Scumbag landlords - taking rent aid to the poor and not paying city taxes

[Honky Tonk]

Well, I see the DetroitYES! Blight Rail is off track once again. This isn't about Big Banks, or rich guys sucking up tax dollars for construction AND demolition of private stadiums, or impoverished chillen' with $700 I-Phones plugged in to their ears, it's about crooked guys playing the system, and not paying their fair share of taxes. Schmuks like me, get up everyday, go in, and have taxes removed automatically, while all the aforementioned, don't feel taxation pertains to them. No one wants to put the poor out into the street, [[well, maybe Yupsters in midtown), but these kinds of subsidies are just another slap in the face for working stiffs, therefore the venom. Good night everyone.

[Bigb23]

And this has to be the biggest logical reasoning fail. A U.S. industry produces big salaries [[and big tax receipts to Uncle Sam) therefore a corrupt program benefitting rich landlords and exploiting the poor should be allowed to continue. Huh?

St Petersburg Fl has a faith based tent city sorta thing with strict  rules,the key is to have something close enough to the city for those  working to be able to be mobile. They are landlocked though because of  the NIMBY thing.

Is that the same place that routs the inhabitants with baseball bats every month because they have no place else to legally go?

[Meddle]

Here's a question for those on the left here, and I am being entirely serious:

Mitt, is that you?

Or maybe Newt?

[Meddle]

how would you get people out of poverty?

How about stopping the Suits from taking multi-million dollar salaries while paying minimum wage?

How about tying the Suits' salaries to the average wage of their hourly employees? If the hourly employees typically get $20,000 or so, the CEO salary should top out at $200,000 or so. If the Suits want more, they wold have to bring to average hourly wage up.

And no layoffs to do it. Suits salaries get cut at least 50% before any hourly layoffs are allowed.

[Bham1982]

How about stopping the Suits from taking multi-million dollar salaries while paying minimum wage?

That would do nothing to get people out of poverty. It would probably increase poverty, as you're losing the tax revenue and job creation from the "evil suits".

I actually lean left on most issues, but have never understood the "progressive" idea that you help the poor by harming the rich. Venezuela is Exhibit A. Wealth is mobile.

Poverty in the U.S. has nothing to do with wages, which are among the highest in the world. It's mostly marginalized groups with a toxic combination of bad decisionmaking and the legacy of bigotry.

[davewindsor]

Anyone know Richard Radner or his father. Absolute scumbags that need to be imprisoned. Hopefully karma does exist and these guys have something horrific befall them.

I'm curious, from an ethics perspective, could this attorney lose his license or be censored by the State Bar.

http://www.detroitnews.com/article/20140328/METRO01/303280040/Detroit-landlords-cash-rent-aid-ignore-tax-bills

Tell you what, next time his property goes on auction, pm me the addresses and I'll up bid him by $100 and take it from him. Or you can do it yourself and you can beat him at his own game. I went to the auction before and all I saw doing drive-bys were boarded up pieces of junk. Nothing in rentable condition, and I don't have the time to go through the entire list.

[Bham1982]

Tell you what, next time his property goes on auction, pm me the addresses and I'll up bid him by $100 and take it on him. Or you can do it yourself and you can beat him at his own game.

You're going to outbid a wealthy property owner on crap homes as a way of "getting back"? Seems like you would be hurt much moreso than Radner.

[davewindsor]

You're going to outbid a wealthy property owner on crap homes as a way of "getting back"? Seems like you would be hurt much moreso than Radner.

No, I'll buy it for $700 and find a realtor to sell it to someone else for a few grand. So I'll make money on the flip. Generally, you can't loose on a building in rentable condition with a tenant for $700. That's why all these guys buy them back at tax sales. They're doing something right or they'd stop doing it. Beat them by their own game.

[Bham1982]

Generally, you can't loose on a building in rentable condition with a tenant for $700.

I know people who have lost big money investing in this type of housing. Seems like very high risk investing, given that low-income tenants are transient, taxes are sky high, there's a glut of housing, city inspectors are tough, and the houses are money pits.

The one guy I know who makes good money on these houses is basically an amoral slumlord. I think it's tough to be a "good guy" and to make money in this kind of real estate; you kind of have to be a d-bag.

[davewindsor]

I know people who have lost big money investing in this type of housing. Seems like very high risk investing, given that low-income tenants are transient, taxes are sky high, there's a glut of housing, city inspectors are tough, and the houses are money pits.

The one guy I know who makes good money on these houses is basically an amoral slumlord. I think it's tough to be a "good guy" and to make money in this kind of real estate; you kind of have to be a d-bag.

You're right about managing it. I wouldn't want to manage it. There are plenty of property management companies that manage this kind of housing that you can hire for a couple of months while you find a buyer and sell it under contract. If it all goes to hell, that's why you set up an LLC to limit your liability for a couple hundred bucks. For these prices, you're going to find a buyer and you're also going to take away the incentive for those slumlords to let these buildings fall to auction. You beat them at their own game. That's the only way to do it.

[Hermod]

How about stopping the Suits from taking multi-million dollar salaries while paying minimum wage?

How about tying the Suits' salaries to the average wage of their hourly employees? If the hourly employees typically get $20,000 or so, the CEO salary should top out at $200,000 or so. If the Suits want more, they wold have to bring to average hourly wage up.

And no layoffs to do it. Suits salaries get cut at least 50% before any hourly layoffs are allowed.

How about tying Miggy's salary to the salary of the ticket takers, program sellers, and janitors at the stadium?