nc

Who are you people? You seem completely out of touch with the average Wilkes citizen. If you can go get a mortgage any time you want all I can say it is nice to be you. I know people who have been out of work for 2 to 10 years. They are doing what they can just to keep going. There is no way in hello they are going to get a mortgage to build or buy a home.

I hate to admit to it but the housing market crash was the best thing to happen to me financially. At the time we were renting lots and only owned three rental units our self. Mobile home dealers were selling homes for $999 down and would allow you to set them on a rented lot. Almost every renter worked in furniture or textiles and lost their jobs. These homes were near new and foreclosed while sitting on rented land. They had so many in foreclosure they sold them for pennies on the dollar. The home I personally live in had 54 thousand owed if the owner made the minimum payment. I paid 8 thousand for the home that was sitting on a rented lot near Lake Norman. We bought a few doublewides and some singlewides for a steal. They had to just unload them and take the loss. It was a buyers market like no one has ever saw. It hurt the nation but it was the banks fault. I do not think a middle aged person should be allowed to take out a 30 year loan unless the loan is less than 10% of their monthly income. I knew people making mid 20 thousand dollars with a 30 year loan at $500 dollars month. The home sold for less than 75 thousand cash. crazy

Because a mortgage requires a down payment

Also after the housing and mortgage collapse, loan qualifications tightened, greatly limiting who can purchase a home and this drove the rental market.

People build your own tiny home on your very own little hill. Preferably far away from town but not so far you can't run to the ABC Store on your moped. You're welcome.

There are landlords out there that "rent to own" but by all means "buyer beware!!!" The reason I say beware is because if you are renting to own that means you as the tenant/buyer are responsible for any repairs. In this situation you are more likely to find better tenants because the people who rent to own usually can't get the bank to finance a home so they opt to rent to own, The tenant/buyer may do some upgrades on the house as well so they are less likely to destroy the place cause they are hoping to be able to continue to make payments until their home is paid off and they are the owner out right. If something happens and they aren't able to stay there then the landlord benefits because they start the process all over again with the next tenant/buyer.

I can tell you as a former Landlord, it was no picnic in the park. To back up any issues that might arise we had yearly leases and those stated what was expected of the tenant and the security deposit was just that. It was for any damages that might have to be repaired and or replaced which sometimes the repairs were very costly and outweighed the security deposit we were not allowed to use security deposit for back rent. That was another process which started by getting the person evicted thru the courts. Also the property that the renter lives in, the Landlord is supposed to keep coverage on exterior proprietary insurance and the taxes have to come out of that. Which in our case was very costly that is why I am out of it. The aggravation is not worth it in my book. The tenant is the winner.

It is called artificial inflation of real estate prices. Prices of real estate have gone back up and creating another bubble as the incomes nationwide have dropped and unequal compared to the price of homes, rent, cars, and many other things.

2 houses on back street are owned by the same person. Each house has roughly 1000 Sf heated and a 8000 SF lot and the homes have two small bedrooms, one bath, kitchen dining combined, and a medium size living room. They were built in the late 50's early 60's as efficient starter homes for factory workers. He keeps them in good repair for rental homes and tenants keep the yards and place clean. He rents them for $450 a month with a two year lease.

One other home of exact dimensions and lot recently sold for $8k and buyer out half-aessred work into and sold it for $50K and that buyer has done no other work and rents it for $650 a month. Comparable rent for $400-$500 a month. It does not include any utilities or yard maintenance.

Crypt (view profile)	Posted 8:58 pm, 08/29/2016
No landlord answered my question. Does anyone know of a way?

I didn't answer because I never get to sit on my butt and collect money. Every time I turn around I'm working on something or helping a renter with something personal like fixing their car etc. Renters sometimes do better if you try to help. On a good week I'm mowing a bunch of yards after I get home from my day job. You say you own your home so I'm guessing you have maintenance you take care of so your home is up to your standards. Now take the same home and put people in it that don't care about it like you do. You will have more work than normal then double it for each home you have. You will find there is no sitting around being a fat cat. The only rental property that fits your description is rental storage units. That is what I wish I had invested in instead.

springtime123 (view profile)	Posted 8:47 pm, 08/29/2016
poor people have always paid more then wealthy people for their needs.

What blows my mind is if someone is extremely wealthy they get things for free that I can only dream of having. The only benefit to being poor is people do not think about suing me for a big payday. A judgment would never get you through the gates of Disneyland.

No landlord answered my question. Does anyone know of a way?

poor people have always paid more then wealthy people for their needs.

Crypt (view profile)	Posted 8:26 pm, 08/29/2016
I've had my own place for 35 years so there you go. I don't have anything against landlords collecting the rent they're due and they do provide a service, but from what I've seen here in Wilkes the valuable part might be questionable.

It's called supply and demand. When the housing market crashed Wilkes had more people seeking rentals than there are homes available. This post is a 180 from the post below.

Crypt (view profile)	Posted 6:11 pm, 08/29/2016
Landlords by what other legal means could you have people handing you money each month when the hardest thing you have to do may have been to open the door and hold out your hand?

I wouldn't put up with an irresponsible tenant. That includes paying the rent on time every month.

I will have to say I have an excellent tenant. I have no complaints.

I've had my own place for 35 years so there you go. I don't have anything against landlords collecting the rent they're due and they do provide a service, but from what I've seen here in Wilkes the valuable part might be questionable.

Shag is right....I look at it like this for the most part when you lend someone your tools they usually abuse them which you end up having to replace or pay to have fixed due to their negligence. The same can be applied to tenants, there are those that feel like it's not theirs oh well. I'm not saying every tenant is like that but those that have the I don't care attitude makes it hard on those that do care. I can't blame landlords for the most part.

I side with the landlords on this. Also, ALWAYS get a security deposit.

Crypt (view profile)	Posted 6:11 pm, 08/29/2016
Landlords by what other legal means could you have people handing you money each month when the hardest thing you have to do may have been to open the door and hold out your hand?

Landlord provide a much needed service that for many their only other option is being homeless. I'm guessing you must be behind on rent or you have been evicted judging by your post. You have a choice. Walmart sells nice four man tents. You have no idea what a headache being a landlord can be. Renters do not pay their rent then complain about every imperfection in the home. If you want a perfect new home the rent will be to high for you to pay. No reason to be mad at a landlord because they do not force you to live on their property. If that is how you feel about your landlord I'm sure he would be happy if you hit the road.

Landlords by what other legal means could you have people handing you money each month when the hardest thing you have to do may have been to open the door and hold out your hand?