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Originally posted by KazetNagorraWell, it's nice that she generates the revenue to hire two people to work for her in handling her building and sweet that you actually pay your rent.
My landlord is a middle-aged woman in a wheelchair. To find a tenant she hired a real estate agent, and to handle the maintanance of the apartment she hires a maintenance company. Other than that, she does very little (which is fortunate, because she is incapable of doing regular work).
Yes, if your apartment generates enough $$ to hire people to do the work for you and the tenants actually pay their rent, being a landlord is fine.
If you want to buy a single family residence and rent it out (ATY's $200k isn't going to buy him an apartment building; maybe a condo or a small house somewhere), you're not going to generate the cash to hire someone to worry about the house.
I once was in the position to have to rent out a house while trying to sell it. It was a nightmare. Calls at work about there being bugs in the kitchen. Calls at home that a fuse blew. Hiring and paying for exterminators and electricians. Making sure the lawn is mowed. Worrying about the tenants not paying rent on time. Worrying about skyrocketing property tax. Calls from the town that the tenants were leaving the garbage outside for removal in an improper manner. It was like an extra job. I would not want to go through that again. If I had $200k to invest, I'd pick some nice mutual funds or something. I darn sure wouldn't buy an investment property and rent it out.
Originally posted by sh76It sounds like hell, no wonder why you took that job in a coal mine!
Well, it's nice that she generates the revenue to hire two people to work for her in handling her building and sweet that you actually pay your rent.
Yes, if your apartment generates enough $$ to hire people to do the work for you and the tenants actually pay their rent, being a landlord is fine.
If you want to buy a single family residence and rent it ou ...[text shortened]... utual funds or something. I darn sure wouldn't buy an investment property and rent it out.
Originally posted by sh76So give your nephew a cut of the rent to take care of all that stuff.
Well, it's nice that she generates the revenue to hire two people to work for her in handling her building and sweet that you actually pay your rent.
Yes, if your apartment generates enough $$ to hire people to do the work for you and the tenants actually pay their rent, being a landlord is fine.
If you want to buy a single family residence and rent it ou ...[text shortened]... utual funds or something. I darn sure wouldn't buy an investment property and rent it out.