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re: Tigerland 4-plex

Posted on 2/14/17 at 2:10 pm to
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3850 posts
Posted on 2/14/17 at 2:10 pm to
quote:

When renting out apartments in a slum, how do you get people to move out if they stop paying rent? What if they just won't leave?



You evict them. Once they've been legally evicted, if they refuse to leave you get the police to kick them out.
Posted by baldona
Florida
Member since Feb 2016
20558 posts
Posted on 2/14/17 at 2:42 pm to
Low ball offer see what they say. I don't think I'd pay $210k but maybe $190k?

The main issue with you not having experience, is that if it goes bad you need to know what your losses are going to be.

I will say though, this is the type of thing that would do much better with you owner renting than having a management company do it. You could vet your tenants much better with common sense.

Another thing to consider, how many of them will want a 9month compared to 12 month lease? One of the benefits of having a lower end apt in my college days were 9 month leases.
Posted by Rust Cohle
Baton rouge
Member since Mar 2014
1971 posts
Posted on 2/14/17 at 2:46 pm to
Is that when they pour concrete down the toilet?

I would much prefer a multifamily in an isolated area. whenever you have big areas like that it seems to compound the "ghettoness" of it.
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