An Absentee Downtown

[Karl_Pilkington]

Heights your question has been asked numerous times over the years and there never has been any answer.  The only thing I can think at this point is that he's got some type of tax shelter scheme going.  He's a painting contractor who's got contracts with the US Navy which I'm sure are quite lucrative.  Perhaps these real estate "investments" are really just a way to show losses for tax purposes.  There's really no other reason that he would buy up vacant properties and just sit on them.  Its been well documented on this blog that people have approached him to rent his properties and were blown away by the rents he asked for.  Now he or his shill is coming on here crying about there not being any tenants.  Its a total sham.  And as for his labelling us as "ignorant" his analogy of blaming ourselves for not being able to sell our home in a "dead" market is about as ignorant as it gets.  The market isn't "dead" and if you want to sell you have to price your home aggressively.  A good friend of mine just sold a waterfront home for a good chunk of change in this market, why?  he put an attractive price on it and it sold in less than 90 days.  If Hionedis really wanted to lease these places out they'd be leased out.  But really who wants to pay ridiculous rents for a property that hasn't been properly maintained?  nobody and thats why this guy sits on mostly vacant property year after year after year.  Its got to be some type of tax scheme.

[vicupstate]

As long as Hionides is paying property taxes, I really don't care what he does with his properties.

What if Mr. Hionides, or anyone for that matter, is not providing the necessary maintenance to prevent the building(s) from being unsafe and are deteriorating to the point of creating blight? 




Does your answer change if said properties are located in YOUR neighborhood?

[fatcat]

As long as Hionides is paying property taxes, I really don't care what he does with his properties.

What if Mr. Hionides, or anyone for that matter, is not providing the necessary maintenance to prevent the building(s) from being safe and are deteriorating to the point of creating blight? 




Does your answer change if said properties are located in YOUR neighborhood?

1. A lots of his properties are delinquent on tax or mortgages or both.
2. The property owner has responsibility to keep property complied with city ordinance in addition to paying taxes. Such ordinance include keeping the property secure and clean.