Legalized Scamming (Rental Property Stories from HELL)

[Mattie]

Bingo! It is our own invention. What we desire to create as our reality. Those people want to impose their madness I tell you.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mattie]

Well of course those scams create their reality. Like attracts like. You do the crime, crime usually steals your life and puts you behind bars.

 

[Geeko]

Is there any form of REI that shines brighter than the others? Apparently sec8 is near the bottom of the barrell, but whats the polar opposite?

Sent from my SGH-S730M using Tapatalk

 

[Mattie]

Um...maybe this place would suit you.
http://www.smh.com.au/nsw/super-pen...s-most-expensive-property-20140729-zy4cq.html

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[SteveO]

Is there any form of REI that shines brighter than the others?

If your goal is to rent houses or apartments, decent properties in good locations seem to work the best.

 

[Mattie]

Don't know if you ever heard of Grand Haven, Michigan, but places like Saugutuck,Mackinac Island, Mackinac City and places like that are tourist areas, they seem to do real good in tourist season.

 

[ZCP]

Um...maybe this place would suit you.
http://www.smh.com.au/nsw/super-pen...s-most-expensive-property-20140729-zy4cq.html

What kind of cap rate you think you could get with this one?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Geeko]

Don't know if you ever heard of Grand Haven, Michigan, but places like Saugutuck,Mackinac Island, Mackinac City and places like that are tourist areas, they seem to do real good in tourist season.

I think problems with tourist heavy areas would be making enough during the season. Unless you have part time residences who move during the summer or spring than most of your income comes from a few months. I could be missing something though

 

[Mattie]

Most of the have a lease from fall to spring and those residents are out before tourist season. They charge a lot of money per week to different people in tourist season. We have the U.S. Coast guard Festival in the summer for two weeks, tons of people come from all over the place. In Holland, they have the tulip festival, in Muskegon they have Seaway Festival, beaches, musical water fountain, fire works twice a year, Grand Rapids has a lot stuff. People are always renting out and restoring old houses, and buildings. No one's ever heard of it, but I can tell you along the lake shore west michigan we've even made the movies. lol Not to mention Mackinac Island is the place to be in summer months and they don't rent cheap every where there.

 

[Pete799p]

Is there any form of REI that shines brighter than the others? Apparently sec8 is near the bottom of the barrell, but whats the polar opposite?

Sent from my SGH-S730M using Tapatalk

A new construction ground lease or absolute Net lease with a national credit tenant or similarly strong tenant. Think Chase Bank, McDonald's, Walgreen's, or even a large hospital etc. pretty much anything you can think of.

Like everything in business and investing it has its upsides and downsides. Low CAP rates is one of them.

Also don't count out Sec8 for those who can work it the cashflow can be incredible. But you have to be able to make it happen.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[SteveO]

Like everything in business and investing it has its upsides and downsides. Low CAP rates is one of them.

How about low cap rates AND low appreciation. You might as well invest some other stable vehicle.

 

[Bouncing Soul]

I always find it interesting when section 8 or poverty is scum on the forum. I believe M.J. had so much money, lived on a mattress, and was in poverty. Section 8 is just people in poverty, perhaps some have to survive their just to get to where M.J. is today. I saw a life coach website that some woman bragged about being homeless 3 times and doing it again just because she likes how it makes her get out of her comfort zone. This world is funny sometimes, and how many scum bags became millionaires in their life stories to millionaire or billionaire. Guess Liz Murray-Homeless to Harvard is one of them scum bags. The list of scum bags that became millionaires.http://www.businesspundit.com/10-millionaires-who-lived-on-the-streets/

Section 8 /= Poverty.

Section 8 refers to people who have spent time and energy to qualify for and collect welfare subsidies, who may or may not, be in poverty.

 

[jon.a]

Support programs to get people through rough times are good.
Support programs as a way of life, not so much.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mattie]

Section 8 refers to people who have spent time and energy to qualify for and collect welfare subsidies, who may or may not, be in poverty.

I know I went to social work school. We were taught how to help them get through the obstacles if they wanted to help themselves. There are polarities just like anything else, those that are willing to help themselves, and those that abuse the system.

Depends on the situation and individual. We're good at generalizing and saying all of them are scum bags. Some people love being in jail because they get a free ride. Others get their crap together. It's an interesting world. You're scum bag if you're rich and scum bag if your'e poor. Depends on your position and whether you're poor or rich. You're just on the opposite end of the spectrum. With a good heart or a bad heart. Ill-intentions or good-intentions. Just depends on your personal character. We can all be the Villain or Hero. All be good or evil. Doesn't matter whether you're rich or poor. It's human nature. The brain. The mindset. You create your reality. You project your reality on them. They project their reality on you. Both of you are in duality. Polarized by the light and darkness of your own psyche, and their psyche. Both see each other as bad or good depending on the moment.