People are furious at buy-to-let landlord who says she makes so much money she drives luxury cars ‘for free’

Sinead Butler
Thursday 03 June 2021 16:09
Viral

Tato Londono has over 1.5m followers on TikTok where she shares financial and real estate tips

(TikTok/tatlondono)

A buy-to-let landlord has gone viral after revealing that she makes so much money that she drives luxury cars “for free” and people are angry.

Tat Londono, a real estate coach and investor shared how she was able to afford her Porche 911 and Range Rover Autobiography that are featured at the beginning of the TikTok.

You can watch the full video here.

Then, standing outside of a building, she says: “I bought this Triplex five years ago, for $800,000.”

“My down payment was $160,000” Londono added, and shared a visual deducting this from the $800,000.

For something that is supposedly “free,” the numbers are adding up quickly...

The real estate investor said after deducting the down payment, this left her with a mortgage of $640,000.

Therefore, her monthly mortgage payment is $2,900 and there is an extra $1,000 in insurance and expenses costs too - paying $3,900 altogether each month.

(TikTok/tatlondono)

So, how is she able to afford this?

The tenants living in Londono’s Triplex pay for it, of course.

“Check this out” she begins, “I get $2,500 in rent for each apartment every month.”

As she has three properties in the Triplex, she multiplies this by three, giving her $7,500 in revenue per month.

Londono then deducts her total expenses ($3,900) from her total revenue ($7,500), leaving her with $3,600 profit every month.

Finally, she breaks down her combined car payment which is $3,500 per month, meaning her profit covers this and even “leaves $100 for gas.”

The TikTok has since gone viral, receiving 5.1m views and over 860,000 likes.

However, many on the internet are not impressed with Londono’s investment methods.

Paul E Williams on Twitter shared the TikTok with the caption: “We should improve society somewhat.”

Williams tweet has received nearly 40,000 likes with many people in agreement, as he continued to point out what he didn’t like about the TikTok.

In a follow-up tweet, Williams couldn’t believe Londono shot some of her video at her Triplex - “Imagine recording this video on your tenants’ doorstep.”

Others also shared their disapproval at the viral TikTok, with some noting the irony of Londono saying she drives her cars for “free” when it’s her tenant’s money she’s using to pay for them.

Also, she had to put a $160,000 down payment on her Triplex - that’s an awful lot of money to label something as a freebie.

Some questioned how Londono’s tenants would feel after seeing where their rent goes.

Another person pointed out that there was a better alternative - where Londono could own her cars outright without being a landlord.

Meanwhile, others questioned whether she really needs two luxury cars.

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