Rental Property Anyone ?

[AwakenedParticipant 35201]

Have you owned rental properties, or owned them in the past, or are considering purchasing some in the future ?

If you owned, what was your experience ? Did you live in it, or was it strictly rental property ? ETC. ETC.

If you are considering it, are you planning to live in it ? How many units are you considering ? ETC.

Personally, I am considering purchasing a rental property when I get divorced. I have owned and lived in a rental property years ago when I was single, and am seriously considering to that situation. Overall, I lived inexpensively, had a NICE sized apt., 2 car garage, small yard and full basement while building equity and paying out peanuts each month as compared to having a single family house. The beauty is that if I get a larger building, I can live for free, make money, and build equity.

In a World of Justin Beibers Be a Johnny Cash

[It’sallbsParticipant]

I buy repossesed flats rent them out and flip them-live in one of them

http://www.leavemeansleave.eu

[Anonymous 3]

It’s rather difficult to make it work. Turns out most people don’t actually have money and don’t like to pay rent. And it’s quite troublesome to actually evict them. They’ll probably damage the unit as well on their way out.

For all the talk, the vast majority of people seem to be broke. Especially those that live in apartments.

People with any type of money tend to want to buy houses. The only reason they pay for those is the government forces them to pay the taxes and the banks have the full power of the law behind them. And also the banks charge obscene prices anyway so even if it takes several months to foreclose it’s not that much of an issue for them. Especially when you consider the money lent out for the mortgage in the first place is invented out of thin air to begin with, and usually just packaged into RMBS and brought by the government, so it’s two bites of the same apple.

It’s easier just to purchase securities, including REITs.

[AwakenedParticipant 35201]

Anonymous wrote:

It’s rather difficult to make it work

Have you owned any, or currently own any ? If so, what are your Personal experiences ?

Anonymous wrote:

It’s easier just to purchase securities, including REITs.

I agree that buying investments is easier, but I can’t live in those. LOL

In a World of Justin Beibers Be a Johnny Cash

[AwakenedParticipant 35201]

It’sallbs wrote:

I buy repossesed flats rent them out and flip them-live in one of them

What have your experiences been ?

Has it been profitable as well as living expense limiting ?

In a World of Justin Beibers Be a Johnny Cash

[Old RottweilerParticipant 1520]

I had rentals for over 40 years. About half the time you get good tenants. Ones that pay the rent and don’t trash the place. You are always considered the rich landlord. The only way you really make money is if property appreciates, which I don’t think it will do right now.

If it were me I would rent and save my money until property crashes. Then I would buy.

The other major concern is the eviction laws where you live. Often tenants have more rights than the landlord depending on location. It could take you six months of no rent and them trashing the place to get someone out. I could write tenant horror stories for pages.

[Branched offParticipant 10929]

I have one. Its OK but the income is not as good as other investments, However it is safer from being wiped right out than most things -you at least own something real. Gold is safer but it pays no dividend.

There is quite a lot of irritating micro management -talking to tenants and neighbours, complying to ridiculous laws like you need a legionella risk assessment, like you can’t put in a new light switch unless you are a qualified electrician. It all eats your time and money.

Then you have to take some crap from tenants but must not take too much. If they have a leak at midnight you need to deal with it but if you are always jumping when they call you are their bitch. My tenant is a single mother vegan. She has fridge magnets of lovely fluffy animals that I view as tasty quarry species. I have to deal with her entitled feelings, her incapacity to do anything herself and her unrealistic demands. On the plus side she is post wall and not likely to go anywhere unless she gets another man who will keep her and I can’t be that bad a landlord or she would have shipped out. She can’t be that bad or she would not have paid the rent. Its pretty good really. A relationship with a tenant is never perfect -its your house, its their home both have to work to see that without letting the other take advantage.

Just check out the housing market first. I would get in when it is low. So much easier to tell someone to do that than to do it right! Check the government climate too. In the UK the government are giving less and less breaks to landlords. Why? because they have money so they can help pay for all the single mothers and such and because the housing market is intergenerationally over heated.

Its a good thing to have in a diversified portfolio. When the housing market is on a run people who max out tier investment power and borrow to the hilt look like real winners, when it falls they look the opposite.

A woman is like fire -fun to play with, can warm you through and cook your food, needs constant feeding, can burn you and consume all you own

[Eric LauderParticipant 12043]

I own another house, and it’s rented to a family. Sometimes they’re late on payments, but it’s a matter of days, never more than 10 days, usually they’re either regular or it’s just only 2-3 days later than the date established by the contract, not a big issue.
The main issue it’s when they leave, because the money you got as warranty could be insufficient to repay damages: the warranty should be three months of rent in advance, but most times it’s just only a month, at best two.

SUPREME LEADER KIM JONG-UN'S FASHION STYLIST - if you want a new look or if you're a very beautiful trans you can call me, phone number +85079255312 / mobile 01921421211. The worth of a man isn't the usefulness that women get from him. Avoiding living with a woman, a man isn't rejecting a lot of sex: he's rejecting sexual starvation. MGTOW IS TACKLING DOMESTIC VIOLENCE IN COMPLIANCE WITH CONVENTION OF ISTANBUL: http://www.coe.int/en/web/conventions/full-list/-/conventions/rms/090000168008482e --- Article 4, Section 4 "Special measures that are necessary to prevent and protect women from gender-based violence shall not be considered discrimination under the terms of this Convention". WHAT I LEARNT FROM A GENDER STUDIES CLASS IN LUND, SWEDEN: every time feminists accuses men of doing something, odds are likely either them or persons associated with them are doing the exact same thing but a lot worse. WHO I'M RIGHT NOW https://www.youtube.com/watch?v=J1okpAj7Fhw Basically my former life have been a conflict between this https://www.youtube.com/watch?v=yz_RQVkvke4 and this https://www.youtube.com/watch?v=dFIMeyTK-sU That's, more or less, all about me.

[Bob DylanParticipant 1351]

I have owned an apartment complex, several duplexes and some single family houses. Finding / screening for good tenants is key. Renters are mostly f~~~ing animals and do not give two s~~~s about your property.
Seriously, I could write a book. Living on the premises or nearby gives you some advantage. Tenants, like women do not take responsibility for their f~~~-ups.

What did work out well, was a block-construction, climate controlled storage complex. I had a house and very large garage on site. No pools for fools, toilets plugged with kid toys, pet problems, trashed carpets/drywall/appliances. Property taxes and insurance were much less.
Also, without the ‘people amenities’, you will have more rentable square feet of space on the same amount of land. If you make a study in your area, you might be surprised to find out the square foot rental rates of apartments compared to storage.

..it ain't me babe...it ain't me you're looking for, babe...

[joetechParticipant]

If you have the time, energy, and expertise to manage the property yourself it’s probably a good investment. However, if you’re an absentee landlord that relies on a management company then it can be a nightmare. I had a house on the east coast that I rented out through a management company and the tenants were constantly trashing the place. I finally sold the house and swore “never again”.

"Don't follow in my footsteps...I stepped in something."

[It’sallbsParticipant]

Anonymous wrote:

And it’s quite troublesome to actually evict them. They’ll probably damage the unit as well on their way out.

This is true.

http://www.leavemeansleave.eu

[It’sallbsParticipant]

Old Rottweiler wrote:

The only way you really make money is if property appreciates,

Correct it’s along term game.

http://www.leavemeansleave.eu

[StealthParticipant 5335]

Ive known a lot of people in the investment property game. Treat it like a second job, put in lots of sweat equity, and you might come out well.

The discussion of whether or not to invest in rental property comes up a lot in investment forums. A common preferred option is, instead, to invest in total market index funds, which are likely to make the same amount of money as rentals, but without all the headaches and lack of liquidity or diversification.

Two websites I look at for real estate are nononsenselandlord.com and biggerpockets.com

"Once you’ve taken care of the basics, there’s very little in this world for which your life is worth deferring." -David Hansson. "It’s not when women are mean or nasty that anything is out of the ordinary. It’s when they are NICE to you that you have to be on high alert..." -Jackinov.

[AwakenedParticipant 35201]

It’sallbs wrote:

Old Rottweiler wrote:

The only way you really make money is if property appreciates,

Correct it’s along term game.

I made money coming and going when I did it. I was fortunate enough to buy on the low side, but my rents paid for the mortgage, expenses and taxes while providing me a place to live, and when I sold the place my tenants had built me a lot of equity along with market appreciation.

Personally, I don’t think it would have been as personally profitable or as much of a good investment if I didn’t benefit by living there, and I was paying an additional mortgage to live elsewhere.

If I do it again, it’s definitely to live there as well as to work there. I always viewed my home as a part-time business FIRST, and “My Home” SECOND.

In a World of Justin Beibers Be a Johnny Cash

[AwakenedParticipant 35201]

It’sallbs wrote:

phoenix wrote:

And it’s quite troublesome to actually evict them. They’ll probably damage the unit as well on their way out.

This is true.

Apartments will get damaged, and tenants will screw you out of rent. It happened to me and I FULLY EXPECT that it will happen again if I choose to go down this road again.

My father gave me some advice long ago about business in general, and he said, “You’re NOT going to win them all, and you may not always make money, but if you’re ahead of the game MOST of the time, then what the hell else do ya want ?”

In a World of Justin Beibers Be a Johnny Cash

[AwakenedParticipant 35201]

Stealth wrote:

A common preferred option is, instead, to invest in total market index funds, which are likely to make the same amount of money as rentals, but without all the headaches and lack of liquidity or diversification.

I was looking at this as an Investment, but also a place that will PAY me to Live there instead of the other way around.

This may not be the case in some areas, but in my area of the states this is easily doable if one is willing to put in the down payment, and the sweat equity and time needed to repair, maintain, and manage such a property.

In a World of Justin Beibers Be a Johnny Cash

[743 roadmasterParticipant]

Very high risk, with little reward. However plan to get back into a single unit some time in the future.

In today’s world you as owner have a decreasing number of rights with an ever increasing overhead and liability.
Some states have squatters rights, all of a sudden you and a resident who is not paying rent. On top of that you still have to maintain your property.
You almost not refuse a renter.
Guy down the road has a few small single wides. Rents them out to struggling young people. Religious man thinking he is doing a good deed. The last renters destroyed the place. Right now he is holding the doors closed with 2×4 under the door handle. His church is going to help him out in a rebuild, but think his renting to the public is at an end.

mgtow is its own worst enemy- https://www.campusreform.org/

[MarketWatcherParticipant]

There are easier was to make money. If you have your own tools and can do all repairs yourself than you are one step ahead. I now live in what was one of my rental properties. I got tired of the complaints from the neighbors, the Police calls and late payments. In addition, they f~~~ing break something and expect you to fix it. Had one break the faucet off the kitchen sink and another rip a towel rack off a tile shower wall. When I asked for an explanation I got a sea of blank faces. Yes I made money, but I would not do it again as most of my profit was from tax savings and appreciation of the property. An apartment complex would be more profitable than single family, but then again it comes down to expense control. It’s all BS had some very good points mentioned above.

[MarketWatcherParticipant]

Awakened wrote:

if one is willing to put in the down payment, and the sweat equity and time needed to repair, maintain, and manage such a property

There is your answer.

[ZarathustraParticipant 2246]

I own an older rental property which is a house. The only reason I have it is because I cannot sell it for a reasonable price and I moved to another town. My experiences renting it have not been favourable.

I think if you want to get a rental you have to get one that will attract a decent tenant, a professional or someone who is financially stable. I think if you are looking to buy something reasonably nice with multiple units it can work, but you have to ask yourself:

Who is going to want to rent this unit? In other words, determine the type of tenant you would like (lawyer, some other professional, retired people looking to downsize etc…) and buy a property that would attract these kinds of tenants.

My old house is beat up and I could never rent it to any decent tenants, so I am stuck renting to welfare recipients etc… and that has not been fun…

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