justforrazors t1_ivf0h6f wrote on November 7, 2022 at 2:24 PM

Reply to comment by Television_Wise in Springfield renters and landlords, what are your thoughts/opinions on how so many landlords/rental companies want potential tenants to have income that is equivalent to 3x monthly rent? by Snoo_84090

You clearly just disagree with landlording/property management on a fundamental level and I'm not going to convince you otherwise, so I'm not going to try to. I posted here to try and offer some insight to a question is all.

I'm a healthcare worker that has worked covid all over the United States for the last two years, seen some of the worst things imaginable, watched hundreds of people die senseless deaths, and saved money to buy properties so I don't have to microdose trauma for the rest of my life, but I guess getting called a parasite on a bright and sunny morning is all worth the struggle, right?

The tenants I have in my homes are like family; I care about them and want them to be comfortable. A tenant had a bad situation where a family member was having health issues, I installed grab bars and hand rails, discounted their rent for 3 months (1/2 normal, operating at a loss) and helped them get set up with covid relief, OCAC, and healthcare resources for their family member. We maintain our properties just like we would maintain our personal residence, address issues quickly, have 24/7 coverage for emergency maintenence, and try and treat the people in our properties like humans.

Ultimately, you are right. I wouldn't buy real estate if it wasn't about making money. The property should appreciate. I should make more than $200 if I take care of it. It should help generate generational wealth for my children, and their children. But it could also collapse into a sinkhole tomorrow and I'd be fucked. With that said, I take pride in the properties we own and we try and offer service that reflects the care and pride we have in our properties. I don't appreciate being called a parasite for trying to offer an affordable and fair service. We are all humans, and ultimately I hope that you don't lump everyone in real estate investing together. I could much more easily have invested money into index funds and renters would just have more corporate landlords to deal with.

Hope you have a good day,

Sincerely,

A healthcare hero/parasite

thetrevorkian t1_ivf586p wrote on November 7, 2022 at 2:58 PM

Well just going by what you say you are one of the few landlord who are not pieces of shit. My landlords are nice as well but are still charging me more than the house is worth and there is a special needs guy that basically lives in the shed(it’s an add on to the house but based on what my house looks like his might as well be the shed..) so who knows how much they charge him as well.

Parasitic landlords like 417 rentals(not who I use just an example) used to be far and few between now they are par for the course.

Again as I said I’m all for making a profit but this is ridiculous.

justforrazors t1_ivf7f7w wrote on November 7, 2022 at 3:14 PM

Yep, I totally understand the sentiment and I'm used to it at this point; it just still hurts when you try to do something positive and are immediately lumped in with assholes. When I explain my business model to people I use Chris Gatley/417 rentals as the antithesis to my goals.

I rented for 8 plus years prior to being able to afford a home and it wasn't always great. I remember renting a SFR that leaked from the roof every time it rained, and every time we complained the "maintenence guy" would come out with a bucket of tar and "patch" it. Never helped. We lived for three years with an in-ground pool that had a ripped liner and it became a literal cess-pool/mosquito breeding ground; we had to call the city to declare it a hazard before the owners agreed to have it filled in. I'd like to think I learned something from my experience renting, and we just try to be fair folks that don't take advantage of other humans. There are others out there; its just unfortunate that so many people with ill intent and no morals take advantage of folks for their own gain. We aren't trying to get rich, just be comfortably middle class in the midwest.