Posted on 03/11/2024 2:16:35 PM PDT by thegagline
New York City cannot get rid of rats, period. They unleashed a herd of feral cats in the Javitz center to try to solve the problem. But that’s government property so it doesn’t count.
When we were shopping for our first rental, we visited 2 very old 1920’s duplex’s on an acre which included 4 1960’s single wide mobile homes. I commented to my broker these are slummy. He responded, slumlords make alot of money, Diana.
We bought them cheap, have had them for over 20 years, huge cash cow, renters love the cheap rent.
here’s some more interesting thoughts...squatters live in moldy, rat infested squalor but they never have the building or health inspectors fine them. only the owners get fines.
Didn’t Valerie Jarrett’s trip to wealth an power include being a slumlord, errhhh... slumlady?
And people have got to live somewhere.
On roaches, they also LOVE moisture. If the tenant fries breakfast, lunch, dinner and snacks, the oil molecules ride on any moisture and you have cockroach delite.
We had a tenant family who stayed with us two months between selling/purchasing a new house. Yep they had roaches and didn’t say a thing. I accidentally got her Terminix bill in the mail at the old unit (duplex) after they moved out. The father was from Jamaica and they never used air conditioning mid summer so HUMID.
The NEW tenant discovered the roaches; I didn’t see them when I was cleaning after they left which they hadn’t trashed the place except their youngest messed up the mini blinds. We did eventually call in a professional, but we started out with Boric Acid which took a bite out of their population.
Yeah there is that market. We notice it in the town we have rentals in but we don’t go that route. The town just celebrated it’s centennial last year.
We like the SWAN principle (Sleep Well At Night) so when we buy a building, we go in and rehab the entire building, new 200 AMP electric, plumbing, heating, hot water, drywall, fixture you name it. We get more rent that way.
Taxes are high here anyway but the tax codes PUNISH you for doing it the way we do by demanding most of it be depreciated rather than written off (unless you get into cost seg which we haven’t at the moment) we do all the labor and it takes us about a year to totally gut rehab the building from a burnout etc.
No question he’s a lousy landlord; but consider some of his pig tenants who are slobs and don’t help in their own situations.
A family member never had issues of cockroachs until a new tenat moved in next to them. They thought the couple brought them in with them. Got rid of them by putting roach traps all over. ...and the couple moved out that spring.
“Daniel?”
I believe in the trade, they call that “urban rustic.”
When my Scottish granny would hand my a dollar as a present, she would rub the bill between her index finger and her thumb to make sure she was handing me a single bill.
My Grandfather who is of Swiss ancestry would say things like, “i went to the store around about 7:38.”
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