Oh! And my favourite part. Hipsters are currently gentrifying around my properties. Sell high there, buy low where the poor people go.
Renting to poor people: https://www.biggerpockets.com/renewsblog/2013/10/15/wont-rent-poor-people-section-8/ Exactly what I said.
nooby_mcnoob, I agree with this. Too many landlords worry too much about the poor people credit. I know many low income people who live in an apartment, and would like to rent a house, but they scared their credit will hurt them. Your advice on this problem?
I always advise poor people with kids to understand this: you are a cell, part of an organism. Your job is not to undo the fuckery in your life, but to prevent the fuckery in your children's lives. Set them off in the best way you can, be a firewall for them. Don't worry about houses and Jordans. Focus on school and health. Accept where you are, and see if you can help your children.
nooby_mcnoob, Unfortuantly, this is not realitity. Here is what I have the discovered. The low income want the same. The want the 4 bed room house, nice car, and jordans. And the only want to work 1 job, 40 hours a week. Don't want aparmentent anymore, they want the house and decent car. Typically single woman want this , but only one job.
Poor, educated immigrant families are really the lowest risk, but high turnover. Next is local single educated moms who are not fat and take care of themselves and their kids. There's a reason poor people stay poor. One of the questions I always want answered is something like "my son loves playing video games, how much do you let your son play?" If the answer is something like "only after he's done homework and chores" then it's an automatic +10. If they say "he ain't allowed to play no vidya games", risky.
From my experience, someone who grew up very poor, single parent, bad enviornment. The reason for poor is pure ignorance and spending money on the wrong things and making bad decisions. I didn't know how ingorant I was in life and how stupid I was until I got college educated and start monitoring wealthy people.
Bad credit score is OK, but poor rental history depends on the reasons they give me. "I was going through a divorce" or "my mom died", things I can verify. I have asked for death certificates and divorce agreements before. If it was "the landlord didn't fix the sink in a timely manner" then they can fuck right off.
I know 3 single parent women right now with kids, who live in an aparment and would love to rent a house for these kids to play in, but have poor credit. Your solution?