Posted by gun guru on October 15, 2010 at 17:23:41 from (24.180.85.120):
In Reply to: Re: OT- HUD home posted by coloken on October 15, 2010 at 16:37:05:
I think that the guys I am talking about bought homes that were owned by landlords who had rented to "people on government assistance" Or welfare people, these homes had been HUD homes in the cities in the past. (not good neighborhoods)
I used to have an old boss that owned 4 homes in the city of Detroit. He told me that every year he would get screwed out of a months rent for whatever reason. When a renter moved out the hardwood floors were stripped and refinished, holes were repaired (half-a$$) and he would get $500 per month on average. He ended up selling all 4 homes to a company called Rentco just to unload the homes and not deal with the headache anymore.
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