In a down market or “buyer’s market” people with liquid assets can snap up houses in a flash. The only question is timing… have you bought too high or did you miss the bottom?
But if you DO buy some properties, here’s a quick lesson on how NOT to be a landlord from the San Francisco Chronicle
A landlord couple have been charged in San Francisco with waging a campaign of terror against their renters in a South of Market building, including cutting out the floor supports at one apartment after the tenant went to court to keep from being evicted, authorities said Wednesday.
Software engineer Kip Macy, 33, and real estate agent Nicole Macy, 32, who have addresses in Sausalito and Incline Village, Nev., were arrested Tuesday and charged with felony stalking, felony residential burglary, conspiracy and other counts in the bizarre case of apparent landlord rage. They posted bail after their arrest and could not be reached for comment Wednesday…
When one of the tenants, Scott Morrow, successfully fought eviction, the couple allegedly told workers in September 2006 to cut the beams that supported his apartment’s floor. They also shut off Morrow’s electricity, cut his phone line and had workers saw a hole in his living room floor from below, prosecutors said. Morrow has since sued the Macys.
The couple were also charged with terrorizing two other tenants in the building who began paying the Macys reduced rent after concluding that they were being overcharged under the city’s rent control law.
Prosecutors said the Macys broke into the tenants’ apartment last June and stole $2,000 in cash, a Gucci watch and a cell phone. The tenants, Erik Hernandez and Jason Lopez, later filed a lawsuit accusing the Macys of first changing the locks on the apartment, then illegally entering their unit and dismantling some of their furniture.
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