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Thread: Would you buy real estate right now?

  1. #31
    Senior Member iris lilies's Avatar
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    The film Pacific Heights is my second favorite cautionary tale about tenants from hell.

    My favorite tale (this one a true story) was circulated on Mr. Money Mustache a few years sgo. While I wont have the details right, the general gist is: a man bought a house. It had a tenant in it and the lease was up. Tenant wouldnt leave. Court battles ensued and the tenant stayed, free of rent, for about three years. He was experienced in this game. The jammed up cpurt system worked in his favor.It was thought that his attorney fees were about half of the cost of rent, which is why he continued to act this way. He had money, he just didn't want to pay it to rent.

    This was in California. The film Pacific Heights was about San Francisco tenant rights. Our friend left SF in part due to escalating costs of landlording in the tenant friendly environment there.

  2. #32
    Senior Member catherine's Avatar
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    Quote Originally Posted by Tybee View Post
    But I know many people have normal, positive experiences with renting, so don't mean to be negative here.
    Absolutely, but it did take the glow off the idea that being a landlord would be something we'd like to do. This falls under the long chapter: "My Real Estate Mishaps"
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
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  3. #33
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    Real estate ownership has so many variables and consequences out of one's control.
    I think this is key. I will never be a landlord again after our unexpected experiences. For us, it was not worth the headaches. I know too that in contemplating a return to Texas that prices are mostly out of our reach in just three years time. It is sad to me that houses have become mostly investments rather than HOME. Many of the little cottages in this city are now AirBnBs thus eliminating housing stock for people who actually just want to buy a home.

  4. #34
    Senior Member Teacher Terry's Avatar
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    When we lived in Kenosha we bought the house next to my parents. The owner knew us well but had moved out and rented it to this couple we knew well. They had wanted to buy the house and were mad so refused to leave. They were a very fussy kid free gay couple which we knew. The place was immaculate. We were moving from out of town and I had my 3rd child due in weeks. When reasoning failed to work we went over there with all the kids and said here’s the deal. We are moving in on Xmas eve with all our stuff. If you are still here hope you love kids and messes because we are moving in and we are not kidding. We had the keys of course. They were out when we got there.

  5. #35
    Senior Member Geila's Avatar
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    Tybee and Catherine's experiences alone should be enough to discourage any would-be landlord! What a nightmare.

    TT - that is hilarious!
    Last edited by Geila; 11-23-19 at 1:22pm.

  6. #36
    Senior Member rosarugosa's Avatar
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    That is a great story TT and Geila, the vibrators on the dish drainer - oh no!

  7. #37
    Senior Member JaneV2.0's Avatar
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    I had a friend who had a stately old rental in Portland, complete with Craftsman-type molding and fixtures. When his tenant stopped paying his rent, eviction proceedings began. Finally, when it looked like he was going to have to move on, his renter ripped molding off the walls, piled it up in the basement, and set fire to it on his way out the door. He hadn't reckoned with the outstanding air-tightness of the structure though, and the fire promptly went out. At least that was the story I got.

    My sibling had pretty good luck though, renting their house through an agency, with no real problems.

  8. #38
    Senior Member Geila's Avatar
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    Quote Originally Posted by rosarugosa View Post
    That is a great story TT and Geila, the vibrators on the dish drainer - oh no!
    A few days ago I started getting a bunch of property management ads on my facebook page, presumably from my post on here because I haven't looked at any online. I wonder what will show up next!

  9. #39
    Senior Member JaneV2.0's Avatar
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    Oddly, I have a barrage of real estate ads incoming. Mostly $700K condominiums. Obviously, they'haven't done a deep dive.

  10. #40
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    When we first bought this house, it was a mother - daughter set up; a house with attached apartment. We had tenants and no problems. It was great! We eventually renovated into a one house unit. I am actually thinking of re-renovating back to a house and an apartment. We'll see.
    To the world you may be one person, but to one person you may be the world. - Anon.

    Be nice whenever possible. It's always possible. - Dalai Lama

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