My latest trip to Gov housing

[longbow]

New venture X is about to be taken over by Y bank. Some fool was dumb enough at Y bank to loan X money. Bank Y didn't even look at it............They trusted the results of the customers previous operations.

X had tried for a year to stay ahead of repairs from damages caused from section 8 housing residents. Owner of X wanted to give back, and he formed a new company to buy the location for pennies on the dollar from a foreclosure. On paper it looked like a good deal. 32 apartment buildings for about $700,000. 50% leased and cash flow to allow for additional repairs to the site over time.

At the end of this month he is tossing the keys to the bank. 65% of the apartments are destroyed, 5 fires and 600 % turnover of employees. Two stolen work trucks, $19,000 in tools gone missing. None of the washers and dryers at the site work, and most were damaged from breaking out the coin drawers.

I'm pretty sure the bank will close it down, let the fire department train on the buildings and level the site before spring.

So far no one has died at this location. We had a police officer waiting for us when we arrived. The owner will not go to the site without police protection.

Someone over the the last month pulled off about 25% of gutters and down spouts for scrap. Almost half the windows are boarded up.

Several residents use screws to secure the entrance doors at night when they are home because they have been kicked in so often.

The residents turned a good thing into a third world hole in less than 9 months.

I'd love to say what center city it is and to POST what ROAD it is but that would be my 30THish mistake of the month. You get my concern for saying what area of town that it is located.

 

[Magneto]

My uncle worked on some section 8 housing in Louisville. All he said was they way the people lived was "inhuman".

 

[CarmelHP]

I've had some "smart" people ignore me when I've told them not to place their property in Sec 8 if they valued either their property or sanity. Usually, after a year or so they come back with a "WTF happened?" kind of sob story about residents BBQ'ing in the kitchen or flooding the house or burning this or that. Fools, fools, and more fools.

 

[Boiled Owl]

Fools, fools, and more fools.

Us the people for allowing a gov't scam like section 8?
The landlords?
The tenants?
or D. All of the above?

 

[jsx1043]

I'd love to say what center city it is and to POST what ROAD it is but that would be my 30THish mistake of the month. You get my concern for saying what area of town that it is located.

I'm not sure if it's the same city or not....but I'm pretty sure I've taken a LOT of runs there.

(<-- )

 

[2ADMNLOVER]

I'd love to say what center city it is and to POST what ROAD it is but that would be my 30THish mistake of the month. You get my concern for saying what area of town that it is located.

I see what you did there .

In about 06 I was working maintenance just west of there at 40th and shadeland , same thing there .

We had a chick pour aquarium rocks into her garbage disposal and destroyed it .

Another unit upstairs had a leak in the shower wall . The "tenants" dealt drugs so they didn't put a maintenance request in because they didn't want us in the apartment .

We found out about the leak after it flooded the downstairs unit .

 

[CarmelHP]

Us the people for allowing a gov't scam like section 8?
The landlords?
The tenants?
or D. All of the above?

Yes

 

[ATOMonkey]

I watched a TV show a while back about a former NFL player who runs a sec 8 apt. in Chicago. He has cameras installed everywhere and does weekly inspections to make sure people aren't wrecking their stuff. I think he also hired a full time security staff to make sure the shenanigans were kept to a minimum.

I wonder how that project is going...

 

[eldirector]

My in-laws have been pressured to take Section 8 off and on for years. They have always refused. Several of their neighbors have gotten into that game, and have lost a TON of money and sold off their properties at a loss - usually needing a LOT of repair. At least one house went from pretty decent (hardwood floors, nice yard, cute place) to condemned in less than 5 years.

I'm routinely shocked by how some folks choose to live. They'd **** where they sleep if allowed.

 

[cburnworth]

I love section 8 renters. I was working on a computer at a complex near above mentioned location. In walks lady asking about her section 8 status, she was 6 months behind. Anyone want to guess what her monthly payment was????? $28 & she still couldn't pay it.

 

[Brandon]

New venture X is about to be taken over by Y bank. Some fool was dumb enough at Y bank to loan X money. Bank Y didn't even look at it............They trusted the results of the customers previous operations.

X had tried for a year to stay ahead of repairs from damages caused from section 8 housing residents. Owner of X wanted to give back, and he formed a new company to buy the location for pennies on the dollar from a foreclosure. On paper it looked like a good deal. 32 apartment buildings for about $700,000. 50% leased and cash flow to allow for additional repairs to the site over time.

At the end of this month he is tossing the keys to the bank. 65% of the apartments are destroyed, 5 fires and 600 % turnover of employees. Two stolen work trucks, $19,000 in tools gone missing. None of the washers and dryers at the site work, and most were damaged from breaking out the coin drawers.

I'm pretty sure the bank will close it down, let the fire department train on the buildings and level the site before spring.

So far no one has died at this location. We had a police officer waiting for us when we arrived. The owner will not go to the site without police protection.

Someone over the the last month pulled off about 25% of gutters and down spouts for scrap. Almost half the windows are boarded up.

Several residents use screws to secure the entrance doors at night when they are home because they have been kicked in so often.

The residents turned a good thing into a third world hole in less than 9 months.

I'd love to say what center city it is and to POST what ROAD it is but that would be my 30THish mistake of the month. You get my concern for saying what area of town that it is located.

judging by what i am taking as hints in your last couple of lines. I have delivered to that dump when i was working down the street for lowes. wise move waiting for cops to show.

 

[96firephoenix]

ugh. I'm living in former sec. 8 apts at the moment. interesting situation. Sec 8 neighborhood bordering our college campus. the school bought the land and decided not to let it be sec. 8 anymore. suddenly crime dropped ~95% on campus.

 

[88GT]

I've had some "smart" people ignore me when I've told them not to place their property in Sec 8 if they valued either their property or sanity. Usually, after a year or so they come back with a "WTF happened?" kind of sob story about residents BBQ'ing in the kitchen or flooding the house or burning this or that. Fools, fools, and more fools.

Not unique to Sec 8 sadly. It isn't being on Sec 8 that drives these behaviors but the mentality that drives these behaviors contributes to a choice to opt for Sec 8.

 

[Sigasaurus]

In my younger years I had hard times when the trades were slow. I opted for the government relief program known as work hard, live right, and carry on. I feel the majority of the programs the government provides don't promote self reliance they promote dependence. Who do you blame the animal in a cage or the keeper serving the food?

 

[88GT]

In my younger years I had hard times when the trades were slow. I opted for the government relief program known as work hard, live right, and carry on. I feel the majority of the programs the government provides don't promote self reliance they promote dependence. Who do you blame the animal in a cage or the keeper serving the food?

I never knew of a zoo animal that left his natural habitat to be cooped up in an enclosure 1/10th the size of his original.

 

[femurphy77]

In my younger years I had hard times when the trades were slow. I opted for the government relief program known as work hard, live right, and carry on. I feel the majority of the programs the government provides don't promote self reliance they promote dependence. Who do you blame the animal in a cage or the keeper serving the food?

That's what it's all about. .Gov wants We The People so dependent on Them The Providers that I honestly believe that there is a concerted effort to belittle self-sufficiency as anti-whatever you want to call it and promote dependence as a way of becoming "One" with the world!

Please God, somebody shoot me if I ever stoop that low.

 

[femurphy77]

I love section 8 renters. I was working on a computer at a complex near above mentioned location. In walks lady asking about her section 8 status, she was 6 months behind. Anyone want to guess what her monthly payment was????? $28 & she still wouldn't pay it.

FIFY

 

[Thomas Carey]

$28 and she can't pay it! I am still shaking my head.

 

[LockStocksAndBarrel]

They have no "skin in the game" so they don't give two ****s what happens to the place they live in. It's another way to "stick it to the man".

Section 8 promotes dependency (as do most other forms of welfare) which gets votes and keeps them in office.

 

[Constructionist]

We will always get more of anything and everything we subsidize.