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re: TigerLand has gone downhill so badly!
Posted on 10/10/22 at 8:13 pm to td1
Posted on 10/10/22 at 8:13 pm to td1
quote:
As someone who used to have a complex that we ended up turning sec 8, in north br not tiger land, I can say it beats the hell out of hounding people for rent money and has guaranteed rent increases. As long as you do minimum maintenance it’s a goldmine.
We ended up selling it for at least 1/3 more than it would have had it not been sec 8.
Sec 8 is a godsend for complex owners whose properties get absorbed into the hood.
I doubt any of the owners would sell unless the offer was really good. Hard to turn down that govt auto deposit every month.
I mean this in all seriousness, frick you!! People like you are the reason this city is in its demise. Selling out to section 8 guarantees crime, drugs, and lawlessness and drives down the value of anything within a 5 square mile radius all so you can make minimal extra money.
3
Posted on 10/10/22 at 11:28 pm to CockyTime
quote:
I mean this in all seriousness, frick you!! People like you are the reason this city is in its demise. Selling out to section 8 guarantees crime, drugs, and lawlessness and drives down the value of anything within a 5 square mile radius all so you can make minimal extra money.
Posted on 10/11/22 at 5:42 am to CockyTime
quote:
mean this in all seriousness, frick you!! People like you are the reason this city is in its demise. Selling out to section 8 guarantees crime, drugs, and lawlessness and drives down the value of anything within a 5 square mile radius all so you can make minimal extra money.
I would Imagine that the first complex to sell out to section 8 instead of improving their complex on the free market results in rapid accumulation/transformation into all the surrounding complexes into section 8 housing.
I hate that we have section 8 at all.
This post was edited on 10/11/22 at 5:43 am
Posted on 10/11/22 at 11:04 pm to CockyTime
quote:
I mean this in all seriousness, frick you!! People like you are the reason this city is in its demise. Selling out to section 8 guarantees crime, drugs, and lawlessness and drives down the value of anything within a 5 square mile radius all so you can make minimal extra money.
I hate government handouts more than anyone but as a landlord you do not have a choice if you take section 8 or not. I guess you could only own properties with market rents higher than section 8 would pay but most people are not getting their foot in the door with luxury rentals. 15% of Baton Rouge households are on section 8. Given them 50% of households “own” their home that gives you 30% of the rental market is section 8. If you are operating in the fair market rent range in the city the vast majority of your “qualified” candidates are going to have a section 8 voucher. You are required by law to count the voucher towards their income in qualifying. While I don’t support the voucher it would be dumb to cut out 30% of your market because the guaranteed money was coming from the government. The biggest companies in the world rely on government subsidies. Walmart and Amazon courting ebt programs. Tesla and the “big 3” lobbying for car subsidies… and getting them. Hell we give Hollywood and pro sports teams subsidies for entertainment…. You certainly can’t dodge taxes without getting strung up as a little guy so it would be foolish to avoid the fruits of that money the government stole from you.
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