| Main Board • lulu lemon Are You A Slumlord |
| 05.07.2014, 22:21 - skiup79a7f - Rank 3 - 28 Beiträge
Are You A Slumlord The property was located in a lower income "rough" area of my town and needed significant cosmetic fixes (and perhaps more than just cosmetic.) I tell you later what I did this week with the property,lululemon canada, but first I want to explore the issue a little further. This post became exceptionally popular and at the time of this writing has over 90 comments as people discussed the pros and cons of investing in lower income areas,insanity workout calendar. Clearly this issue is a hot topic and something most investors will face from time to time,polo outlet. To summarize the comments (in case you don want to read all 90+): That last view in the list seems to be the most controversial purchasing a low income property without any real desire to improve it. I sure you seen the properties as they stand out like a sore thumb. Deteriorating paint,north face jackets, junk cars littering the area,soccer shoes, bedsheets hanging in the windows, and a variety of tenants who I would be nervous talking with, unarmed. Most of the world would look at this type of property and say it must be owned by a "slumlord." No one wants to claim to be a "slumlord." So today I want to look at exactly what makes a slumlord and how to avoid being one,true religion jeans outlet. What is a Slumlord,birkin bag? Wikipedia defines "Slumlord" as "a derogatory term for landlords,polo ralph lauren, generally absentee landlords, who attempt to maximize profit by minimizing spending on property maintenance, often in deteriorating neighborhoods." Using this definition it would seem that the majority of landlords could be defined as a slumlord,herve leger. The main qualification in this definition is "maximizing profit by minimizing spending,toms outlet." I would argue that if you are a landlord and not attempting to minimize your spending on property maintenance then you are spending significantly more than needed. No landlord wants to spend a lot on maintenance. Maintenance is one of the largest expenses a landlord might face and spending money unnecessarily is like throwing money out the window. That why we get multiple bids,louis vuitton bags, often do maintenance work ourselves, and use cheaper options when possible. Why spend twenty when ten will do perfectly fine? Why replace when something can be repaired? I not suggesting a landlord should refuse a property maintenance issue but "minimizing" expenses is key in running any business real estate or other,marc jacobs. Exploiting The Poor I think the key concept that is missing from this definition is "exploitation,mcm bags." The truer definition of slumlord,longchamp outlet, I believe,burberry outlet online, is "a derogatory term for landlords,louis vuitton outlet, generally absentee landlords,sac longchamps, who attempt to exploit tenants and maximize profits by refusing to spend on property maintenance,hollister uk, often in deteriorating neighborhoods." To me, a slumlord is one who takes advantage of a tenant situation in life to maximize their profits. A tenant who cannot afford a more expensive place often has no other option but to put up refused maintenance and deteriorating property condition. Sure, they could move somewhere else. Moving,louboutin, however, is not free. It takes time, money,juicy couture, and acceptance into a new place that might not be any better. Sure,supra shoes, we could talk about why the poor are poor and who responsibility it is to help them. I don want to go there though. In fact,chi hair straighteners, I want to steer clear of the politics and rhetoric and focus on something not often talked about in business: the heart. Do you exploit the poor because they have no other options (or don feel they have other options?) Do you refuse needed maintenance because the tenant won leave? Do you ignore your tenants important requests simply because you don want to spend money? Then you might be a slumlord. Again,asics gel, I don think it mandatory that landlords pay for high end repairs whenever a tenant wants one. However, providing and maintaining basic services with your property even if it costs money is not only good for overall business but also simply the right thing to do. As the Biblical adage states, "What good is it to gain the whole world but lose your soul?" My Decision About the Property As for the property under consideration I decided to pass. For me I decided that the great cashflow but more intensive management did not currently fit where I want my business to be. For others it might be the perfect investment. However, today not so much. This one,karen millen, while it does make money, didn fit my standards close enough. I wish whoever buys it good luck but for me I pass. Let me know what you think below. Adding a comment is easy. Simply enter your name and email (and website if you have one),ray ban wayfarer, write your comment, and press submit. Easy as can be! montblanc 8 killed in ...on in Southern California soccer jerseys can be done with paper coach bags Air bag thief pleads guilty again reebok shoes Aer Arann...to strike over pay freeze |