Bobby Lupo -
And this is why Conor will be broke in 5 years
He's the landlord and the government is paying rent directly to him. He's not just building 8 houses and giving them away.
Still seems like a bad idea ....who’s going to pay for upkeep/maintenance? It’s poor people who are moving in , which translates for the most part to people who are lazy , criminals , drug addicts , etc etc....the apartments will turn to shit , Conor will spend more money fixing shit , and the money coming is not worth the headaches he will have trying to run these apartments ....it’s a government funded program , you’re not gona get rich off of that
He’s already rich, so if he’s getting a decent return on his investment it’s smart.
Most real estate investors rent to low income people. If they were wealthy, they prob wouldn’t be renting. Govt programs are great, because the rent usually comes directly from them, so you know you’re going to get it. And not like a regular tenant where they don’t pay, you have to go through the eviction process, and then court to recoup your money. Needed repairs are expected for any RE investment. However those on assistance have an incentive to keep the property in a somewhat decent condition. If they trash it, typically they lose their assistance. They don’t want that.