Lanlord goes to collect rent finds aparment in ruins

The Bilingual Gringo

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We had them for about 2 years, the rent we collected covered the mortgages for the buildings and our own house in Philly. But then heating costs went up and we're getting hit with outrageous oil bills :merchant: After selling off, paying off the business debts and our own personal stuff, we pretty much broke even. :manny:

I heard that being a landlord isn't all that it's cracked up to be. A lot of people I know that have done this learned the hard way.
 

Commander in Chiefin

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I heard that being a landlord isn't all that it's cracked up to be. A lot of people I know that have done this learned the hard way.

I hated it. Then again, I was 24, working a fulltime job, and dealing with 18 units in my off time. Every weekend, and sometimes weeknights, were spent fixing or painting some shyt. Driving around collecting rent, showing vacant units etc. Plus Reading is a shytty city, with shytty people. I would try it again on a smaller scale, 2 family home, and in better city.

Also, renter's laws fukk over landlords in the long run. It's :mindblown: that a landlord can take a tenant to court for rent and then be told that the tenant can stay 30, 60, 90 days rent free until they find a new place. :what:
 

Rawtid

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There is always flack given to slum lords, but slum tenants exist and should be punished.
 

CJ

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Dude had a great sense of humour about it. :laugh:

The filled bottles of piss and the Mount Everest height of shyt stained toiler paper though :mindblown:
 

cornercommission2k12

so this were u dudes went
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couple friends of mine wanted me to get in on purchasing some property, specifically some town homes out in riverdale il. they were going pretty cheap and they were banking on all of us rehabbing the town homes renting them out, mainly hustling for them sec. 8 checks and making a profit

these cases are exactly why i turned down the opportunity.

this was about 3 year ago.

earlier this year these same friends who purchased about 12 units are trying to sell them now and is knee deep in debt because of them, mainly because so many people rented out the homes and didnt pay the rent and left them with major water bills and so much going in to repair the damage they were left with nothing for profit and struggling to pay back the bank. just a whole mess

real estate is a risky business.
 
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