out.

I rented MY home to two doctors, the let their kid roller skate on my hardwood floors, launch his hot wheels into my varnished hardwood doors so they looked like they were hammered and let him walk on my tile roof. When they were leaving they wanted their deposit back. They knew I wanted to sell, so. they said. they would file a lawsuit they knew they would lose but tying the house up would cost  me more  than the deposit.

During covid you couldn't evict for non payment of rent. Do you think the rent was ever paid?

The tenants think you are a rich landlord, while all you are hoping is they don't do too much damage so when the property eventually appreciates you can make a profit.

I had rentals for 35 years, I got out of the business. I got tired of dealing with peoples shit.

The landscaping trucks are no longer on the edge of town, they're adjacent to Main Street. This is how it is now and will only get worse.  Borders have consequences.

I coworker owned 4 houses and accidentally rented all of them out, he was sleeping in his parents basement

I bet he’s doing fine these days.

I am willing to bet that part of town wasn't always this bad...as you alluded to it in your post.  

Everything is going up in price...everything. Things we always took for granted as being cheap...no more. Everyone is looking to get their blood money out of a corrupted system...that is how its going to work from now on...until something material happens.

I live in a very nice area...but I am surrounded by elitist pigs who think they know better.  A recipe for change is being mixed right now...I just don't think most will like the taste.

Well said.

I sleep like a baby.  Sorry you don't like the rental you can afford.