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Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16693
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Quote:
Originally Posted by bluesclues5
Pics of the Ferrari and McLaren, preferably in front of said 5000sf house where you are also renting out the basement?
Obviously you doubt me, but I’m not going to waste my time with you with a picture. Why didn’t you ask for me to stand in front of it with a drivers license, tax return, and deed to the house and title of cars lol.
If you aren’t as lazy as you seem, search cd. Both cars I’ve posted pictures of in the past.
I’m also on Ferrari and mclaren forums so you can see them there.
Why would I show you a picture of where I live?
But if you doubt a 5000 sq ft house with a live in basement exist, just search a real estate site and look for homes with daylight walk out basements and you will see many listed where they have been converted to living spaces. Then go and look at rentals sites and you them available for rent.
I’ve been here on Cd for a long time. I’ve posted many times about rentals, roi, etc. and how I was able to quit working because of them.
Did you actually read his post? He said he raised rents 57%, then 2.75%.
My scumbag response was to the other poster that was calling landlords scumbags and that they should get jobs.
Mom and pop landlords are investors too.
He put $30,000 and 18 months into it and really made an entirely new rental unit. He didn't take the same place someone was renting and then raise the rent 57%. The 57% was probably market value for a rental that had the upgrades he put in. A renovated home rents for a different price than a dilapidated one. And I'm guessing he didn't have a renter in there during the renovation, so it's not like he had a 15-year renter than suddenly rose the rent 57%.
In the apartment I lived in for 18 years, there were 7 apartments altogether. He raised the rent small amounts (was $650 a month when I moved in and $813 when I moved out after 18 years). But after people moved out, then he'd have the entire apartment renovated and then re-rent it for higher rent. The building was very old, from the 20's, and the apartments all looked very dated and in need of updates, but when he redid them they looked like magazine apartments. It only makes sense that they would rent for much more than an apartment with 20 year old Brady Bunch orange shag rugs and old vinyl floors where the stains wouldn't come out (the location was absolutely amazing, so I didn't care about that, in fact I replaced the bathroom and kitchen floors myself with his permission). But he wouldn't have renovated and raised the rent while I was living there. Even though I was there 18 years, some of my neighbors were there much longer and it was the same with them.
That's different than simple opportunism to me. Those people that buy the trailer parks and don't do anything except triple the land use fee to a bunch of old people on fixed incomes are opportunists to me. Really almost carpetbaggers IMO.
I don’t think anyone would call him a scumbag for raising rent 2.27%. It’s the people who have raised rent 30% 40%, that are the problem. And that’s a fairly recent thing.
I don’t even think individual mom and pop landlords are the problem at all, I think it is investors that are doing this. Not just with apartments, a big thing for investors right now is mobile home parks and trailer parks. They buy them and raise the land use fee from 300 a month to 1100 a month. I even saw a seminar about this, where the person teaching it said if the person can’t afford the increase, they will most likely abandon their home because they can’t afford to have it moved, and then the investor gets to keep that and rent it to someone else. I am not privy to any year to year increases on those properties; but, they turnover so frequently they are capturing at least 90 to 100% of full market rent most of the time (and they are never vacant more than one month).
The very significant increase in foreign and corporate investment in our real estate is IMO one of the driving factors of massive price increases.
I own in a tract home complex where I have been here since it was built. The house across the street from me was a rental day one. The house next to it was owner occupied for the first six years and then a mom and pop investor bought it. The house next to me on one side was an owner occupied single family home for 14 years and then it finally sold to a mom and pop investor. I know for a fact they charge full market rate rents every time those places are up for lease (which is unfortunately fairly frequently as I am always dealing with people moving in and out).
I agree that there are people from other countries investing in our real estate. However it is also large US companies and hedge funds.
Obviously you doubt me, but I’m not going to waste my time with you with a picture. Why didn’t you ask for me to stand in front of it with a drivers license, tax return, and deed to the house and title of cars lol.
If you aren’t as lazy as you seem, search cd. Both cars I’ve posted pictures of in the past.
I’m also on Ferrari and mclaren forums so you can see them there.
Why would I show you a picture of where I live?
But if you doubt a 5000 sq ft house with a live in basement exist, just search a real estate site and look for homes with daylight walk out basements and you will see many listed where they have been converted to living spaces. Then go and look at rentals sites and you them available for rent.
I’ve been here on Cd for a long time. I’ve posted many times about rentals, roi, etc. and how I was able to quit working because of them.
Nah bro, I'm a car enthusiast and admirer. Most people drool over Ferrari's, but the average Joe doesn't know McLarens.
I'm also into real estate, having a handful of properties myself so I'm looking to you for inspiration.
I just find it odd that you have a 5000 sf house, 2 exotics, but are renting out the basement.
It's called greed. The property management companies are pulling in record profits and raising rents at will with no repercussions given no regulations or oversight is in place in most cities/states. The Orlando area (where I live) has the dubious distinction of having the lowest average income of all major metro areas and has rental values on par with cities where salaries are 30% higher, making for some scary inequity situations for the nearly 50% who identify as renters here. Many are fixated on the exit door to states where one can live comfortably, versus the monthly struggle.
Ding Ding! It all has to do with greed. My landlord raises the rent and yet, fixes nothing. The house was bought, by my landlord, and has since paid it off. And yet, she keeps raising the rent. Some people want to say it's because the landlord is paying extra for things, but it's greed. That is all it is.
Ding Ding! It all has to do with greed. My landlord raises the rent and yet, fixes nothing. The house was bought, by my landlord, and has since paid it off. And yet, she keeps raising the rent. Some people want to say it's because the landlord is paying extra for things, but it's greed. That is all it is.
then why cant you move?
or file a complaint?
No one forces you to put up with a greedy landlord who does not keep up the property??
Does anybody have actual data on how much rents have increased over time in their locality or for various metro areas in the United States?
I know a place which I used to rent for $600 back in 2000-2003,it has been renovated with gym,new pool,the rent is now $1250.
If you can find a small one bedroom apt in that area for under $1k,you should take it.
apparently there are water shortages on the west coast...lots of lakes and reservoirs drying up. Seems like some think this is an emergent situation so I'm sure we'll all be feeling the effects of that soon
Ding Ding! It all has to do with greed. My landlord raises the rent and yet, fixes nothing. The house was bought, by my landlord, and has since paid it off. And yet, she keeps raising the rent. Some people want to say it's because the landlord is paying extra for things, but it's greed. That is all it is.
No, it’s an investment, that’s all it is. If you aren’t going to earn a rate of return equal to at least the rate of inflation on your equity there is no point in keeping it. May as well sell it and put your equity where it doesn’t continue to lose value.
And nobody is forcing you to rent from a greedy landlord. Feel free to risk your own money and go buy your own place.
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