- Sep 26, 2016
Different ballgame if you do low-income affordable housing (section 8).in Real Estate ( which everyone needs shelter, right ), times like this cause a lean stretch of income. People are getting laid off or let go, people are spending less and getting less.. So if I was in real estate, I would still be at the mercy of when the tenant pays.
If I had a few houses and the tenants couldnt get to the bank, or lost their job.. I'd have to WAIT maybe a week or another month while they are late on the payment with no recourse. You can't throw someone out over a week or month late rent. But you the landlord will be waiting on your payment if you get it at all. Sure you can kick them out later ( maybe 90 days ) but you went without the income from that place for 90 days. You might never get that income back if they never pay after getting kicked out.