Ghetto & Gentrification

[Anonymous]

[quote=HLS]Discussing tenants by using terms such as
White, Black and Latino is a blatant violation of Federal Law
and if anybody ever heard you utter them, you could get sued and lose everything that you own. Good luck defending yourself.[/quote]

It is a huge risk.

On a recent trip to New York I heard the guy who owns 167 East 61st Street saying things about race, making negative generalizations, etc. And he actually said these stuff on television so there’s no way he could repudiate.

No doubt this guy will get sued and lose everything that he owns.

[Coronita]

In general, I have a rule of thumb.

If you can’t respect your customer, or can’t do business with your customer without feeling some sort of contempt for them, then you probably shouldn’t be doing that business, because you probably won’t be very successful in the long run.

In this particular case. If you really think the rental pool is “trash” and if “trash people” really bother you, well then you probably shouldn’t be doing this.

It won’t take much to push you over, or say something or do something to get in hot water.

Besides life is too short to spend your time dealing with people you don’t like. It’s not like you desperately need the extra income. Or get someone to do it so you aren’t so attached to it.

Can’t hate the ones that feeds you the income.

[Coronita]

[quote=HLS]Freedom of speech allows him to say whatever he wants.
However, the slightest hint of discrimination when
it comes to renting/selling property could cost him everything that he owns.

I know he’s an expert in almost everything and would never pay anyone to do anything, so hearing what the judge would say about his
racism would be interesting (especially if it were a ‘Black’ or ‘Latino’ judge) when he represents himself.[/quote]

Not exactly. In the age of social media, there is no such thing of freedom of speech, in practice. All it takes is one off color remark, reposted with a #YouAreScrewed hashtag, and then well, you have a very big PR nightmare.

If in doubt, ask former Clippers owner Donald Sterling.

[no_such_reality]

[quote=flu]In general, I have a rule of thumb.

If you can’t respect your customer, or can’t do business with your customer without feeling some sort of contempt for them, then you probably shouldn’t be doing that business, because you probably won’t be very successful in the long run.

In this particular case. If you really think the rental pool is “trash” and if “trash people” really bother you, well then you probably shouldn’t be doing this.

It won’t take much to push you over, or say something or do something to get in hot water.

Besides life is too short to spend your time dealing with people you don’t like. It’s not like you desperately need the extra income. Or get someone to do it so you aren’t so attached to it.

Can’t hate the ones that feeds you the income.[/quote]

+1.

I also subscribe to the theory as a landlord that my place will be a place I’d want to live in if I end up in that target social/financial situation.

[spdrun]

I almost prefer less “nice” areas at this point. I have a friend who lives in an area of Queens that some people might turn their noses at. But there are a lot of advantages. Food/clothes are cheaper than in Manhattan or in the suburbs. Did I mention food? Lots of good Indian, Latin American, and Middle Eastern restaurants. You can buy a real detached house, not an apartment, for $250-300k, maybe less if a lot of renovation is needed. Shorter commute than from the ‘burbs, subways run every 10-15 min, and no train change is required to get to most of lower Manhattan. Actually more convenient than trendier parts of Brooklyn in that respect.

[FlyerInHi]

Not a bad rule but not a necessity to success.

Actually I like my tenants because I screen them myself and I don’t hide behind property managers. I have not has an eviction yet. What i don’t like iis the unsavory characters that other owners rent to. Many owners are accidental or absentee landlords and totally clueless.

Responsible owners have to pay for the damage that deplorable residents cause. Like mattresses and furniture in dumpsters.

Some people mentioned possibly living in a rental until as a criteria to be in business…. I don’t think so. Plenty of successful people sell goods and services they would never use themselves.

[quote=flu]In general, I have a rule of thumb.

If you can’t respect your customer, or can’t do business with your customer without feeling some sort of contempt for them, then you probably shouldn’t be doing that business, because you probably won’t be very successful in the long run.

In this particular case. If you really think the rental pool is “trash” and if “trash people” really bother you, well then you probably shouldn’t be doing this.

It won’t take much to push you over, or say something or do something to get in hot water.

Besides life is too short to spend your time dealing with people you don’t like. It’s not like you desperately need the extra income. Or get someone to do it so you aren’t so attached to it.

Can’t hate the ones that feeds you the income.[/quote]

[FlyerInHi]

[quote=spdrun]I almost prefer less “nice” areas at this point. I have a friend who lives in an area of Queens that some people might turn their noses at. But there are a lot of advantages. Food/clothes are cheaper than in Manhattan or in the suburbs. Did I mention food? Lots of good Indian, Latin American, and Middle Eastern restaurants. You can buy a real detached house, not an apartment, for $250-300k, maybe less if a lot of renovation is needed. Shorter commute than from the ‘burbs, subways run every 10-15 min, and no train change is required to get to most of lower Manhattan. Actually more convenient than trendier parts of Brooklyn in that respect.[/quote]

I’m with you.

My friend’s mom lives in a gated community in jersey and commutes to queens 1 1/2 hour one way everyday to go to work. She’s always tired and angry. The mom is all about perceived status and self inflicting the commute pain.

BTW, i don’t mind old and not perfect. But I don’t like people causing damage to their own neighborhood. Of course, new is better because better off people want clean and up to date.

If I lived NYC or any big city, I would get an apartment in a decent but not upscale walkup, remodel it with triple pane windows and live in the middle of it all.

[Coronita]

It really depends on individual tolerances. Just pointing out, if you don’t like the rental pool and location, don’t do it. Not worth even bitching about it. Expecting others to change is an unrealistic expectation. The problem is most likely your expectations, not other people.

[spdrun]

If I lived NYC or any big city, I would get an apartment in a decent but not upscale walkup, remodel it with triple pane windows and live in the middle of it all.

Why not a house within city (5 borough) limits?

Tax is measured in the low hundreds per month, no co-op/condo board restrictions on rentals, and you can end up paying less than an apartment in the right (wrong?) area.

[FlyerInHi]

[quote=flu]It really depends on individual tolerances. Just pointing out, if you don’t like the rental pool and location, don’t do it. Not worth even bitching about it. Expecting others to change is an unrealistic expectation. The problem is most likely your expectations, not other people.[/quote]

I agree flu. The bitching is more for fun. I shouldn’t expect high in a low neighborhood.
I can see how new gentle people moving into gentrified neighborhoods face resistance. That will only increase as the CBD revitalize, after I’m dead, haha

[FlyerInHi]

[quote=spdrun]

If I lived NYC or any big city, I would get an apartment in a decent but not upscale walkup, remodel it with triple pane windows and live in the middle of it all.

Why not a house within city (5 borough) limits?

Tax is measured in the low hundreds per month, no co-op/condo board restrictions on rentals, and you can end up paying less than an apartment in the right (wrong?) area.[/quote]

In NYC, i would rather live in Manhattan. A nicely remodeled apartment above a store in Chinatown would be awesome. A friend lived in an old apartment while going to NYU. The food and groceries are awesome. Fresh an inexpensive. The outer Burroughs are too far.

[spdrun]

The advantage of some parts of the outer boroughs is that you can get certain ingredients and have them be cheap and fresh. (i.e. multiple varieties of plantains)

Problem with Chinatown is that most buildings have not been co-oped and condoized, so the number of apartments (for sale) are slim pickings. Besides, NYC actually has at least three Chinatowns.

[FlyerInHi]

one dude got caught on camera stealing from inside a truck. Police came get him.

I can’t wait until light fixture are also built in cameras.

Maybe we should also check social media when screening tenants. I think in China they are working of aggregating all info go create a trust index.

spdrun, I know you hate big bro. But many landlords are jusf clueless when it comes to screening tenants. One lady in her 50s came to the HOA meeting crying about all her bad tenants.

[spdrun]

Where did cameras come into this discussion?

If you want outdoor cameras, fine. If you want cameras on indoor light fixtures in your rentals, screw you. What you’re proposing is likely illegal, with good reason. If you install something like that, you deserve to be slapped with a large lawsuit, if not jailed.

[FlyerInHi]

No…. light that double as cameras everywhere outside. Property manager’s dream

[Author]

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