Investors are Harming our Communities

Investors are Harming Our Communities

You see the houses as you ride through once-beautiful communities.  They purchase the homes for a nominal fee, usually, the doors are painted red, and the bricks are painted gray.  After minor investments in fixing the properties up, they rent them out.  It doesn’t appear that a lot of vetting is done.  There are many of these properties in black communities.   After a period of time, you notice them because the tenants don’t have an investment in the property, and usually don’t maintain them.  The grass begins to grow high.  You might see debris around the property. The owners only care about collecting the rent.  You will never see the owners checking on the properties because if they did the properties would not be in a state of disrepair or they just don’t care because it is not in their neighborhood.  These residences are driving the cost of rent up to the point that average working people cannot afford the rent prices now charged in Atlanta.  Yet nobody seems to be concerned about the working people. This practice is doing great harm to many communities. These investors only seem to be concerned about “the almighty dollar”.  That’s what it is all about. Now we have community blight, rising rental fees, no concerns for neighborhood integrity, and all-out greed.  Just collect the money and don’t worry about anything else.  It’s shameful! As homeowners in neighborhoods with a strong investor presence don’t give in to the “lowball” offers that these investors make.  They are playing the “long game”.  Properties bought now will garner income for years to come while equity is equally growing.  Keep your properties, have a “long game” mentality.  Let your property be income-producing for you and not the investors.  Don’t be conned by a hundred or two hundred thousand dollar offer.  Realize that whatever you are being offered for the property is many times lower than the actual worth of the property.  Don’t fall for the scam.  Keep your investment.  It will pay off in the long run.   Thumbs up, like, and share!!

Marvin Dixon, Founder

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