[Aces4]

Originally Posted by manaboutown

A friend of mine was in the USAF stationed at SAMSO in the Los Angeles area and bought a house on the Palos Verdes Peninsula around 1970. He was a First Lieutenant and worked with another First Lieutenant with the last name of Marvel. Marvel had been stationed there prior to my friend and had bought a house for $40K the year before which was now worth $70K. Marvel then refinanced the house and bought another. Over several years he acquired 19 rental houses in the area. When the fellow made Captain he wore to the office a Captain Marvel outfit his wife had made. Lol. After a few years he resigned his commission as his houses had become worth about $650K each. Bet they are maybe $1.5M houses today!

My friend, now 80 years old, went on to obtain about half a dozen rental houses (although not in that area) which he still owns.

Residential real estate can make one a multimillionaire.

I wonder how many residents in The Villages have acquired multiple rental properties in TV over time? More than a few I will wager!

I also wonder how many times the government stepped in and said you don’t have to pay your rent due to the pandemic. There are a lot of rental units for sale around the country, nows the time to buy if you’re not worried about rent payments you may never receive.

We all know how Villagers love landlords and renters.

[RandyLW]

I think I'm going to wait for prices to stabilize in the next year or so. If the prices in the Villages remain high then I'll purchase out side, but close to the Villages, or even in the Orlando area. Only time will tell, but after the pandemic and giving everything time to catch up, we'll see what our choices are.

[vintageogauge]

Originally Posted by Aces4

I also wonder how many times the government stepped in and said you don’t have to pay your rent due to the pandemic. There are a lot of rental units for sale around the country, nows the time to buy if you’re not worried about rent payments you may never receive.

We all know how Villagers love landlords and renters.

There are ways to get around worrying about receiving rent payments.

[Aces4]

Originally Posted by vintageogauge

There are ways to get around worrying about receiving rent payments.

Yes, I suppose one could screen their applicants to keep the undesirables away but the last I heard about that it was illegal. That wouldn’t interest me.

[vintageogauge]

Originally Posted by Aces4

Yes, I suppose one could screen their applicants to keep the undesirables away but the last I heard about that it was illegal. That wouldn’t interest me.

Nope, my system is completely legal and I have never lost a dime in rent. Also, it is not illegal to screen tenants, if you go through Hometown here in TV they do a great job of it.

[Aces4]

Originally Posted by vintageogauge

Nope, my system is completely legal and I have never lost a dime in rent. Also, it is not illegal to screen tenants, if you go through Hometown here in TV they do a great job of it.

I’m not convinced, tell me how that’s working for you when you get caught with bad tenants. It happens to everyone unless you’re screening out families, minorities, low income, service pets and so forth.

[stan the man]

The pendulum swings both ways.

[JMintzer]

Originally Posted by Aces4

I’m not convinced, tell me how that’s working for you when you get caught with bad tenants. It happens to everyone unless you’re screening out families, minorities, low income, service pets and so forth.

Minorities are bad tenants? Hmmm... There's a word for that...

[Irishmen]

Originally Posted by JMintzer

Minorities are bad tenants? Hmmm... There's a word for that...

being a deadbeat is not determined by your skin color for sure....

[vintageogauge]

Originally Posted by Aces4

I’m not convinced, tell me how that’s working for you when you get caught with bad tenants. It happens to everyone unless you’re screening out families, minorities, low income, service pets and so forth.

First of all I rent long term unfurnished, no pets, no smoking. I don't have problems with bad tenants as I do screen them, I allow 2 adults no families, the best tenant I ever had was a minority couple so no problem there, if the applicant does not have sufficient income to comfortably afford to pay the rent it's a no go, bankruptcy in the past, it's a no go, no proof of income, another no go, multiple references are a must, and finally I look at their car while they are looking around the unit I have for rent, a sloppy, dirty car means a sloppy, dirty home. When I was renting out homes up north I would get the applicants address on the rental application and if I was considering them I would actually go to their current home, make sure they lived there, and ask if I could come in a talk about the application. Some homes were perfect others were pig pens. There is one more thing I do that puts the icing on the cake but I'm not going to make that public.

[Normal]

Yes, there is a housing shortage. This drives up prices, and I don’t see the “bubble” others claim. Lenders require 20% down and your credit matters before your home loan is given. People aren’t allowed to short sell now and when will there be enough houses, nowhere in the foreseeable future. This whole thing will flatten out without some kind of bubble burst.

[Aces4]

Originally Posted by JMintzer

Minorities are bad tenants? Hmmm... There's a word for that...

You’re probably unaware that minorities often have a much lower source of income and may struggle with rent payments which makes some landlords take great steps to avoid renting to them. Landlords will consider them bad tenants and will work illegally to avoid renting. That was my point.

[Aces4]

Originally Posted by vintageogauge

First of all I rent long term unfurnished, no pets, no smoking. I don't have problems with bad tenants as I do screen them, I allow 2 adults no families, the best tenant I ever had was a minority couple so no problem there, if the applicant does not have sufficient income to comfortably afford to pay the rent it's a no go, bankruptcy in the past, it's a no go, no proof of income, another no go, multiple references are a must, and finally I look at their car while they are looking around the unit I have for rent, a sloppy, dirty car means a sloppy, dirty home. When I was renting out homes up north I would get the applicants address on the rental application and if I was considering them I would actually go to their current home, make sure they lived there, and ask if I could come in a talk about the application. Some homes were perfect others were pig pens. There is one more thing I do that puts the icing on the cake but I'm not going to make that public.

I believe you cannot ban people with service dogs from your rentals.

[JMintzer]

Originally Posted by Aces4

You’re probably unaware that minorities often have a much lower source of income and may struggle with rent payments which makes some landlords take great steps to avoid renting to them. Landlords will consider them bad tenants and will work illegally to avoid renting. That was my point.

Do they now? All of them? And how "often"?

[vintageogauge]

Originally Posted by Aces4

I believe you cannot ban people with service dogs from your rentals.

There are ways.