/biz/ - Business & Finance

Bazé

>no rentcucks allowed in a biz thread
>it dies with no replies

Pottery

>>50017550
>I leveraged my first rental into 10 more
lol retard
you're going to get wiped out and foreclose on all of it
if you don't own it all outright good luck keeping up with the mortgage
>t. owner of 4 apt complexes and 2 single family homes

pretty based OP, and Imma let you finish, but when things go south, property owners are the first ones getting btfo by populist leaders in a big "fix everything" swoop.
So my advice, leverage your rentals into getting chummy with the big man and the men of action, and hope they come out on top when shtf. Or just sell

>>50017550
Explain me how you leveraged your property to 10 more…

I just go my first small 2 bed flat
I’m expecting to get 550 per month for picrel

>>50018405
>>50018351
>property market
>going south
>when theyll just import a million more niggers and spics

yeah nah, im gucci

>>50018599
why do you keep electron scanning microscope over your washing machine?

>tfw paying 1145 euros rent per month
Thank you shekelstein

how many houses/apts do you guys have? I'm looking to buy my first one within atleast two years. Hopefully a house I can rent some parts out, while also having rentcucks in the apartment I live now.

Also, do you sell your apartments if the gains are good, or just hodl and buy more?

>>50017550
that "leverage" swings both ways anon. as the interest rates climb its gonn atake a bigger and bigger bite out of your ass. personally Im in the process of liquidating my rental units, paying down debt and cashing out. I cant speak about your jurisdiction, but the covid rent controls, refusal of canadian government to enforce rental contracts (the first time in 1400 years a common law government declared that certain types of contracts (rentals) would not be enforced.

Its just not worth it, and tenants dont seem to get that. Consider that my units average 300,000 dollar each of assets, and produce 1000$ per month. Well I could 4% return on your average bank stock, with zero risk (really), and none of the downsides of rental units (people trashing them, failure to pay, price of evictions, etc etc etc),not too mention the cost of upkeeping them in terms of taxes, repairs etc.. Its just not worth it.

>>50018685
right now its not worth it. you'd be better off investing in stocks, bonds or something.

think of it like this. you buy a 300,000$ lamborghini, you rent it out for 1000$ month, to a guy who wants to make a 500$ damage deposit, and expects you to pay for the gas and maintenance ... would you do that. The only upside is the capital gains,and that really only occurs on the land, as long as the housing market is rising. As soon as the housing market collapses, you lose your profit, and your gains. In light of that, the only way to make money on rentals is to buy shit units, and let them rot (along with thier tenants) (be a slumlord). Because the value of your gains is in the land. The building will deteriorate, and it will cost you plenty to maintain it

If you really want to try to make some money, buy a nice piece of land, thats going to rise. Build the cheapest shittiest apartments you can, rent them out, dont give fuck, let your wonderful tenants run the building into the ground. When its finally declared "unfit for habitation", bulldoze the building, sell the land.

But frankly, its not worth the hassle anymore. the government has made so many laws, and it sure looks to me like they are about to make alot more. Its gone past the point where you can even charge what you want, no you cant even evict the fuckers when they refuse to pay. What a joke. I only own three units, and Im selling them all. Buy some nice blue chip bank stocks, get my 4% dividends, and no fucking hassles. Fuck it.

>>50018741
interest rates will never go above 3% ever again

youre delusional

>>50018899
in a way it doesnt matter what the interest rates do. its still not worth it. its a huge hassle, with alot of risks, and government seems destined to hamstring the small scale landlords. if you have a huge building, with hundreds of tenants, you can spread your losses out. but if you have only a few units (say a six plex), and one of your tenants decides not to pay (a singlemom ... even worse), you could spend thousands of dollars trying to get them out, and not get any revenue in the meantime, it can easily destroy your income for the whole year. I had a situation where an old women was renting from me. she was 76. she started getting dementia. she started turning her unit into a soup kitchen for the homeless. had bums and junkies hanging around all the time, stealing shit. cops where at the building daily. junkies where robbing her blind. junkies breaking into other units. I started eviction proceedings. It took seven months! finally got her into a care home (cops actually helped me make a case to a social worker!). They did thousands of dollars in damages, thousands more in lost income, and thats just one example.

And on top of that, when all this is happening, it really stressful. It takes a toll.

For me, its not worth it. Im getting out. The canadian government has decided tenants have more rights then landlords. The final straw was during covid when the government decided tenants didnt even have to pay thier rent, and landlords were just supposed to take a loss. As a landlord I got zero dollars for the tenant who stiffed me for 8 months of rent. A government that decides they wont enforce rental contracts is a government that has decided there wont be any rental contracts.

>>50018833
Where are you operating, the US? I'm a scandifag, and our housing market has been one of the safest, most profitable market to invest in for about 30 years.
Also because of 'rona and Russia our supply of new housing is shrinking fast, contractors can't get workers or materials apparently.

>In light of that, the only way to make money on rentals is to buy shit units, and let them rot (along with thier tenants) (be a slumlord). Because the value of your gains is in the land. The building will deteriorate, and it will cost you plenty to maintain it
That's what I figured too, but what about the "location is everything" meme? I primarily want to find myself a better place to live, I dabble more in stocks and crypto, being a "slumlord" seems more stressful lol , having seen how some of these "people" live firsthand.

>If you really want to try to make some money, buy a nice piece of land, thats going to rise. Build the cheapest shittiest apartments you can, rent them out, dont give fuck.
I don't think thats possible in our cuck socialist paradise (hell) of human rights etc.: If an apartment is too shitty (think health hazard, which doesn't require much over here), the tenant can hire contractors to fix shit and send the owner the bill.

>Its gone past the point where you can even charge what you want, no you cant even evict the fuckers when they refuse to pay. What a joke.
Thats basically what it's like here, you can only increase prices by so much per year for instance.

All that being said, if the housing market here crashes, alot of people are fucked, because it's very popular to invest in, and plenty of people are overleveraged AF.

>>50017550
who / where are these people who can't tank a single rent raise? u sound like a larping retard

>>50019063
You really think the OP owns property and isn't some fat cunt larping? You have real stories, he has pictures of frogs in suits

>>50019173
well if your really trying to get into the rental business my advice is simple .... SCREEN SCREEN SCREEN.

You have to be very careful about who you rent to. Check all their references, check thier criminal records, check thier credit scores, call their employers. and if you smell anything fishy, move on. a bad choice is worse then no choice. your better off losing a month or two of rent waiting for the right tenant, then making the mistake of renting to the wrong fucker. because a bad tenant can do tens of thousands of dollars in damage. I had a roastie wino who set her carpet on fire with candles when she passed out drunk, fire department came, her lving room in flames, they sprayed water everywhere (thank heaven she was on the ground floor). I had to tear out the fucking drywall, the carpets, re insulate .... 15,000 dollars in damages and lost revenue. and what did i get ... her lousy 500$ damage deposit.

She was a government employee with great credit, no criminal history, good references from her previous landlord. and you know what, she was a good tenant too, and a relatively nice person ... up until the day she set her living room on fire!!! and what can i do about it. my insurance wont pay (my deductible is 20k), her insurance wont pay, sueing her will cost a fortune, and i might not see a penny. her lease says no smoking, but doesnt say anything about candles.
so heres another pointer ... "no open flame" clause in your lease. but honestly, do do it. you better off buying a gas station or a tim hortons. its just not worth it. its not "passive" income. its more work then you think, with alot of dangers.

>>50018667
kek that is the water heater thingy

>>50019369
>my insurance wont pay
>her insurance wont pay

why?
why are you giving me nightmare fuel?

what are some things we should never do if were looking to become landlords

>>50017550
>>50019063

German landlord here.
Ive got 2 houses with 2 apartments each. I live in one apartment, the rest is rented out.

Our green party has been trying to cuck landlords for some time now.
> "Mietpreisbremse" in Berlin (got BTFO by our supreme court)
> Green party calling for massive renovations (roofing, windows, heating system) every time a house is sold
> Landlords will probably have to pay part of the heating costs starting in 2023

Like WTF, I dont control how hot my tenants shower, why should I pay for that?

This is all meant to make renting more affordable. While landlors already have less rights than rentoids.

That all just leads to extreme additional costs when invessting in property. Meaning less people will invest in property providing less living space, driving up prices even more.

Our political elite is just so fucking stupid, its fucked up beyond repair. For me it has become impossible to profitably invest into new properties. Im priced out.

>>50019417
my insurance wont pay because my deductible is 20k. so the damages arent more then that. If you want a really low deductible you have to pay alot more monthly (i pay 314$ month in basic insurance for the units, which basically only covers "catastrophic loss")
her insurance wont pay ... she doesnt have any.
and trying to sue her. well the attorney I spoke said she will say its an "act of god" type thing. she wasnt doing anything illegal or outside her lease. she simply nodded off with a candle burning. I cant prove she was drunk at the time (though she reaked of wine, huddling in her blanket while the fire dept put it out, ). I got a phone call around midnight, the building is burning. I had to pay for all my tenants to have hotel rooms that night.

30 years ago having rentals was a great plan. its just not anymore. theres so many rules for landlords now. its crazy. you have no rights as a landlord. many tenants are impossible to sue, because they have no money. you cant even evict people who refuse to pay, and when you can, it could easily cost between 1 to 5 thousand. (just having the balaiff show up is 2500$). if they are elderly or have kids ... forget about evicting them, it will take a year.

the thing is, without getting a 20,000$ damage deposit, its not worth it. think about. your giving them exclusive right to use your 300,000 asset ... for a 500$ deposit. and your doing this with a person who cant even secure a bank loan, cause if they could, they'd get a mortage. 20 or 30 years ago, when someone refused to pay their rent, you could just kick them out, and if they called the cops, the cops would help you .... they were just trespassing at that point. not anymore. the cops show up and tell YOU to leave. "its a civil matter sir".

I mean theres alot of dirty tricks you can still do as a landlord. but the basic premise of "they wont pay, so they leave" ... those days are gone man.

>>50019595
>>50019487

this is in at least some places by design. you may be doing fine, but affordable housing has suddenly become a big ticket election item. when enough people can't afford housing shit hits the fan

so you force out investors. this short-term jacks up rents because less supply. medium term it lowers price of buying a house, as more people buy to reside, rental competition drops off. it is a solution of sorts

you're absolutely right there are much more attractive options. that's not an accident in all places. in others it's just retards passing kneejerk legislations which accumulate without any rhyme or reason, but result is the same

>>50019487
I hear you man.Im selling. let the rentoids cough up the real amount it costs, and if they cant, they can deal with black rock or shekelstein, not my problem. sell the units. invest in bank stock or tesla or apple or whatever. or just buy raw land and lease it to a farmer. or buy a REIT stock, let someone else manage the building.

Im done dealing with broke tenants who come hat in hand, telling you how wonderful they are, and as soon as the ink is dry on the lease they start making ridiculous demands, stealing shit, setting fires, leaving thier beat up campers in the driveways, stuffing garbage cans, jamming chicken bones down the drains ... you name it, Ive seen it all.

yeah I had a tenant who called me and said her drain is clogged, and if i dont fix it, she would call a plumber and take it out of her rent. so i went over, took apart the trap under her sink and found it stuffed with chicken bones and coffee grinds. And i showed her the bucket, full of bones and coffee grinds .... and i was like, wtf, why are you shoving this shit down your drains, it goes in the fuckign garbage. and shes like "uh, duh, well, I dont know how that got in there..." ... yeah right. fucking bullshit. and thats typical. shit like this happens every month. and shes not a bad person, or a bad tenant. shes just a dumb bitch.

wanna be a landlord, better learn some plumbing and carpentry.

Retard. If you were my landlord I'd legit slit your throat. buy matic, buy your own property fuck rent.

>>50019487
Kek, the Mietpreisbremse really was a glorious clusterfuck.
>Landlords will probably have to pay part of the heating costs starting in 2023
Aren't they just transferring a percentage of the CO2 tax onto the landlord?

>>50017550
>jew landlord raises my rent unfairly
>dump 100 C sulfuric acid down all drains to ruin PVC pipe
>spread japanese knotweed seeds on lawn, near sidewalks and building foundation
>temporarily remove thermostat and hotwire central air to turn on/off rapidly (overload compressor)
>remove access panel to water shutoff valve and splash water all over it
>red loctite on all lightbulbs
keep pushing me, shekelstein. this is just the start -- and none of this is provable in court.

>>50019759
>medium term it lowers price of buying a house,

no it wont, (at least i dont think it will). rental units get bought up quickly by black rock and shekelstein. they jack up the rents, and slumlord it. the only people it puts out of business are the little guys, the landlords that try to play by the rules and dont have economies of scale to offset losses.

and the housing market. the rentoids cant buy anyways. if they could buy, they would. a 300,000$ dollar loan might as well be a million dollar one, cause they cant get either. and the prices will never drop that much. not enough to price them in. (maybe a very small percentage).

Anyone who is renting has a problem. Some of those problems you cna work with. but fundementally, for whatever reason, renters dont have thier shit together. Some its cause thier students, soem cause thier old, some cause they are recently divorced, some cause they are travelling and not going to be in your city for years (like army navy guys and stuff - who are ussually very good tenants btw, i had a navy guy rent from me for six months, one of a few tenants who left the unit better then he found it). but for whatever reason, they are renting because they dont have the stability to buy. for many that situation will not change, and they will be forced to compete for fewer and fewer units. its anumbers game. the prices are driven up by crazy restrictions, government rules.

No landlord evicts a tenant who takes care of his unit and pays on time. those tenants are solid gold. the government has created a set of rules that makes it imposible to evict some junkie thief who wont pay his rent, sometimes for six, eight ten months ... at the cost of thousands of dollars... and those costs are passed straight to the next tenant.

Its a BUSINESS .... the costs get factored in.

>>50018899
You're indian living in a first would country and probably bought your first property from income working at FAGMAN as a code monkey. You will never belong and white girls will never give you the time of day.

>>50019946
and you wonder why the rent just keeps going up. Its a business ... the costs get factored in. just like walmart raises it prices to cover the shoplifting. landlords set the rent to cover the expected costs. land tax goes up .. so does rent.

ok ok ...you win. landlord sells the unit .... you still cant buy it. so read my post >>50019963

You know a wise man once said to me "The consumer pays for everything in the end". no matter how you factor it, in then end, you need a place to live, and that place is going to cost you money, whether you rent it or buy it. every landlord that gets out of the business is one less place availible for you to rent, and one more place availible for you to buy ..... so the question is: "Do you have the money to buy?" .... cause if you dont, well the hardware store has a sale on tents!

>>50020088
>landlords set the rent to cover the expected costs.
there's a ceiling to how much rent can be paid. it's called prevailing income less all non-discretionary spending. while there's a limit to how much i (or anyone else) can pay for rent, there's no limit to how much damage i can cause to your rental property. in other words: i can remain destructive far longer than you can remain solvent. keep pushing me, schlomo. this won't end well.

>>50020156
hahahhahha. good luck. no problem. read my posts. I put my three rental units up for sale. give me 300k and you can live there ... for the rest of your life. dont have 300k? ok. have a nice day.

>>50017550
One of my customers had around 20 rentals which he owned all of them. He is 56 and just retired after he sold everyone for double what he paid. Youre a little late to the game and if you bought all that property in the last 1.5 years you're a fucking moron. Property will collapse no later than Jan 2023. Good luck.

>>50020214
you sound too upset to be speaking truth so I'd call "seething 200"

>>50020214
>two more weeks

Great to see all the landlords on here moaning about h ow shit being a landlord is.
I hope you all die.

>>50020254
>>50020277
No hes right. We are headed into an inflation spike. when unemployment catches up with inflation, property values will take a beating. the massive size of property holdings gives them a buffer zone, they go down slower, they recover slower. interest rate hikes and inflation, soon to be followed by unemployment, will tank the property market. if your carrying debt, now is the time to liquidate. buy low, sell high.

>>50020198
i think i'll continue to stack cash while waiting for prices to catch up with the doubling of rates. good luck.

>>50018674
Holy shit what a cuck you are hahaha

My old landlord is trying to steal $500 from my bond with the flimsiest lies imaginable and I have ample evidence they're lying. This will be the third time this year (that I know of) they face the state rental board.
I am also going to look at whether I can make a report for criminal fraud.

>>50020156
"Heh heh, im gonna destroy every rental unit I live in and there will be zero consequences for me, only for the landlord!" -Delusional larping marxist faggot

Kys

>>50020517
>muh gommunism
rent seeking behavior deserves to be punished. consider yourself lucky that i don't kidnap you at gunpoint and torture you to death for my own amusement.

Tenants broke the washing machine twice now. First time some coins got in the pump and 2nd time idfk what happened. Repairs weren't expensive nor cheap. Writing my new contract as we speak, tenants will have to pay half of the repair costs and rent is going up.

>>50020578
>providing a washing machine

i got rid of mine years ago, if they complain i give them directions to the laundromat lol

The problem with landlording is .gov can legislate you into poverty overnight. In California there is an eviction moratorium still going on that started in April 2020. Commies can and will seize your property and in the current leftist political climate its dangerous to hold rental units.

>>50019369

only rent to a married white man with no tattoos

>>50019063
>Canada
Literally stopped reading and caring what you said. I disregarded everything else you posted previously. Thank fuck I live in a red state where land lords have rights. We even have Section 8 of the Housing Act of 1937 here where even the lowest dregs are subsidized by the government and you're ensured full payment after you've screened them and made sure they're not literal subhumans. A lot of small time landlords go the Section 8 route because it takes a lot of the risk of being a beginner out of the picture.

>>50020328
You have to be 18 years old to post here

>>50021000
Sometimes I wonder if posts like this are actually genuine.

>>50019963
>for whatever reason, renters dont have thier shit together

Depends on the city. In major cities buying is basically impossible and you can rent to white collar tenants. In the countryside / flyovers its the typical walmart crowd.