So we have this local slumlord that we find has often looked at the same types of properties we look for: small cabins and cottages, need updates and TLC. He has often purchased properties we rejected but has nabbed some places we would love to have.

BUT there the similarity stops. He buys them, does NOTHING to them, and rents them to anyone. He is always in eviction court. He DOES make money, because he doesn't fix ANYTHING. Tenant told us his ROOF was majorly leaking after a hurricane, LL said, "Well fix it."

Just had a new tenant pay the rent on our newly renovated Toxic Townhouse (not the property, the departing mother/daughter duo were toxic people) and he had the misfortune to stay at a weekly motel owned by this slumlord while waiting for us to be ready for him (he's moving in tomorrow.)

Told us today they moved out after a very short time to a more expensive place because of condition of the motel. Said it was just far worse than we could imagine. And this guy is a tow-truck driver, he's not worrying about Motel 6 conditions, you know?

It's easy to understand. Your tenant rejects are his prime tenant audience. He rents to the people that destroy rentals, don't pay regularly, and make landlording miserable. He knows the only way to profit from that group is to reduce expenses. And I bet he's spending in court costs what you're probably spending in maintenance and repairs.

By focusing on tenant rejects, he has a large pool of desperate tenants to choose from and he doesn't have to make them happy.

He doesn't make repairs because he probably doesn't care about the tenants. Why should he? He's having to drag them into court every month to collect. I probably wouldn't concern myself with their well being either. Of course I wouldn't want to rent to them in the first place.

The flip side of the story are the tenants that put up with these slumlords even when the tenants are paying top dollar and have the credit scores and means to move.

I had one couple living in a 2BR/2BA at $1,400/m that went without AC for 3.5 weeks (illegal in Charlotte) until they couldn't take it anymore. They rented a house from me and paid the balance of their rent rather than stay. I asked why they didn't complain and they said they'd spent a year complaining and it fell on deaf ears. PM kept saying the LL doesn't want to put the money out.

A tenant of mine who lives in a property I'm selling told me the other day his wife went to look at a property. The rent is $1,850/m, $300 app fee and 2m SD. She went in and found the dishes from the previous tenant piled high in the kitchen and all of the furniture they'd left behind was still there. She called the agent to ask when the place would be ready and was told the LL had no plans to clean the place out it was the responsibility of the next tenant. What???

In spite of this I agree with WMH. We don't need the county looking over our shoulder. We need the tenants to help shut these people down. It's no wonder tenants don't trust LL's.

David are you kidding me? Why are you in business? One would think that someone like you would be against "for profit" of any kind. I tolerate most of your drivel, but that's just total nonsense. You're always talking about free market and paying more to contractors determines what you get. Ya, well, that works both ways and there's money in it on the low end. Everyone in this business is a little greedy and everyone has a little slime in them.

Neither of us are any different in that respect. I have A+ properties and I have garbage and you know what, the garbage produces the most cash on the books.

Where can I find more?????

WMH, I bought properties from a slumlord who passed away and when his properties hit the market, it was a freakin FEEDING FRENZY here. I pray that another one of those happens sometime. Not a landlord's death, just an entire portfolio of garbage hitting the MLS.

They were all garbage and everyone knew it and he knew and he did not care. He would rent them to anyone and seller finance to anyone with a little down.

It's not for everybody and not for you, but it is a hidden niche for sure and that's why I've been posting about it lately.

Too bad ya couldn't work out a deal with this slumlord. If he's not making bank on late fees, cuz they pay on time, and he's tired of hearing them complaining (we don't have heat, we don't have a/c, there's no door on the bathroom, ) he can send the tenants your way. And you can give him the toxic duo...

Miss Ally said yesterday, tenants are in transition. You could get the ones going up, he gets the down.

Hopefully his properties aren't too close to yours; it sure brings the neighborhood down. There is a landlord I introduced myself to who has properties very near a couple of mine. Annual turnovers, no one stays more than a year (section 8.) Recently there was a incident where a child was injured, and that property where the injury occurred is for sale. If only the houses were the type I buy, I'd be trying to buy her inventory.

David, there is NO REASON for any LL to support govt intrusions into our lives and our business. The prospective tenants see what this slumlord is offering, but they still move in. Guvmit has no business intervening!

A prospective tenant sees my places, sees the slumlord’s places, and makes his/her decision. Maybe this prospective T did not qualify for my place and had little choice because of his poor credit, poor eviction history, ....; maybe this prospective T liked the slumlord’s cheaper prices. Whatever it is, there is no support for guvmit intrusion!!

Oops- in case it didn't read that way- I was joking about the deal.

David, the landlord I was referring to only rents to Section 8, which has an inspection program. My city had a non-owner occupied inspection program after the housing market crash. I bought my properties during that time period.

There appears to be a need for those places or he'd be out of business?

David MI-- are U serious? you have lost it if you think people o this web site want MORE GOV'T involved in their rentals.

A rental is no longer simply private property once it is rented out, it is now a business. Just like restaurants, gas station, nursing homes, hospitals, the list goes on, they are businesses open to the public subject to reasonable govt regulations. Everyday, every single LL here goes to one of these businesses secure in knowing they have been inspected and regulated for various dangers and hazards.

So U were serious?

If you like regulation so much-- you don't need to go 70 in a 35 just 36 will do it.

I can hear you now--- but officer I was only doing 36-- officer replied yes but gov't regs say no more than 35.

David we all know what more regs mean.

We have a branch in our county called CODE enforcement. I have them on speed dial. When residents see things in the county they can call them and they come out. I don't need, nor do many here, someone telling me -- You know that's not the right pin in that bifold door so I'm rejecting your property for rental.

I use that example because I have FIRST Hand knowledge of it.

Nothing wrong with a little speed. Typical distortion of the subject at hand to make the argument for also.

If you hold all rental units to the same standard, you will drive the impoverished to an even worse place, as they will be priced totally out of housing.

For the sake of speeding, why are there speed limit signs? Government revenue.

I should be able to drive at a speed that I feel safe at. 35 in a 25? You bet I do. 60 in a 55? Oh ya, with people passing me.

You know what happens with people who follow the speed limit law? They have a train of cars behind them, 10 deep, honking for the bozo to get out of the way.

Yes myob, I was serious, I drive 70 in a 35 all the time. Radar detector is legal in MI and 48 other states.

NE, the standard for rentals here is the same as the standard for when owner occupant houses are sold. The requirements are so basic , I don't even require a follow up inspection, nor do I do anything beyond what I would normally do. I absolutely shudder to think of the houses here who can't pass the 2nd or third inspection.

The minute a dwelling is finished, it is "out of compliance" because codes change all the time!

Then if you try to update an older home, you will be forced possibly well beyond means to update to TODAY'S code.

Ken of NY now theres the absurd side of city inspections. AND the money grab by the city, thats all the city is and was worried about. MONEY!!!

In Florida of Hurricanes and tornados are of concerns. After Hurricane Andrew in August of 1992 Miami Dade changed their building codes over night. They threw the old books out and made major changes to the codes. Especially the exterior of the house. Example of a house with brick Installing hurricane shutter most people would attach the shutters to the brick and call it a day. NOT a good idea. The hurricane screws for the shutters must go into the studs behind the brick so you have a 7" hurricane screw that will attach directly to the studs. If not, the brick can be peeled off the house and now the structure is compromised. I can understand the exterior of the house being done properly. However the interior that should not be a problem nor a concern of the counties, city or township.

He has tried to sell a few, but they are not ones we would touch with a ten-foot pole (big-time flood zone, very odd layouts, combined utilities, possible illegal units altogether, etc.)

This guy is a renter's attorney's dream.