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jack said:
What's odd is how polarized everyone is over there.

The only person that insane here is ignored or made fun of by everyone, and he's plainly certifiable. The same can't be said for the majority of posters there.
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"He can wander the Choctaw Nation Wrodfrodge for as long as he likes; perhaps the local Injuns will take him in. and honor his gibberings by making him Chief!"
 
jack said:
What's odd is how polarized everyone is over there.

The only person that insane here is ignored or made fun of by everyone, and he's plainly certifiable. The same can't be said for the majority of posters there.
Click to expand...
It's just the sort of thing that happens when you fall down the social media rabbit hole and don't get out too much, I reckon. Everybody needs a hobby, no matter how boring it might be.
 
I saw Volpome's thread about Landlord day over at that other site and think it went exactly as expected. I swear these people fail to understand without landlords there would be a hell of a lot less rental supply available on the market. For instance, I would simply sell my rental houses and renters probably couldn't afford it so it would be sold to higher income families as private homes and those rental units would simply no longer be on the market.

There is also a lot of expenses and capital involved in this business. Next week I am having one of my units tented to get rid of termits (the renters moved out to move out of state so I atheist don't have to pay for their hotel). Then there will be the repairs to damaged wood plus painting to be done. The bathrooms were redone in 2021 because the renters completely fucked those up, as in broke both the bath tub and shower so water was leaving out of them) but at least the tile floors and the floating laminate floors are still in good shape. I stopped putting carpet in my unit's because the renters destroy those in short order.

I do keep units in good repair (especially when renters bother to call me and let me know something needs fixing) but that does come at a price. This is a business after all and I am trying to make money. It takes a lot of money to pay for lawyers and follow all the regulations here in California and last year I had to swallow a $20,000 loss when one lying cheating bum just stopped paying despite still having her job and not being effected by covid plus illegally subletting two rooms and have pets despite the lease explicitly disallowing tthat. There are a lot of shit bags who will steal from you if you give them a chance and Democrats only seem interested in enabling such theft.
 
The pay off can be good but it is a lot of work and time. Not to mention money. You have to keep a good cash reserve on hand because there are a lot of bad renters who know they don't own any of it so they just don't care. Then you have the ones who don't want to pay their damn rent.
 
Before my neighbor across the street croaked he had three or four houses around town he was renting out and it always ended up being a disaster. Evictions due to no rent payment, property destruction, general shitheels as tenants and he always vetted them as best he could. I went along with him a few times to help him unfuck things and wow. I could never do that for a living, but kudos to you if you can.
 
I'd really prefer to do stocks (mutual funds, technically). The Return On Investment (ROI) is comparable, given the amount of work involved (stocks have a lower ROI, but literally all you have to do is write a check. Heck, if you have dividend reinvestment you don't even have to do that) but then there's asset appreciation. Real estate is a double-whammy that the asset appreciates faster than a stock and it returns more cash to boot. Add in leverage (if you're into that. I have a hard time borrowing to buy). At least 1/2 your stock money has to come from your pocket (or your friends or your HELOC or whatever). With real estate you can build a house of cards where you buy a house, refinance it, use the refinance money to buy another house, lather rinse repeat.

Also, I can't buy 100 shares of General Mills and then double their value in under a year by installing a hallway that turns the dining room into a 3rd bedroom (along with other general cleanup, repairs, and TLC). I guess I could do the "house hacking" strategy of buying a rundown house, moving in, fixing it up, and then selling it in 2 years with no capital gains to move on to a new house. But I'm getting too old for that. And I hate leaving my neighbors. They always make me feel guilty for moving. Besides, my dog and cat are buried at this place. It's just bones at this point; I carry their essence in my heart and mind. Still, it'd feel weird to leave them.

Back on topic I did an "Elon Musk offers to buy Twitter for $3.50" thread over there that was quite rewarding but I didn't really want to brag about it here. That seems classless and petty to me. Still, the 'tard rage *was* fairly entertaining.
 
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