Re: Pro's and Con's to owning rental realestate...

Re: Pro's and Con's to owning rental realestate... by Don (OR) on November 20, 2009 @22:58

I looked at the research writer’s initial post again, and I have to say that most of you are being unfair to the LL who was skeptical.

The research writer is asking us LLs to talk about something which is a private matter; that being, what are we willing to part with financially in order to gain financially (or be satisfied). Additionally, there is no guarantee of financial gain (or satisfaction) and actually could be a loss no matter what you do to screen a potential client. As the saying goes – shit happens. Knowing how much money a person will spend to get what they want is a good indicator of how desperate they are to get it.

I think at the very least the writer should provide his school email address. Someone’s already mentioned that if he went to a company they’d most likely ask for his credentials. School email addresses are not sacred. And if you’ll notice, the research writer didn’t answer ANY of the LLs questions except that his dad was a source. No instructor I know would have accepted “my daddy” as a source for such a paper.

Later the research writer says his information is personal and not forthcoming. I don’t know about you other LLs, but my finances are about as personal as you can get. Sounds like the research writer is being duplicitous.

The writer said in his first post he’s writing a paper on the pros and cons and is researching the cons at this point. What does his initial inquiry have to do with being a con to me or you as a LL?

Finally, am I the only one who finds it weird that the research writer insists on using realestate when it’s real estate? I thought he witnessed his father build a lucrative company as an investor of real estate?

Thanks to skeptical, I took a closer look, and I now think that something is just off on this one.

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Re: Pro's and Con's to owning rental realestate... by Ultimate M-Bone on November 21, 2009 @10:02

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Very well put. For obviouse reasons I didn't respond to this topic. A wise LL is not going to divulge his weaknesses on an open forum for all the tenants to see. Not to mention one desperate LL can hurt the rest of us.

Here's an excerpt for your research paper.

Desperate LL are giving their rentals away, slashing the rents and elliminating deposits. They lowered their standards and will rent to anyone. How the hell do we compete with that? Someday very soon, that LL and his tenant will get what they deserve. A tenant will have minimumly 3 months free rent, until eviction forces them to move onto the next sucker who is giving his rental away. And all this out of desperation to get the place "rented". They hurt themselves and hurt the rest of us in the process. Why would a tenant pay an application fee to rent my place when he/she can move into another place with no requirements whatsoever? There are why too many 'I don't even want to call them landlords' who shouldn't be in this business. The balance is off, and nature needs to rid out some of those.

Re: Pro's and Con's to owning rental realestate... by mike (texas) on November 22, 2009 @02:21

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I can only offer my apologies for obviously insulting you with my questions. I have absolutely no ill intentions whether you can bring yourself to believe me or not. I will thank you for reading my request so closely because it was meticulously disected in your rebuttal and refusal to entertain. I had absolutely no idea how my question(s) could spark so much debate and skepticism. You did state that my initial question had nothing to do with the cons in which I am researching; I beg to differ. Is it not a con for you as a landlord to have a vacant property? I asked you to quantify the need to fill it in monitary terms to put it into perspective for the average reader of my research paper. I can call my teacher/professor an average reader because she is not an expert in real estate (not "realestate" right...sorry I forgot the space before...I didn't know it would raise such a red flag and give so much insight into my "true motive"). Therefore in utilizing, what I thought to be, a creative tool to define the level of urgency a landlord has to fill a vacant property, a monitary explanation was an easy choice which everyone can understand. I am confused as to why you feel the need to attack me and/or my motives. I will say you are correct in that if I used "my daddy" as a referenced source in my paper it wouldn't go over well. But I would be a complete fool not utilize all the tools and resources I have readily available. For that exact reason, I would not be referencing "my daddy" in my research, I would be referencing his company name and the executives he has on staff as a proper source. I just felt like I had to address this with you as you felt it apropriate to pick my questions and requests apart. I never wanted to bicker back and forth over this and I wonder why if you had nothing to add, why not just keep away from this thread and say nothing at all? I am sure everyone in this forum can look out for themselves and get along just fine everyday without your warnings asking them to be careful when answering my question. Inadvertently, the few die hard skeptics which have not only avoided answering my question like the plague but thought it appropriate to also seemingly take satisfaction in being the horn blowers, have contributed to my research in the end. There is no doubt in my mind that extreme paranoia is a learned attribute and is only, in this instance, obtained over a long stent in a venture that has burned you more than once...real estate investing/renting. So in the interest of avoiding a pissing match and trying to out wit each other in a heated debate over who's who and what are the motives, I will just say with all due respect and honesty, I apologize for obviously stepping over the line and asking a rightfully difficult/unfair question of which I had no idea I was doing. I thought it was an easy question that would get a much more positive response. I did get some good advice (contacting a local R.E.I.A) and polite responses. Thanks for those who offered me that courtesy. Even the angry/defensive responses have, oddly enough, added an interesting twist of information to my research. Thank you very much Don for your insight be it speculative and presumptuous or not.