Rental property

[TennesseeTuxedo]

I have thought about it. But the drama of wheres my rent and drain stopped up has me head scratching. Neighbor has 40 units and works well, but alot are paid by us and uncle sam.

Section 8 tenants can be very lucrative.

 

[Chevy]

I have thought about it. But the drama of wheres my rent and drain stopped up has me head scratching. Neighbor has 40 units and works well, but alot are paid by us and uncle sam.

I'd buy these if I had 3 million laying around and remodel them.... no, if I had 3 million I'd build a few new ones. Oh forget it if I had 3 million I'd just travel and be lazy. I'd go disturb the peace and stuff.

 

[Buck Randall]

This is a house we purchased... any nobody want to guess how much?

https://youtu.be/z5u1cVJ30z8

Looks like you could recoup your investment just by scraping the meth residue off the walls and selling it. ;-)

 

[Little Joe]

I have a few rentals and will acquire a few more in the future but as stated above, if I can't pay cash I don't buy them. I too am allergic to debt, I know I could make more if I would borrow and have more houses but it's sure nice to lay down at night knowing the bank can't come get nothing you own. Rentals are good income and are good for tax write offs. I plan for mine to help me retire at 50 from my day job. I don't make a killing on them but they have helped acquire more assets. One thing with rentals is you need to be pretty handy or you'll spend more than you take in on repairmen, I do all my own repairs.

 

[pricefarm]

I have thought about it. But the drama of wheres my rent and drain stopped up has me head scratching. Neighbor has 40 units and works well, but alot are paid by us and uncle sam.

It really is all about how you manage them. Don't put up with drama and you want have any.

 

[TennesseeTuxedo]

I have thought about it. But the drama of wheres my rent and drain stopped up has me head scratching. Neighbor has 40 units and works well, but alot are paid by us and uncle sam.

It really is all about how you manage them. Don't put up with drama and you want have any.

That's a fact, give an inch...

 

[JMJ Farms]

I have thought about it. But the drama of wheres my rent and drain stopped up has me head scratching. Neighbor has 40 units and works well, but alot are paid by us and uncle sam.

It really is all about how you manage them. Don't put up with drama and you want have any.

That's exactly right. Full month deposit and full month rent up front or you don't move in one of mine. I keep good houses, good tenants, and max rents the market will allow. And on the flip side I'm good to my tenants. If something breaks, I fix it right and fast just like I would my personal residence. Have bought up several and then sold out three different times. First time paid the down payment when I built my house. Second time was when I got divorced. Third time bought in and then liquidated and paid for 100 acres in 4 years. 95% of it was done with borrowed money. It's all about management and buying the right things. And having just a little good luck doesn't hurt!

 

[Little Joe]

Yep, just like a dog, kid or cow gotta get your bluff in early on. I've been blessed with great tenants, one has been with me 8 years another 7 and the other 3 years. Had one try to get by not paying rent, local cop kinda a bully type, different tune when she come home to an eviction notice on the door, still a few days late from time to time but she takes good care of the place and is hardly ever home so less wear and tear on the house. It's a give and take relationship for sure, you gotta take care of them if you expect rent on time.