One TikTok landlord appears to be going out of her way to prove how much landlords just leech off the rest of society.
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Tat Londono, who bills herself as a “Real Estate Coach,” posted a video last week showing how she drives a Porsche and a Range Rover “for free.”
She explains that she bought a triplex a few years back for $800,000, utilizing a down payment of only $160,000. That left her with a mortgage payment of $2900 per month, with monthly expenses for the building coming in at around $1000 a month.
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But, Londono gleefully explains, she charges $2500 per month per unit in rent, leaving her with a profit of $3600 per month — just about the cost of her two pricy car payments.
Living through a year of pandemic has made the housing crisis in the United States even more apparent. Without eviction moratoriums, millions of people likely would have been tossed out of their homes as sky-high rents and an inability for many to afford property outright anymore have made saving money difficult for the average, non-wealthy American. Faced with repayment post-pandemic, that still may happen.
It’s ignited a conversation surrounding the ethics of Airbnb properties, luxury developers, and for-profit landlords. None of these groups have done themselves any favors, and Londono certainly isn’t making an argument in favor of landlords.
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Londono posts a number of these “educational” videos to her TikTok, explaining everything from how if you want the initial cash to get a real estate license or buy a rental property, you just need to get a “summer job” to how she pays off homeowners’ late taxes so she can swoop in and take the property from them.
And she still has the audacity to complain about having to pay taxes on all this “free” money.
*First Published: June 3, 2021, 6:21 am
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