Comments by "Crime Stoppers" (@crimestoppers1877) on "Trouble Ahead for Landlords? Housing Market Update" video.

  1. Thank for YOU using the R word! I recently bought a 5 and 3 SFR in a good location and the seller and her Broker "forgot" to tell me it had 5 tenants in the structure. The seller could not pay the mortgage, taxes or utilities for months. I had neighbors talking to me so I could "save" the neighborhood. Yes all tenants were the R word. I picked up the property at a HUGE discount. My offer was equal to the unpaid mortgage on the property. How did I get the bums off of the property? If you want to catch a rat you must use bait. I brought in a local security patrol and they blocked the entrance "checking for identification" to assure safety for the area. When you have patrol cars, uniforms, badges in the area the rats want out. What was the cost? Zero, the patrol had previous contact with each of the "tenants". My attorney advised me that his fees would be over 40K to eject them from my property. So a few friendly and motivated security guards is all it took.
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  2. The solution is BUY ( no mortgages) and HOLD. NO Tenants. Tenants are mostly nothing but LOTS of excuses, reasons and cheap talk. With property prices low why not go out and buy the house that you want?
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  3. I agree but realize that most tenants have the option of being dirt bags who won't pay anything anyway. They want it ALL for free and without saving up a down payment or having a good credit rating. I hear your pain, so I buy ( cash) and hold with no tenants. Life is too short to waste listening to other peoples problems and excuses. I notice ALL of them have new cars and new I phones, how do they do that?
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