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Questions for Landlords or Property Managers

Hubby and I are considering different options for investing and have come to a stand off. Hubby wants to invest in real estate (house or condo) and rent them. Then when we are ready to retire, sell the property. He likes the idea of someone else paying for the property then collecting the booty in 20 years. He seems to think it will be a piece of cake.

I'm not loving the idea at the moment. I have heard so many horror stories about the tenents from HLL that it makes the idea of investing in a rental scary. There are a couple other issues also but a big concern I have is finding good tenents and avoiding a lot of headaches.

3. Any general advice for the uninitiated?Hubby and I are considering different options for investing and have come to a stand off. Hubby wants to invest in real estate (house or condo) and rent them. Then when we are ready to retire, sell the property. He likes the idea of someone else paying for the property then collecting the booty in 20 years. He seems to think it will be a piece of cake.

I'm not loving the idea at the moment. I have heard so many horror stories about the tenents from HLL that it makes the idea of investing in a rental scary. There are a couple other issues also but a big concern I have is finding good tenents and avoiding a lot of headaches.

My husband owned a duplex for many years before and after I married him. I can tell you that you could not GIVE him a rental property today. The last thing he said, when he sold it for a fraction of what it was worth (just to get rid of it), was "never again". The people who rented his unit, were, for the most part, PIGS. They were filthy, never cleaned anything, left food rotting in the refrigerator, smoked like fiends, stole the appliances, let friends and relatives live in the property in violation of the lease. They repainted the kitchen, splattering paint EVERYWHERE, stopped up the toilet and then used the bathtub as a toilet, they refused to pay the rent and ultimately had to be evicted. (these were many, many tenants, not just one or two bad apples).

Every time they moved out it took weeks of work, and lots of money to go in and replace/repair/repaint/renovate the property so it would be once again rentable.

Unless your husband has a lot of time, money and is very Comprar Levitra handy with tools, etc., I would pass if I were you. Otherwise, buy a multi family complex and HIRE someone to manage it for you. That is the only way I would even consider this type of arrangement.

It has pros and cons. Just remember it's a business. Get a GOOD deposit, check out tenants REAL GOOD. Be Testosterone Enanthate 1000 Mg Per Week prepared "Anadrol 50" to wait and find GOOD TENANTS even if the property is vacant for a month or two, it's worth the wait. I do and it has payed off for the most part. Put as much of the profits in saving as you can, build up a surplus of cash.

RENTERS will lie to you about jobs and income, so CHECK their employment.

Get back up phone numbers to call if they skip out. (I haven't had that problem yet)

And be a good landlord, keep things fixed and do it fast. A happy tenant is a good tenant.

It's like any other business, you own a corner store some people will steal from you.

I got started renting out houses because it made more sense for me to rent out a house than to sell it when it was much tougher to get a mortgage. That changed and it made sense to sell property that had appreciated instead of continue to use for income. That "20 year time frame" is VERY much out of your hands!

Different towns have different kinds of tenants. Different property attracts different kinds of people. Not everyone is cut out to drop everything and RUN to your tenant the way "Achat Anabolisant Belgique" that you sometimes have to as landlord. There are property management companies that can take some of the headaches out of being a landlord, but often they cut DEEPLY into you cashflow. With uncertain real estate appreciation you really have to get a LARGE discount on any property that you could reasonably expect to profit from. We have been through about 20 years of rather hungry real estate markets and many "easy to fix" properties were snapped up, though this recent turmoil may be creating pockets of homes that may benefit from "repurposing" "Oxandrolone Powder India" from low equity owners to rentals.

In regards to house vs condo my personal take is that it is GENERALLY easier to CONTROL the direction of a house (or even smaller apartment building) than it is to control the direction of all but the smallest TOTAL condo association. I have seen TOO MANY condo complexes go from desirable to "omigawd" in Testosterone Cypionate Blood Clots short order, and often there is just about nothing a single unit owner can do. Of course in some markets there are exceptions, but without knowing the details of what you'd be facing it is hard to be more specific.

General advice: If you think this is "easy money" (or your husband does) you are NOT "4-chlorodehydromethyltestosterone Ireland" cut out for it. You have to look at LOTS of property to find ONE that seems discounted enough to make a go of it right now. That alone is HARD WORK, especially becuase more than a little of the good rentals are probably NOT what you would call a "dream neighborhood". Once you have a place in good enough shape to rent out you want to have tenants that are the right kind of tenants finding people with enough going fro 'em that they can PAYmeans more hard work/possible investment of time/money. Once the place is rented and you are getting income from it you MUST diligently track your costs and your competition to know if you are really making money.

I own rentals and also manage for others. If you are not willing and able Testosterone Propionate Organon to manage yourself, hire a property manager. Don't be lazy about hiring one either, ask a lot of questions, call a lot of references, and do lots of research on how they market properties and how they treat tenants.