Arksansas - Where it's a crime to not pay rent.

[videogamesrock]

One of the reasons CA is so expensive is because they are the opposite - so tenant-friendly that many people just don't want to rent out property, which then creates it's own issues.  It's basically a vicious cycle.

There is NO WAY I would rent out property in CA.  None.  There is just not enough upside as a landlord to deal with the downside.  It is impossible to get someone evicted even if they don't pay rent.  So I'm paying the mortgage, but they're not paying the rent, this goes on for months, and I'm screwed.  I know so many people that used to rent out property, but they eventually sold it to get out of the game, because it sucked so bad.

I imagine there are many states out there in the happy medium, where tenants who don't pay have to get out quickly to mitigate the landlord's losses, and landlords have to act quickly to repair/maintain their property for their tenants.  Those are the only places I'm going to own rental property in the future.

I was under the impression that it was expensive to rent in California because the salaries are high, demand is high, and the cost of buying a house is high. If you have to pay $500k for a decent-sized house, it only makes sense that rent will be expensive. 

In Arkansas you can still buy a house for $90,000 and rent it for $1050. A great place to buy a home.

You have a better opportunity in homeownership In places like Arkansas than any of the nutty blue states.

After all, when has keeping less of your own money and making it harder to earn money ever improved anyone’s life?

Arkansas only has 3 million people for a reason. Poor, undesirable states usually have a low cost of living. The housing costs match the wages. New Mexico is a blue state, and it's cheap because it's poor. I don't like astronomically high housing costs, and I don't like being poor or living in poor cities with few amenities and limited necessities, so I've found a happy medium. Blue or red, these dirt cheap states usually have high obesity rates, limited access to healthcare, lower educational attainment rates, higher poverty rates, and lower life expectancies.

The entire mortgage payment PITI on a $90,000 house is under $500. So anyone can afford one at $16,000 a year income. The GOV will classify that person as living in poverty - but are they really living in poverty just because the gov says so?


Your chance of foreclosure is much lower in AR vs CA.