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[+] 54 points 2 years ago* (13 children)
  • [–] 33 points 2 years ago* (2 children)

    Using my “friends” to pay off a personal debt while making $250/mo in profit off them. See, it’s possible to be a good landlord, everyone!

    Did you share any of what you made from the sale with your “friends” who helped you pay for it and kept it in good condition for you?

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  • [–] 15 points 2 years ago* (last edited 1 year ago)

    It seems like it was a situation where everyone felt like they got a good deal and nobody felt taken advantage of. He gave them a better deal than they were going to find anywhere else.

    To me, it doesn't sound like he was exploiting his friends.

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  • [–] 22 points 2 years ago (5 children)

    You still take someone elses money, just less of it.

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  • [–] 33 points 2 years ago (1 child)

    See, when the Landlord charges reasonable rates, and actually provides services in exchange for that rent (helping update appliances to newer, having paperwork on hand for any code/inspections needed for property changes (that the landlord would ultimately benefit from,) and in general treating it as a matter of 'I have obligations' instead of 'I will do nothing but I will absolutely blame the tennants for the inevetable crumbling of the property.'

    I dislike the concept at base level, but that is a someone who is trying to not be a scumbag.

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  • [–] 2 points 2 years ago* (1 child)

    The renting part isn't even that bad, the owning part and selling for profit is the problem.

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  • [–] 27 points 2 years ago (48 children)

    Can we not shit all over normal people for doing normal stuff? This dude doesn't run Blackrock, he had a single rental property.

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  • [–] 5 points 2 years ago (1 child)

    Hundred years ago it was normal to beat women of they were out of line. Millenia ago it was normal to own slaves. It's also "normal" for the US Healthcare to screw over people who need Healthcare. Just because something is "normal" doesn't mean it's somehow right. Slavery was normal but then different societies over time understood that slavery is not right and it stopped being normal. Beating women used to be normal but over time we learned that's also not right and it stopped being normal. I don't know about you but I don't think ripping people off is right. However ripping people off has been normalized for capital owners (including land lords).

    Nobody should be wishing for his demise (compared to Blackrock and its kin, who I do think should cease to exist), but at the same time he shouldn't be padded on the back for not ripping off his friend as much as he could've. What he did shouldn't be normal.

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  • [–] 2 points 2 years ago (1 child)

    He didn't rip off his friend at all. He took just enough to pay the mortgage and save something up in case of repairs. That isn't ripping him off. That's doing him a favor since he charged him so little.

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  • [–] 8 points 2 years ago (1 child)

    There's a line to draw between exploiting tenants, and compensation for providing dwelling.

    You might even argue the OP creates this ambiguity based on interpretation of the wording, or poor communication.

    For a productive conversation, let's be crystal clear where that line is drawn.

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  • [–] 7 points 2 years ago (2 children)

    This is something I think gets left out, but understandably so when there are so many issues with landlords.

    But, as a property owner, you've got all the liability and are responsible for repairs and ensuring that the property is livable and usable. I think there's a level of compensation you can be earning from your time, but I think that having extremely high rent PLUS the ROI of your property increasing in value over time is double dipping. When you consider that your money is invested in property and you're getting value that way, it IS leeching IMO if someone else is doing all the upkeep and paying a premium for that.

    Looking at the OP that way shows that those people are just exploiting others. But I do think there is such a thing as ethical landlording. But I think generally we're not there.

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  • [–] 6 points 2 years ago* (5 children)

    Someone who needs a place to live in and doesn't have the money or doesn't want to buy their own place. IMO, it is a fair trade as long as the landlord isn't a cunt. The reasons to why they don't have enough to buy their own place have nothing to do with a single landlord, some people don't want to take roots in a single place. If you wanna go to war with someone, go to war with companies, ban companies on owning and renting places, not people.

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  • [–] 8 points 2 years ago (1 child)

    Your "friend" still paid a substantial portion of your mortgage and gained nothing from it beyond being out of the rain. You used him and paint it as mutually beneficial.

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  • [–] 3 points 2 years ago (2 children)

    How is a stable comfortable place to live 'nothing'? If being out of the rain was all it took we'd all live in tents and this conversation would not occur. Owning a house and keeping it repaired/functional is hard and expensive. You don't do your side favors by acting like our boy kept his friend in a locked closet when we all know that isn't true.

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