People are furious at buy-to-let landlord who says she…

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

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

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.”

We should improve society somewhat pic.twitter.com/8M7GvP93cv
— Paul E Williams (@PEWilliams_) June 1, 2021

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.”

Imagine recording this video on your tenants’ doorstep pic.twitter.com/Azg0bsBGJO
— Paul E Williams (@PEWilliams_) June 1, 2021

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.

How I drive my Porsche and Range Rover for free, Step 1: Spend $160,000
— Chris (@Tinznasty) June 2, 2021

Yeah that's not free in any way shape or form 😂
— BrknLaw (@BrknLaw) June 2, 2021

Interesting she describes profits from rental properties as free money
— Matt Bruenig (@MattBruenig) June 1, 2021

"More Real Estate Tips"
"Tip 1: Just have enough money to buy a property, then use that money to force other people to pay you more than the property is worth to build equity for yourself."
— LexiThotter 🔞 (@LThotter) June 2, 2021

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

Imagine realising that all of your rent goes towards a fraction of your landlords car expenses
— a (@artisanofthealp) June 2, 2021

Could you imagine your landlord shooting a tiktok about how bad she rips you off every month on your own porch?
— Michael (@Elect_Mike) June 2, 2021

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

If she just put her $160k in an SP500 index fund 5 years ago she would have returned enough money to own those cars outright instead of leasing them.
— Daryl Fairweather 📊 (@FairweatherPhD) June 2, 2021

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