Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
So you wanna be a landlord...
Old 08-02-2007, 08:04 PM   #1
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
So you wanna be a landlord...

The following is an excerpt from a local realtor's monthly e-mail:

"http://tinyurl.com/38x9y5 is a link to a six-picture slideshow titled 'A
Landlord's Nightmare' that is making the rounds on various networks. The
pictures don't show the true condition of the townhouse, as they were shot
after numerous beer cans had been removed to enable access. Plus, tunnels
connecting various rooms had been collapsed. The tenant was a single man
living in Ogden, UT who had been renting the property for eight years. His
property manager considered him to be one of their best tenants, as he
didn't complain and always paid his rent on time. What we don't understand
is why the property manager would publicize the fact that they don't conduct
internal inspections as part of their job."

I can't believe that these photos were taken after removing "numerous" beer cans. No wonder the aluminum market was being squeezed!
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-02-2007, 08:19 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Dude must have had a 350lb liver.
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 08-02-2007, 08:22 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Aug 2002
Posts: 1,322
At least he was health conscious, only drinking light beer. As far as the landlord, the best one can hope for in a rental is for the rent to be paid and the place to not be destroyed. In this case both conditions seem to be met, and the beer cans probably protected the walls and floor.

Edit: Just read that he stopped drinking and got his old job back!
__________________
FinallyRetired is offline   Reply With Quote
Old 08-02-2007, 08:47 PM   #4
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
anyone else think the pics look like fakes?

come on...


living room door blocked by cans? as well as tv, and recliner?
__________________
thefed is offline   Reply With Quote
Old 08-02-2007, 10:04 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
Utah is a strange place
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 08-02-2007, 10:52 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,459
Tryan? whatta you think? I'm not seeing any holes in the walls, any serious smoke damage, any rotten food... Shoot - looks like a profit deal to me - not much to be disposed of that one can't shovel out and sell for scrap. Rent got paid too? and the complaint is.....?
__________________
calmloki is offline   Reply With Quote
Old 08-03-2007, 01:52 PM   #7
Dryer sheet aficionado
 
Join Date: Jul 2007
Posts: 47
The pics have shock value.
However, aAfter 8 years of "good tenantship", this may not be so bad. Lets see, the landlord gets to keep the security deposit for sure and the deposit's ROI since should be positive. The aluminum should be worth something.
Assuming the rent was kept up to market, then just from 100% occupancy rate had been money in the bank.
I expect to replace carpet and paint after 8 years under normal rental use. My last renter did about $1500 damage after two years. A couple years back I had to evict a loser. No fun at all to pay for repairs after someone stole your money.

In 2003, I thought the rentals were the smartest financial decision of my life. What with 5% down, the leverege was something like 30X in 3 years. Now it is still smart but it may be dead money for a few years.
__________________
me_no_boss is offline   Reply With Quote
Old 08-03-2007, 02:45 PM   #8
Full time employment: Posting here.
Arif's Avatar
 
Join Date: Jun 2005
Posts: 761
The apartment doesn't look that bad from a landlord perspective. No big holes in the walls or food rotting on the floor. I've seen a lot worst. If they still have the picture page on mrlandlord.com that will get you scared.
__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
Arif is offline   Reply With Quote
Old 08-03-2007, 05:15 PM   #9
Full time employment: Posting here.
tightasadrum's Avatar
 
Join Date: Aug 2006
Location: athens
Posts: 802
Wow! My tenants would of least offered me a beer. When no one calls about a problem in over six months, I pay a visit. Things break. No news in the rental business is not good news.

Had one tenant send me a note saying they were moving out because I had not done anything about the water problem! WHAT WATER PROBLEM? Walked into the kitchen and water squirted up around my feet. There was a leak in the wall from the kitchen drain, galvanized pipe use in the late forties. Big problem.

Give me beer cans ANY day instead of water problems. My two weeks of vacation that year was used to remove the kitchen floor, dry out the boards and put down new linoleum. Beer cans? Not a problem.
__________________
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
tightasadrum is offline   Reply With Quote
Old 08-03-2007, 05:26 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,031
I think the landlord should have called Coors light .Looks like a perfect place for a commercial .
__________________
Moemg is offline   Reply With Quote
Old 08-03-2007, 05:30 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
I'd have been a very happy landlord.

20 gallons of gorilla glue and I could have built a second house in the back yard out of beer cans.

Double the rent. Tell me you couldnt get a bunch of 20 year old guys to pay big bucks for a house made out of beer cans.

And who cares if they make a mess out of it?
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 08-03-2007, 07:26 PM   #12
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Hey if those cans are worth a nickel a piece the owner made out on the deal ... now the roaches which followed the swill will be a seperate problem.
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 08-05-2007, 05:57 PM   #13
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 359
Quote:
Originally Posted by tryan View Post
Hey if those cans are worth a nickel a piece the owner made out on the deal ... now the roaches which followed the swill will be a seperate problem.
If I were this fellow's landlord, I would be inclined to investigate toting all the cans to a state with a relatively high 'can deposit', I think in some states one could get perhaps 10 cents a piece for them, which given their sheer number, makes it appear that even chartered jet service would be a cost effective way to claim the redemption proceeds.

Although the pictures are a bit shocking, I didn't perceive any serious damage beyond the obvious can removal (and perhaps some airing out of stale beer smells). Personally, any inclination I might have had towards being a landlord disappeared very quickly with the rapid ascent of home based methamphetamine manufacturing operations.
__________________
FinanceGeek is offline   Reply With Quote
Old 08-05-2007, 06:13 PM   #14
Thinks s/he gets paid by the post
bright eyed's Avatar
 
Join Date: Jan 2007
Posts: 1,891
i'd be more concerned about what's under the cans...bugs, drippings of beer...and the stench - if there was carpet that's a gonner...but the place will not smell very nice...
__________________
If i think of something clever to say, i'll put it here...
bright eyed is offline   Reply With Quote
Old 08-05-2007, 08:30 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Something's not right here.

The tenant had to eat and drink things other than Coors Light beer, yet the only discarded stuff in Coors Light Beer cans and boxes. If the guy were just a slob, you'd see some other stuff too. Also, he puts the boxes in one room and the cans in another.

Maybe the renter was a psycho or something.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 08-06-2007, 07:37 PM   #16
Recycles dryer sheets
jnojr's Avatar
 
Join Date: Jul 2007
Location: San Diego
Posts: 56
Send a message via AIM to jnojr Send a message via Yahoo to jnojr
That ain't no nightmare!

I can think of many, far worse, things that he could have filled the house with other than valuable, recyclable aluminum cans
__________________
jnojr is offline   Reply With Quote
Old 08-06-2007, 08:27 PM   #17
Full time employment: Posting here.
Cattusbabe's Avatar
 
Join Date: Apr 2006
Posts: 814
Quote:
Originally Posted by thefed View Post
anyone else think the pics look like fakes?

come on...


living room door blocked by cans? as well as tv, and recliner?
No, its the real deal. 70,000 cans of beer on the wall, 70,000 cans of beer....

His kidneys must be shot.


Beer Can Filled Townhouse Photographs
__________________
A todos los amantes del mundo. No importa el color de su piel, la pasion es universal.
_______________

La tavola e il letto non hanno restrizioni.
_____________
Any day your on this side of the grass is a good day.
Cattusbabe is offline   Reply With Quote
Old 08-07-2007, 08:05 AM   #18
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Yeah, I've certianly had worse ... ok, story time.

Was left with a foster (and grand) mother in a bank owned SF I purchased. She managed to fill 4 garages, the basement, and the 3 bed room apartment with garbage. The clan would literally walk the streets on garbage day and come home with garbage they thought could be sold. The clean up revealed 2 cars, a rotted road kill deer in an unplugged freezer (workers barfed seeing the maggots), and 5-6 dumpsters worth of garbage.

Cans would have been a gift.
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 08-07-2007, 10:09 AM   #19
Recycles dryer sheets
 
Join Date: Feb 2007
Location: nyc
Posts: 100
my pa has a can crusher & he loves to use it. this would keep him amused for weeks!!!

as far as nightmares go, it doesn't seem to bad. like other people said, aside from some floor damage & maybe some roaches it looks like the place is in relatively good shape. given the number of cans, it would probably pay for all the repairs & make up for lost rent, while the place was being fixed up.
__________________

__________________
Celany is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
My disastrous life as a landlord (long) Webzter Young Dreamers 26 08-16-2007 12:42 PM
Landlord Perils tryan Other topics 25 01-31-2007 08:46 AM
Be a landlord? Bah Humbug! MRGALT2U FIRE and Money 38 12-19-2005 04:18 PM
I wanna be a Snowbird! Calgary_Girl Life after FIRE 16 01-28-2005 05:57 AM
Anyone wanna get the ING bonus? Berkshire_Bull FIRE and Money 7 09-29-2004 05:25 PM

 

 
All times are GMT -6. The time now is 05:58 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.