Make Money As A Slumlord

Be a slumlord? Okay, I got your attention, now the truth. I really don't recommend that anyone endanger their renters with unsafe housing. Much of what people call slumlording though, is simply providing reasonable housing for those with low incomes. It is of benefit to the renter AND the landlord.

Why Do People Rent Dumps?

People rent not-so-nice places because they can afford to. A house that needs paint, has old rusty hinges on the doors, and a dirt driveway - this is a house that cost less to buy, and therefore can be rented for less. Anything major that the landlord does to improve it will result in higher rents, and possibly drive the renter away.

In fact, this often happens. A few years ago my own town enacted its first rental regulations. The fifteen pages of new rules included many non-safety-related requirements, like a minimum of windows, to allow natural lighting, bedroom square-footage requirements, and no peeling paint.

These things are done in the name of low income renters, and yet the result is always the same: higher rent. With that and the regulations against mobiles homes, low income families are moving further away from town and jobs. I mention all this to let you know that if you offer an ugly, but safe and affordable rental, you are providing a real service.

Why Invest In Low Income Housing?

If a nice two bedroom house in a small town costs $130,000 and rents for $800, an old mobile home on a lot will probably cost $45,000 and rent for $500. Notice that the house costs almost three times as much, but the rent you get isn't even doubled. This means the mobile gives you MORE CASH FLOW. That is why old houses and mobile homes (on land) are such good investments.

It's important to note that you'll have more risk and management problems with low income housing. Repairs come up more often, and rent will be late more often, on average. This is why you deserve a higher rate of return. Otherwise, who would want to provide low-cost rentals?

Treat your renters well, and make your places safe. Do these things, and you can enjoy a good return on your investment - even if some want to call you a slumlord.

Posted by Steven W Geer on August 16, 2009 at 01:09 PM

About Steven W Geer
Steven W Geer is affliated with JJ Robb Real Estate Services, which is located in Fort Worth, TX. For further assistance please use the contact information located on the right.

As of 02/10/12 the Steven W Geer RePage is ranked at 5,163 with 225 points.

Local Information for Fort Worth, TX

Latitude: 32.738881 -- Longitude: -97.33379

ZIP Codes for Fort Worth, Texas	76101 76102 76103 76104 76105 76106 76107 76108 76109 76110 76111 76112 76113 76114 76115 76116 76117 76118 76119 76120 76121 76122 76123 76124 76126 76127 76129 76130 76131 76132 76133 76134 76135 76136 76137 76140 76147 76148 76150 76155 76161 76162 76163 76164 76177 76179 76180 76181 76182 76185 76191 76192 76193 76195 76196 76197 76198 76199
Area Code for Fort Worth, Texas	817
Time zone for Fort Worth, Texas	CST

Other Area Cities: Burleson, TX Arlington, TX Keller, TX Fort Worth, TX Bedford, TX Benbrook, TX Colleyville, TX Crowley, TX Haltom City, TX Hurst, TX North Richland Hills, TX Richland Hills, TX River Oaks, TX Watauga, TX Westover Hills, TX Azle, TX Mansfield, TX

Enter our Photo Sweepstakes and Win $200 for your Fort Worth photos!

To see random photos for other cities Click Here.

Submit your photos of Fort Worth and become eligible to win $200. Click Here for details.

Fort Worth is the fifth-largest city in the state of Texas and the 19th-largest in the United States. The city is also large in geographic area as it covers almost 300 square miles and is the county seat of Tarrant County—the 18th most populous county in the country. As of the 2000 U.S. Census, Fort Worth population was 534,694 (though a 2005 Census estimate placed the population at 624,067). The city is the second-largest cultural and economic center of the Dallas–Fort Worth–Arlington metropolitan area (colloquially referred to as Dallas/Fort Worth Metroplex), which is the largest metropolitan area in Texas as well as the entire South, and the fourth-largest in the United States with a population of 5.7 million in 12 counties. Fort Worth was founded as a military camp in 1849, named after General William Jenkins Worth. Today, the city is portrayed as more old-fashioned and laid-back than its neighbor, Dallas. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Fort Worth	Texas	United States
Population	534,694	20,851,820	281,421,906
Median age	30.9	32.3	35.3
Median age for Male	30.1	31.3	34
Median age for Female	31.9	33.4	36.5
Households	195,078	7,393,354	105,480,101
Household population	519,940	20,290,711	273,643,273
Average household size	2.67	2.74	2.59
Families	127,530	5,247,794	71,787,347
Average family size	3.33	3.28	3.14
Housing units	211,035	8,157,575	115,904,641
Occupied units	195,078	7,393,354	105,480,101
Vacant units	15,957	764,221	10,424,540

Visit US Census

Enter our Photo Sweepstakes and Win $200 for your Fort Worth photos!

Make Money As A Slumlord

Local Information for Fort Worth, TX

Latitude: 32.738881 -- Longitude: -97.33379

Lingerie & Perfumes

Wedding Singer

QROPS

Leader Newspaper

Juice Plus is real fruits and vegetables packed with natural antioxidants