Mass Suicides by Landlords will start happening soon in America

[Sal29]

I'm starting to see an uptick in preforclosures. This landlord was perhaps a millionaires or close to it 1 year ago.
This 5 unit apartment building must have been worth well over 1 million and he probably had a lot of equity in it.
He might have been over leveraged and bought multiple apartment buildings.
In this building of his 5 tenants, probably at least 3 and perhaps all 5 have not paid a dime in 13 months.
He continued to pay the utilities, hoa, property taxes, landscapers and other maintenance till it eventually bankrupted him.
He couldn't even sell the building to get his equity out of the building because no one is willing to buy an apartment building with 5 legal squatters in it. I wouldn't be surprised if this landlord will soon commit suicide if he hasn't already.
He's probably a retired older guy who's worked his fingers to the bone all his life to be able to buy a 5 unit apartment building like this in pricy L.A. county. It was a house and he spent tons of money to convert it into a 5 unit apartment building, put his life savings, blood sweat, and tears into it, and now he's absolutely worthless with horrible credit, and probably no job, and his social security probably isn't even enough for him to rent a studio apartment and no one will rent one to him anyway because of his bad credit.
https://www.zillow.com/homedetails/1...50335383_zpid/

[Sakeoe]

Mods trolling again making this guy green.....

[Cleveland33]

Cali's eviction protection applies if the building is sold?

Sadly, I can see Cali doing something that stupid, but it isn't the case in other places.

[JoshSP1985]

Cali's eviction protection applies if the building is sold?

Sadly, I can see Cali doing something that stupid, but it isn't the case in other places.

You know buyers looking for buildings with government legalized squatters residing?

[Sal29]

Cali's eviction protection applies if the building is sold?

Sadly, I can see Cali doing something that stupid, but it isn't the case in other places.

If an apartment building was sold in February 2020, the previous landlord's tenants can stay free of charge till at least June 30th 2021 if the eviction moratorium doesn't get extended again that is.
https://homeguides.sfgate.com/califo...sure-8072.html

[JoshSP1985]

I don't understand why renters were allowed to not pay rent when they were given unemployment + a kicker + stimulus checks?

[chaunce54]

This is what "Democratic socialism" looks like...

[Sal29]

I don't understand why renters were allowed to not pay rent when they were given unemployment + a kicker + stimulus checks?

Big plan by the elites, billionaires and big corporations to bankrupt all mom and pop landlords and then buy their properties for pennies on the dollar.

[ApeXXXPredator]

Thank you for your uplifting post.

[JoshSP1985]

Big plan by the elites, billionaires and big corporations to bankrupt all mom and pop landlords and then buy their properties for pennies on the dollar.

To be honest it seems like every action taking during this pandemic directly benefits megacorp and works to destroy small business owners and anyone that is self-sufficient

[LtGoose]

Rentcels win again

[Shortfuze]

Anyone read the news a day a few days ago where a landlord was accused of kidnapping tenants and dumping them in a cemetery because he was angry that he could not legally evict them?

[OPGenesis]

Biden’s America.

[Nocturnal310]

imagine renting your house to bunch of dirty jobless liberals who shoot drugs and make antifa posters rent free in your apartment all day.

would rather pay dexter morgan to make them go missing.

[Cleveland33]

You know buyers looking for buildings with government legalized squatters residing?

I know people who were renting and got kicked out because the landlord sold the house

[H00J]

Anyone read the news a day a few days ago where a landlord was accused of kidnapping tenants and dumping them in a cemetery because he was angry that he could not legally evict them?

it has begun

[trapspot]

Same thing happened in China’s cultural revolution

[trapspot]

imagine renting your house to bunch of dirty jobless liberals who shoot drugs and make antifa posters rent free in your apartment all day.

would rather pay dexter morgan to make them go missing.

That’s racist tbh

[anonymous]

Free housing for Biden voters, free houses for the bank

What's not to love? Petite Bourgeois BTFO

[Sal29]

Anyone read the news a day a few days ago where a landlord was accused of kidnapping tenants and dumping them in a cemetery because he was angry that he could not legally evict them?

I would vote not guilty if I was on the jury.

[WoofieNugget]

Yeah, squatters are an issue. The only way to get rid of them here besides legal eviction, which takes a year is to move into the house yourself or sell it.

What sometimes happens is landlords actually pay people to leave. Which is ridiculous when they are already out in rent and also the place is probably trashed.

[nosirrahx]

Courts are useless. If you have a problem tenant, pay them to leave.

[jeffl1980]

My sister lives in North Hollywood and manages apartment properties. Her company just went through a large layoff to offset their 30% delinquency in rent payments in her region. She has residents that haven’t paid rent in almost a year. It’s insane.

[Sal29]

My sister lives in North Hollywood and manages apartment properties. Her company just went through a large layoff to offset their 30% delinquency in rent payments in her region. She has residents that haven’t paid rent in almost a year. It’s insane.

It might be time for a mysterious gigantic bedbug infestation at that point.

[jamalfudge]

Big plan by the elites, billionaires and big corporations to bankrupt all mom and pop landlords and then buy their properties for pennies on the dollar.

Suddenly you hate the leftist corporate agenda?

[righteousreason]

confused about the facts here... I have heard there is eviction protection, but is there mortgage relief too? this doesn't make any sense.

sources?

[TraderBrah]

Take your meds

[HaiMeesk]

meh glad i'm not a part of the rentcel racket

[Abzu]

Big plan by the elites, billionaires and big corporations to bankrupt all mom and pop landlords and then buy their properties for pennies on the dollar.

What about regular people who have cash to invest?

Some of us are waiting for the downturn to buy.

People should prepare but they think the bull run will never end. More common people are putting increasing amounts of their worth into overvalued assets. Why are the elites pushing for more novice investors to enter the markets?