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Thanks, Obama

Dude was a professional poker player for years, Bake. I don't blame him for cashing in his chips for a safe profitable profession.
 
PhDeac said:
Dude was a professional poker player for years, Bake. I don't blame him for cashing in his chips for a safe profitable profession.
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Playing all night high stakes Holdem at the Trump Taj, where the sand turns to gold.
 
WakeandBake said:
talk about the over-regulation that is hindering your business unnecessarily, please
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Happy to. What area of business would you like me to focus on. HR? Tax? Permitting? Environmental? Pick and I'll give you some.

Here is a quick one from just yesterday concerning some apartment complexes I'm involved with. Obviously we have to comply with non-discrimination fair housing laws, which itself is fine. But the second layer is that to comply, we often have to accept government rent subsidies (even though we have a wait list of non-subsidized renters trying to get in, we can't prioritize them because of fair housing, so we have to take the rent subsidies). The move-in packet for a non-subsidized renter is 12 pages; the move-in packet for a subsidized renter is 77 pages. Why the difference? Because it is basically 65 pages of additional regulations required to get the subsidy (which we don't want in the first place) making it harder for us to evict a subsidized renter than a non-subsidized renter if they don't pay their portion of the rent or if they commit a crime. So we're forced to take the subsidized renter, and then hamstrung by the regulations preventing us from kicking them out when they fuck up, which deteriorates the living conditions for the other tenants (both subsidized and non subsidized) who are fully in compliance and wastes significant resources over and above a normal eviction trying to evict the problem tenant.
 
Are you saying that in NC all apartment complexes must accept rent subsidies?

You realize the reason there are so many extra rules is that property owners had been slumlords and worse over the years, don't you? They want to cover all the things that were done to people who didn't the ability to hold owners accountable.
 
2&2 Slider To Leyritz said:
Happy to. What area of business would you like me to focus on. HR? Tax? Permitting? Environmental? Pick and I'll give you some.

Here is a quick one from just yesterday concerning some apartment complexes I'm involved with. Obviously we have to comply with non-discrimination fair housing laws, which itself is fine. But the second layer is that to comply, we often have to accept government rent subsidies (even though we have a wait list of non-subsidized renters trying to get in, we can't prioritize them because of fair housing, so we have to take the rent subsidies). The move-in packet for a non-subsidized renter is 12 pages; the move-in packet for a subsidized renter is 77 pages. Why the difference? Because it is basically 65 pages of additional regulations required to get the subsidy (which we don't want in the first place) making it harder for us to evict a subsidized renter than a non-subsidized renter if they don't pay their portion of the rent or if they commit a crime. So we're forced to take the subsidized renter, and then hamstrung by the regulations preventing us from kicking them out when they fuck up, which deteriorates the living conditions for the other tenants (both subsidized and non subsidized) who are fully in compliance and wastes significant resources over and above a normal eviction trying to evict the problem tenant.
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How are you hamstrung, 2&2?
 
2&2 Slider To Leyritz said:
Happy to. What area of business would you like me to focus on. HR? Tax? Permitting? Environmental? Pick and I'll give you some.

Here is a quick one from just yesterday concerning some apartment complexes I'm involved with. Obviously we have to comply with non-discrimination fair housing laws, which itself is fine. But the second layer is that to comply, we often have to accept government rent subsidies (even though we have a wait list of non-subsidized renters trying to get in, we can't prioritize them because of fair housing, so we have to take the rent subsidies). The move-in packet for a non-subsidized renter is 12 pages; the move-in packet for a subsidized renter is 77 pages. Why the difference? Because it is basically 65 pages of additional regulations required to get the subsidy (which we don't want in the first place) making it harder for us to evict a subsidized renter than a non-subsidized renter if they don't pay their portion of the rent or if they commit a crime. So we're forced to take the subsidized renter, and then hamstrung by the regulations preventing us from kicking them out when they fuck up, which deteriorates the living conditions for the other tenants (both subsidized and non subsidized) who are fully in compliance and wastes significant resources over and above a normal eviction trying to evict the problem tenant.
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So why are you involved in that business? Why not invest your time and money elsewhere? Not being snarky, I'm genuinely wondering why not get into something less hassle and more lucrative?
 
2&2 Slider To Leyritz said:
Happy to. What area of business would you like me to focus on. HR? Tax? Permitting? Environmental? Pick and I'll give you some.

Here is a quick one from just yesterday concerning some apartment complexes I'm involved with. Obviously we have to comply with non-discrimination fair housing laws, which itself is fine. But the second layer is that to comply, we often have to accept government rent subsidies (even though we have a wait list of non-subsidized renters trying to get in, we can't prioritize them because of fair housing, so we have to take the rent subsidies). The move-in packet for a non-subsidized renter is 12 pages; the move-in packet for a subsidized renter is 77 pages. Why the difference? Because it is basically 65 pages of additional regulations required to get the subsidy (which we don't want in the first place) making it harder for us to evict a subsidized renter than a non-subsidized renter if they don't pay their portion of the rent or if they commit a crime. So we're forced to take the subsidized renter, and then hamstrung by the regulations preventing us from kicking them out when they fuck up, which deteriorates the living conditions for the other tenants (both subsidized and non subsidized) who are fully in compliance and wastes significant resources over and above a normal eviction trying to evict the problem tenant.
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Reminds me when I was on the Grad/Prof Basketball Committee back at Duke. When I started, all the rules were on one sheet of paper in regular font and spacing. But the assholes from Fuqua kept being dicks so we had to add more rules to make it official that they couldn't be dicks. Stuff about cleaning up after your dog and such.
 
2&2 Slider To Leyritz said:
Happy to. What area of business would you like me to focus on. HR? Tax? Permitting? Environmental? Pick and I'll give you some.

Here is a quick one from just yesterday concerning some apartment complexes I'm involved with. Obviously we have to comply with non-discrimination fair housing laws, which itself is fine. But the second layer is that to comply, we often have to accept government rent subsidies (even though we have a wait list of non-subsidized renters trying to get in, we can't prioritize them because of fair housing, so we have to take the rent subsidies). The move-in packet for a non-subsidized renter is 12 pages; the move-in packet for a subsidized renter is 77 pages. Why the difference? Because it is basically 65 pages of additional regulations required to get the subsidy (which we don't want in the first place) making it harder for us to evict a subsidized renter than a non-subsidized renter if they don't pay their portion of the rent or if they commit a crime. So we're forced to take the subsidized renter, and then hamstrung by the regulations preventing us from kicking them out when they fuck up, which deteriorates the living conditions for the other tenants (both subsidized and non subsidized) who are fully in compliance and wastes significant resources over and above a normal eviction trying to evict the problem tenant.
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Is everyone else held to the same standards? Are you receiving tax credits as an incentive for taking subsidized renters? Honest questions.
 
I don't understand entering into a business space that you find unfavorable and then railing on the unfaborable aspects. Just find a different space to work and turn your profit. We own a food store and the local regs around fire, sanitation, zoning, electrical, etc were a huge part of the work and were/are costly and time-consuming. But we knew that going in and still chose that business environment. :noidea:
 
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WakeandBake said:
I don't understand entering into a business space that you find unfavorable and then railing on the unfaborable aspects. Just find a different space to work and turn your profit. We own a food store and the local regs around fire, sanitation, zoning, electrical, etc were a huge part of the work and were costly and time-consuming. But we knew that going in and still chose that business environment. :noidea:
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It's sort of like 2&2 hiring so many women of child-bearing age knowing that 100% of women he has hired and they had children, quit immediately after their maternity leave.
 
WakeandBake said:
I don't understand entering into a business space that you find unfavorable and then railing on the unfaborable aspects. Just find a different space to work and turn your profit. We own a food store and the local regs around fire, sanitation, zoning, electrical, etc were a huge part of the work and were costly and time-consuming. But we knew that going in and still chose that business environment. :noidea:
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Regs change on a pretty frequent basis. For instance, just in my example above, new lease requirements went into effect just this past winter for complexes that have been around 20+ years.
 
ONW said:
Is everyone else held to the same standards? Are you receiving tax credits as an incentive for taking subsidized renters? Honest questions.
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Obviously if you are taking tax credits then yeah, everyone knows the rules. I'm talking about market rent properties in areas with low demographics of certain races. Say there are very few hispanics in a certain area, and those few that are there have low incomes. The market rent property has to take the few who apply, or else get dinged for discrimination. So if those few who apply are all on subsidized rent, then the property is forced by the anti-discrimination framework to take the subsidized rent.
 
Strickland33 said:
How are you hamstrung, 2&2?
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Because it costs $5,000 in resources to evict the subsidized tenant who beats up his neighbor as opposed to the $500 it takes to evict the non-subsidized tenant who beats up his neighbor, because of all the additional hurdles to jump through. So that cost gets either passed on to the good tenants or eaten by the owners.
 
2&2, how would you do anti-discrimination laws?
 
2&2 Slider To Leyritz said:
Obviously if you are taking tax credits then yeah, everyone knows the rules. I'm talking about market rent properties in areas with low demographics of certain races. Say there are very few hispanics in a certain area, and those few that are there have low incomes. The market rent property has to take the few who apply, or else get dinged for discrimination. So if those few who apply are all on subsidized rent, then the property is forced by the anti-discrimination framework to take the subsidized rent.
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So you take subsidized tenants or don't get tax credits, right?
 
Still, you must be making an acceptable profit in accordance with your business plan, or you would pack up and invest your money and time somewhere else. Invisible hands and whatnot.
 
ONW said:
Is everyone else held to the same standards? Are you receiving tax credits as an incentive for taking subsidized renters? Honest questions.
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A lot of cities require you to keep X% of the units affordable in order to build the property in the first place. However, if there were just less regulations people would have just made alot more apartment complexes already and everyone's rent would be affordable.
 
WakeandBake said:
Still, you must be making an acceptable profit in accordance with your business plan, or you would pack up and invest your money and time somewhere else. Invisible hands and whatnot.
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What industry doesn't have equally stupid regulations?
 
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