All Forum Posts by: Mike Dymski

Ignore it, for real...it's baseless.  Or send him the following ice trays from Amazon:

Median household income for 38109 is $35k or ~$31k after tax.  $950 rent x 12 months = $11k annual rent.  $31k after tax annual income - $11k rent = $20k or $1,600 per month net income left to cover all other expenses (utilities, cars, insurance, groceries, kids, activities, etc.).

Median household income for 38128 is $41k or $36k after tax.  $1350 rent x 12 months = $16k annual rent.  $36k - $16k = $20k or $1,600 per month net income left to cover all other expenses...same as above.

Median household income in the US is over $80k or more than double these two zip codes.

From what I read on the forums, section 8 works well in certain markets and not in others.  I own a small apartment community, and I've had no issues with section 8 over the past eight years (a few of the units have section 8).

Ahhh, both presidential candidates helped create the problem...

The "student army".

Incidentally, there is a BP member who invested in 50+ student deals.  He was quoted in a recent Wall Street Journal article about one of the mentorship programs.

The "immigrant mentality" beats the heck out of the "victim mentality"!

It's lack of situational awareness, emotional intelligence, and focus on others' needs.  In many cases, it's the difference between being right and being effective.  Heck, we see it on the forums (and in social media) all the time and it does not even involve big words.  People just want to be right...rather than being effective in influencing others.

It must work; otherwise, it would not be so pervasive on the forums.  It's marketing for gullible clients.  Non-gullible people see right through it...it's easy to recognize those who are doing what they preach vs those who are just selling (all hat and no cattle).

Are the rental properties located in an area where there is no risk of extended periods of vacancy or large rent decreases during all economic conditions?  If so, you are fine.  The same goes for risk of large decreases in value.  If that risk does not exist for all economic scenarios (or you add value), you can always sell and be fine.  Leverage is not risky on it's own...it's risky when combined with the important factors.  Many of us had portfolios during the GFC and had no issues (stable or increasing rent and only minor (short-term) declines in value).

Provide notice, change the locks, and complete the repairs.  Best to change the locks anyway to eliminate any risk or perception of risk with the prior owners (or prior residents).