Had 11 pipefitters in my big house. It's a 3 story, 4 baths and a jacuzzi. 9 beds, 11 guys, day and night shift. It's a fully furnished house with all bills paid. All my renters are traveling refinery contractors here for short term jobs. I was collecting weekly rent and one guy asked me if I wanted to stick around and see the show. I asked what the show was. Another guy that didn't speak English ran up to me with his phone and showed me the video from the previous night. It involved a cucumber. The first guy said she comes by every evening around 6:30.
This is my clientele. I said "Have a good time" and left with $1200 cash. I paid $15,900 for the house and put another $3000 to furnish it. They stayed in the house for 4 months then left. A month later I find her in another house of mine with 6 electricians.
What would you do? I like sharing my unusual experiences.
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10-31-2019, 10:15 AM #1
Landlords, ever find a prostitute in your rental property?
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11-02-2019, 01:43 PM #2
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11-02-2019, 04:02 PM #3
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11-02-2019, 05:33 PM #4
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11-02-2019, 09:49 PM #5
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11-02-2019, 11:09 PM #6
Sure did. Coffeyville Kansas. Google it. Worst town to live in Kansas '17 and '18. Lowest average mortgage payments in the country, $206/month. Google it. Lately I've been paying $9500 for a 3BR bank foreclosure. That's what I paid each for the last 4 houses I bought. Finance is part of the subject of this forum. I get $600/week for those houses, when they are rented out.
Posted it here a few months ago, I'm not making this up nickh04
https://www.refugeforums.com/threads...to-do.1049825/
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11-03-2019, 10:52 AM #7
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11-03-2019, 01:18 PM #8
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11-03-2019, 02:22 PM #9
holy chit op, mirin ROI. I am seriously considering buying some of these poverty homes and being a slum lord for ultimate cash flow, just unsure of doing business in areas so far away and that I dont know... would love to get a group on here going to discuss rental markets and investments opportunities.
as the question, yes, kinda. I've had several assets in my portfolio in socal that have really attracted the lowest of the low, and the highest "influencers" that are really just hookers and using IG as their platform to advertise. I'll share one story, that was truly the craziest...
Chick comes over from China for school. Chinese kids are usually awesome because their parents are prepared to drop the entire lease term in cash upfront, follow rules, and always drive the most ridiculous cars (mazaratis, g-wagons, etc as if they were civics), the only down side is they ALL smoke like chimneys. Anyways, this chick was the fukking exception...
Hella ratchet and fully embracing the ghetto lifestyle. Like almost comically so. Well, she was in Hollywood, and the scumfukks can smell a mark like a blood in the water to a shark. She gets wrapped up with these jamals that basically jack her plan and start dealing drugs from her place AND using it is a brothel. I'll fast forward through all the other chit, but basically she ended up OD'ing and found with hella drugs and stolen property on her. She ended up getting deported lol. Problem over right? Nope... Those jamals had established squatters rights at that point, so the eviction process had to go through which took almost 3 months.
I still remember walking the unit after the lockout. One room was the fukk room and had a "menu" on it detailing all services offered and the price written on the door. There was a dirty fukking mattress on the ground, and that was it. In the hallway leading to the master there was another "menu" that offered cold showers, hot showers, 15 minute naps, 1 hour naps, 4 hour max naps, and more that I cannot remember.
Found out later that they had a chick that basically would agree to be their cum dumpster as long as they kept her doped up..."It won't get better, just different."
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11-03-2019, 03:45 PM #10
20 years ago Amazon.com opened a distribution center here. 1500 jobs. Another company put in an electrical wire plant, 300 jobs. Amazon was given a 15 year grace period on property tax. 14 years and 10 months later, Amazon announced they were relocating the distribution center about 150 miles away. The wire plant relocated to Georgia. 1800 jobs lost. Probably 1/3 of those people and their families lived in my town (population 12,000 at the time). If they lost their job, they moved out of town to where jobs are. I know this, I was giving those people pre-employment drug screens when they were hired but before they moved out of town. There are not many jobs in this town, and not many people are buying houses for their primary residence. So they left town and let their bank have the house that they had a loan on. So that's why houses are cheap, and the foreclosures are not listed on Zillow. Normally a real estate agent calls me before the foreclosure is listed.
Coffeyville: Low property values, high unemployment, low education, high drug use, high crime. The refinery is the only thing keeping this town alive.
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11-03-2019, 03:56 PM #11
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11-04-2019, 01:55 PM #12
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11-04-2019, 02:11 PM #13
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11-04-2019, 05:22 PM #14
- Join Date: Jan 2011
- Location: Illinois, United States
- Age: 32
- Posts: 3,086
- Rep Power: 12977
You live in a city on the coast. Come take a gander at the small rural towns of the midwest. Plenty of houses with an acre of land for less than $30,000.
Space is not an issue here. If you have a decent paying job you can do from home, you can live like a poverty king. Big house, tons of land for cheap, and bars where the drinks are only $1-$2. Can buy the whole bar a round and still spend less than just paying for yourself out in the city.
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11-04-2019, 05:40 PM #15
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11-04-2019, 05:43 PM #16
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11-04-2019, 06:05 PM #17
There was usually a fatality or two each year. Pedestrian hit & run, climbing up a telephone pole and falling. There was a bar on the strip called The Gold Mine, where you had to walk down a flight of stairs from the sidewalk to get in there. Someone fell down the stairs and it was fatal.
'90 was the first year it officially didn't exist. I lived in a Henry Fisher townhouse in the 300 block of west College Ave. 200 state police and a riot vehicle were on hand. We had a party at our place on Saturday. Around 2am is when we could detect the tear gas that the riot vehicle was dispensing. A mob overturned several state trooper patrol cars, then tore down the goal posts of McAndrew stadium. I heard it was cut up into several hundred pieces and distributed to all the participants.
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11-15-2019, 05:44 PM #18
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11-16-2019, 01:39 PM #19
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11-17-2019, 08:20 AM #20
When we are in the mood to buy a house, we look at the MLS (Multiple Listing Service). It lists every property for sale by a realtor, and gives a description/pictures/address/price/etc. Then we look up the address of any house we are interested in at the counties register of deeds website. If the owner is an individual in this town, we know it is a normal sale and pass. If the owner is Chase Manhattan Bank out of New York or JP Morgan out of Ohio, we know it is a bank foreclosure. Banks are in the banking business, they don't want to be in the real estate business. If the house is a JP Morgan house, we let ourselves in with a key and look around. We bought 3 JP Morgan foreclosures, and they all had the same key for the front door. If it's not a JP Morgan house, we have to call the listing agent to let us in and show us.
If we are interested, we look at the appraised value by the county. It's on the register of deeds website. We offer 1/3 to 1/4 of the appraised value. Once they were dragging their feet and not giving us a reply on a house, this is what I did. A big limb fell down in the front/side yard. I contacted the city code enforcer and told her about it (We saw Billy Squier and Bon Jovi together in '84). I told her that I was trying to buy that house and wanted her to send a nasty letter to the bank about the limb. She sent the bank a nasty letter. One week later they accepted my offer, and I had to clean up the limb.
We look at it this way, the bank wouldn't make a loan on the house if it wasn't in good condition. Once they get the house back, they clean it up and make sure nothing leaks and is winterized. It's in ready to sell condition. We buy it, then go to estate auctions to buy all the furniture and appliances we need. What we don't buy at auction we buy at Wal Mart.
Then I rent them out to the people that I give pre-employment drug screens to when they start short term temporary jobs at the local refinery. They can stay in a motel, or they can stay with me (where it costs less, they can cook, they can do laundry, have their own room, smart HDTV, more space)
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11-17-2019, 07:09 PM #21
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