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Updated about 2 years ago on . Most recent reply

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Nick Kenrick
  • Investor
  • San Jose, CA
38
Votes |
15
Posts

Hesitancy to Invest - is it Morally Right?

Nick Kenrick
  • Investor
  • San Jose, CA
Posted

Hi all,

I've done a little bit of real estate investing - I currently own 3 single family rentals in Indianapolis. I also own my primary residence and plan to convert the garage into a studio. I'm doing fine and see opportunities to grow my portfolio, but the housing affordability crisis has been bothering me lately and has got me questioning if scaling is a morally acceptable thing to do in this climate.

For the longest time, owning a home was the only way for blue collar workers to achieve the American Dream. With interest rates rising and no real decline in demand, it's becoming harder and harder for regular folks to own their own place. And now regular folks who are hoping to afford their own place have to compete with institutional capital and hundreds of out of state individual investors who can afford to take some losses for long-term appreciation plays.

It's just gotten harder and harder for the little guy and I'm wondering - is there more we as real-estate investors should be doing to help? Are we partly to blame? Or are my concerns overblown?

Thanks in advance.

Most Popular Reply

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794
Posts
1,022
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Jeremy H.
  • Rental Property Investor
  • Lafayette, LA
1,022
Votes |
794
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Jeremy H.
  • Rental Property Investor
  • Lafayette, LA
Replied

Absolutely it's morally right to provide decent affordable housing - I provide good housing and restore old run down properties

It's not my problem if someone can't afford a house - it's not a "right" as many would have you to believe. Some people have bad luck and have just been dealt a bad hand. Many more take advantage of social assistance and continue on a path of horrible decision making. 

If anything blame the government for meddling in private market affairs.

Is it right I pay 24-32% in taxes while many people pay none? Is it right I pay for other people's housing, kids they can't afford, food stamps, college degrees?

I have 0 moral hesitancy when it comes to my properties - I'd own the entire city if I could. 

I actually had this come up recently - had to evict a lady. The court shuts down over Christmas, so it took an additional 3 weeks to get her out. She can't afford her rent, yet she can afford alcohol and cigarettes. I'd have evicted her Christmas eve, if I could have. 

The ONLY people I genuinely feel for are the kids of these people. Simply because they are innocent and cannot help themselves like a full grown adult

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