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Old 03-07-2010, 04:54 PM
 
2,143 posts, read 7,406,023 times
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Quote:
Originally Posted by anonymouslives View Post
That's an interesting observation, what exactly led you to that conclusion? I would have imagined you'd need some sort of evidence, but you apparently require none and base your assertions on wherever your imagination takes you?
Actually, after over 30 years of dealing with tenants, I know exactly what I'm talking about.
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Old 03-07-2010, 05:00 PM
 
5,453 posts, read 8,187,802 times
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Europeans always rent.......sorry our "dreams" are not related to "owing homes"!!!.....I don't know about your equity...but I am not sure why I need that exactly? everyone that ever made any money out of their equity are those people who sold or refi's at the peak of the market a few years back......everyone else right now is SOL and will never see that much "equity" again.......renting we are saving a TON of money that otherwise we would be spending every time something breaks.......taxes, insurance CDD's etc I can say the same thing, I think it is dumb for anyone to want to have all these expenses!!!!!!!!!!!!! the only difference is that we can paint and don't have to own a home to do that! so for $200 bucks we can make the home we rent beautiful and not have the other financial burdens associated with owing a home! all the money we are saving by not owning we can put towards other things and never be slaves to a home which in the end is just one more material thing to have or brag about! why would I want to be paying through my nose until I'm 70 or more? you are spending a lot more money throughout the course of a mortgage and all that equity is going to compensate for nothing in the end....by the time you get it you're to old to do anything with it......LOLOLOL

My brother is not dumb for renting, he is actually smarter than most people as he is having a blast living/enjoying his life without being tied down by some mortgage and home repairs and annoying HOAs issues telling him what flowers to plant!! seriously!
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Old 03-07-2010, 05:08 PM
 
3 posts, read 3,284 times
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Quote:
Originally Posted by Lilybeans View Post
Actually, after over 30 years of dealing with tenants, I know exactly what I'm talking about.
That's amazing, so because you claim to have "over 30 years dealing with tenants" You can assess the eligibility of a possible tenant based on three paragraphs, on a forum, on the internet. That's profound! Especially when you take into account the three paragraphs say nothing about credit worthiness, employment history, ownership/rental history, etc.

I think what you have "over 30 years" of experience with, is being delusional, ignorant and arrogant.
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Old 03-07-2010, 05:08 PM
 
5,453 posts, read 8,187,802 times
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We haven't moved in 2 years now.....but when we first moved to Tampa in 2007 the home we first rented was in foreclosure and we knew nothing about that, they rent it to us for $1900......wanted first and last month's rent.....so figure they got that plus 4 months worth of $1900 then sent us a letter telling us they are foreclosing and that we have to move!!!!!!!!! we lucked out because there was another house for sale on our street actually, and the owner who did not have a mortgage on it as it was a vacation home became very good friends with us and we have been renting his home ever since......he said we can buy it if we want, or do owners financing even, but we're not interested, @ $8000 property taxes...NO THANKS!.......we painted the entire house in and soon will do the outside too and for as long as we'll live here we'll take good care of it.........but we're not going to tie ourselves down again by buying a home........makes no sense......what if we want to move somewhere else? why have to go through selling the property etc etc blah, blah, blah...people move, jobs move....it is very rare these days that someone can work at the same company for 30+ years.......people get tired of the scenery....why be stuck?
Don't we just have 1 life? why complicated it?

Quote:
Originally Posted by kbrkr View Post
You make great sense! Might I ask how many times you have moved recently? The stigma is that rentals are temporary due to owners selling the rental property. In this financial climate it's rare to run into a home for rent because the owner is an investor.
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Old 03-08-2010, 06:21 AM
 
26,796 posts, read 41,497,971 times
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I understand you are from the former communist side of Germany so your have been partialy brain washed about these things...

"Europeans alwaqys rent"...what a BS! I did rent for a while in Europe just like most people do over here when the finish their education and start working.

The minute we could buy a home we did, just like all my friends and family did. We all were taught in school that renting is good to start saving money to put away for a down payment.

You are saying that you don't have to spent money for all things that are breaking and you paid $ 1900 in rent, which to me is just unbelievable...what a waste....but that is JMO!

If you buy a home that isn't build very well that is just a stupid investment, so again owning a home also comes with checking stuff.

I owned many homes and haven't spend much on repairs.

Paying $ 1900 in rent is absurd to me, it makes me think there must be something on some ones credit history that prevents a person of not being able to get a loan...unless it is temporary....
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Old 03-08-2010, 09:16 AM
 
5,453 posts, read 8,187,802 times
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1st I'm not German.......and please reserve your insults for someone else, if you can't handle someone's opinion or choices why are you on this board exactly!? just because your take on owning a home is different than mine, that doesn't make me or my family inferior in any way! believe me I would need to be "brainwashed" to agree with owning a home and put up with the non sense requests of an HOA! it's one thing to keep up a property and a whole other to abuse that power and tell people how to breathe their air!!!!!!

back in 2007 you could not find a rental 4+ bedrooms less than $1900 unless it had 200 square feet!!!!!! and was in crack own!!!!!!!!!!!! next to horrible schools!!!

Last edited by algia; 03-08-2010 at 09:44 AM..
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Old 03-08-2010, 09:20 AM
 
1,106 posts, read 2,048,357 times
Reputation: 954
Quote:
Originally Posted by algia View Post
we rented for someone we thought was "decent" and after 4 months we were notified that they are in foreclosure and we have to move out.....
lilybeans claims that this has never happened to anyone. That's why he/she stated that a tenant should not require that the landlord be current on their mortgage like I suggested.

That is bad advice from lilybeans, but who am I to argue with "30 years of experience"?
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Old 03-08-2010, 09:44 AM
 
Location: East Tennessee
3,927 posts, read 10,639,467 times
Reputation: 5235
Though history is interesting, much of this information is not applicable in today's rental market.

First: The Protecting Tenants at Foreclosure Act of 2009 enables a binding contract to be considered. The days of a tenant coming home to their belongings at the curb are gone. Obviously, this assumes the tenant is current on payments and has not breached the contract. In many cases, the foreclosing lender will honor the lease to terms to avoid having a vacant, unattended home. Further, some lenders are giving the tenant first opportunity to purchase and good terms for financing.

Second: No landlord I know will give you their credit report. Neither good nor bad credit has anything to do with whether they would make repairs. The current condition of the property should be a good indicator of deferred maintenance. What I have been doing for peace of mind is to add a clause in the lease contract that the landlord will provide to the tenant written evidence that the mortgage is being paid every month. You could also ask for references and follow up on them.

Third: This may not be applicable in the OPs case, but it's also worthy to say here that apartment buildings are going into foreclosure now as the 5-year ARMS are beginning to reset. Don't think because you live in a managed building that the landlord is exempt from foreclosure.

The very best advice I could give is for you to do as much research on the property and the current owner before you sign anything or put up any money. And make sure you understand the terms of the lease agreement before you sign. You should also become familiar with the Florida Landlord/Tenant Act (http://www.800helpfla.com/landlord_text.html - broken link). Unfortunately, scammers make honest landlords look bad and they're not all bad.

Last edited by TampaKaren; 03-08-2010 at 10:46 AM..
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Old 03-08-2010, 10:02 AM
 
Location: Eastern time zone
4,469 posts, read 6,565,893 times
Reputation: 3494
Quote:
Originally Posted by bentlebee View Post
Everybody is free to buy or to rent. But renting has and will always be throwing your money away while if you buy at a good price you are building equity (I'm not talking about people who made stupid decisions) and instead of throwing $ 700.00 away every month or paying it to some one else, he could use it towards owning a home...But as you stated he doesn't want it, and I'm free to say that IMO he is dumb to rent...but that is called freedom of speech...
Considering the house I'm currently renting is worth roughly half what it was when we moved in five years ago, I'm thrilled to death I'm not the owner. I'm thinking that the people I've seen buy in this neighborhood, pour money into new appliances and landscaping, and then barely break even or sell at a loss are the ones who made an error in judgment.

But ultimately, "throwing one's money away" is subjective. If you're happy with the value you receive for the service or goods you buy, then it really doesn't matter what other people are doing.
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Old 03-08-2010, 10:05 AM
 
Location: Eastern time zone
4,469 posts, read 6,565,893 times
Reputation: 3494
Quote:
Originally Posted by bentlebee View Post
i understand you are from the former communist side of germany so your have been partialy brain washed about these things...

wth??
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