Thursday, March 5, 2009

Landlords On The Rise

What would you do with a WHOLE million dollars? Why, rent out the home you couldn't afford for 1.2 millions dollars to tenants who will, eventually, steal your television, the bathroom and kitchen fixtures, and your dog, a new study shows.
"People have decided it's easier to actually buy a home and default on the mortgage shortly after just to have somewhere to live while six other family members work at Taco Bell, taking home food just to survive," claims a respondent from HUD to the question "What would you do with a millions dollars?"
"After taxes, surcharges, and fees, the million dollars actually turns out to be only about $15,000; which is, of course, above poverty level, so they will have to pay taxes on that $15,000. Th solution is to rent out the home you've bought, and live on the street until the tenants pay off your mortgage; unless, of course, they make off with the fixtures..."

1 comment:

Anonymous said...

The trick is to build something that "looks" like a house, sell it to someone who doesn't bother to check that it's just crepe paper and glue stick, then leave the country and live like a king in Croatia.