All Forum Posts by: Quincy Lockett

@Mario Morales

Safe is relative. I grew up in D class neighborhoods and have never been a victims of a crime. I owned in D Class neighborhoods for over 20 years. My tenants have experienced no crime. The media hyped certain neighborhoods to be war zones when they are often just areas of dense poverty.

@Jay Hinrichs

Absolutely. I just took a 135k renovated move in ready 2 flat off the market in the Chicagoland area with no offers after 90 days. The neighborhood is D Class. Most marginal income investors refuse to live or manage there. That’s why I cringe when people say there is no affordable housing. There’s plenty, most just don’t want them.

@Mike Hern

This is what most people do when they’re not over extending their budget to get into “better” neighborhoods. Unfortunately we have the problem of relativism. Constantly comparing oneself to others. The reality is, some people’s skills and talents will peak with them in D Class neighborhoods while others will peak with them in A Class neighborhoods. A difficult pill for many to swallow. You never hear the A Class achievers complaining.

@Desmond Fielding

On most of my turnovers there are typically minor repairs that go unnoticed. I take care of those. But the complainer tenant can be a major headache.

What works for me is: Offer to let them out of the lease and return of their security deposit without penalty because you ‘unfortunately cannot provide them with the level of service they require.’

This letter usually snaps them back to reality. They really don’t want to move, they just believe that because they pay you the largest bill in their budget, they deserve the RITZ CARLTON. Truth: no home or apartment is perfect and complainer tenants need to be checked EARLY.

@Nick Kenrick

I agree with @Jay Hinrichs

From my experience in real estate investing there is no “affordability crisis.” There is a shortage of modern 3 bath 2 bath homes w/2 car garages and basements selling for 150K in good suburban neighborhoods. When people at the margins finally get approved to purchase, they generally don’t want the affordable homes.

@Sara Clark

Because you didn’t give many details on the property I will safely assume the property is an apartment in a D class neighborhood. I’ll also assume it’s a 3 bedroom apartment. Your best bet is Sec 8 but not with a 3 bedroom applicant. Try listing the property as a 2 bedroom. 3 bedroom voucher holders want houses and they can get them. While a 2 bedroom VH will be happy to have the extra room.

@Jay Thomas

South Holland requires a license to lease rentals. The licenses are limited per block based on number of existing rentals. You can only get a new license on a block that’s full when a lease expires/revoked. It’s a sophisticated way of controlling the density of voucher holders.

@Melissa Dittmer

1)I would extend the gate closest to the car wash as far to the street as allowable to obstruct the view of the commercial business. 

2)I would at least paint the paneling on the main level and the doors WHITE. It would aesthetically present better.

Good fortune!

@Hannah White

Do not charge a cent more than the HUD allowance. It is illegal to take more money beyond the HUD max. If HUD becomes aware (which they may after a tenant becomes disgruntled) they will bar you from the program and may even pursue criminal charges.

Your best bet is to find comparable rentals and submit them to HUD in the hopes that they may increase their offer. Anything else is foolish. Many people commenting that the tenant pays the difference don't know crap.

@Bruce Woodruff

No joke! I think you’re allowed to get that person’s info to do a background check for potential dangers to other tenants or children but if it comes back clean enough….