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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 12:21 AM   #21
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Re: book suggestions on buying rental real estate?

Quote:
Originally Posted by MRGALT2U
. . . No book suggestions for you.
I could write a good one........
Having written several books and sat through many booksigning events and public appearances, I can tell you this. About 90% of the people in bookstores could write a good book. All of them feel obligated to tell actual authors this fact.
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 02:44 AM   #22
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Re: book suggestions on buying rental real estate?

Curious that nobody mentioned commercial RE as an alternative or NNN props. Dealing with companies normally creates less problems as they either pay (and stay) or go bankrupt and leave (disappear, cease to exist and the problems with them). It may take some time to get rid of a bankrupt cie with a lot of stuff left in your prop - especially when we talk of industrial activities (happened to me last year, they were buidling heavy lorries and you cant remove stuff with your small hands...) - but is less of a hassle than families having social / financial problems... Returns are also between 15 and 10% (before taxes) and therefore higher than residential estate. 100% of my income stream is from commercial RE.
My two cents.
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 05:01 AM   #23
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Re: book suggestions on buying rental real estate?

Quote:
Originally Posted by poyet
Curious that nobody mentioned commercial RE as an alternative or NNN props.* Dealing with companies normally creates less problems as they either pay (and stay) or go bankrupt and leave (disappear, cease to exist and the problems with them). It may take some time to get rid of a bankrupt cie with a lot of stuff left in your prop - especially when we talk of industrial activities (happened to me last year, they were buidling heavy lorries and you cant remove stuff with your small hands...) - but is less of a hassle than families having social / financial problems... Returns are also between 15 and 10% (before taxes) and therefore higher than residential estate. 100% of my income stream is from commercial RE.
My two cents.
Good point! I had good luck with commercial, but the old
"location, location, location" is even more important IMHO,
and everyone needs a place to live, but everyone doesn't
need another bookstore, insurance office, etc etc. But, my
experience is the same ( Less trouble with personal/family problems)
The commercial tenant may not pay, but you will probably
avoid some of the other landlord curses.

JG
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 05:07 AM   #24
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Re: book suggestions on buying rental real estate?

Quote:
Originally Posted by ((^+^)) SG
Having written several books and sat through many booksigning events and public appearances, I can tell you this.* About 90% of the people in bookstores could write a good book.* All of them feel obligated to tell actual authors this fact.* *
Almost everyone in the world has a good story to tell, if only they could get someone to write it. I use the anology of the college
professor who could take a terribly dry subject and make it
entertaining. Same with personal life experiences. A good writer can bring it to life and make it a "page turner". This doesn't detract
from actual authors. Many people could do it (write) but few actually do. I am firmly in the latter category. Writing well is hard
work. Thus, I avoid it (except here of course).

JG
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 05:57 AM   #25
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Re: book suggestions on buying rental real estate?

Quote:
Originally Posted by ((^+^)) SG
Having written several books and sat through many booksigning events and public appearances, I can tell you this.* About 90% of the people in bookstores could write a good book.* All of them feel obligated to tell actual authors this fact.* *
Another point about "actual authors" (present company accepted).
I have met a great many people who gave their occupation as
"author". They may never have been published, nor made any money at all, but they wrote and so.......................

Another aside. I am a big Hemingway fan. He believed
writing well was about as hard as work got, but he was
compelled to do it and was religious about it. For example,
a notorious boozer, he didn't drink when he was writing.
However, I suspect he began as soon as he got up from his
desk.

JG
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 09:56 AM   #26
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Re: book suggestions on buying rental real estate?

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I personally prefer to invest in multi-unit housing rather than single family houses.* I look for buildings that do not need much physical improvement but are underperforming due to poor management (squabbling partners, below market rents, etc.).*
Did multi-unit buildings for several years but settled on single family units for the long haul for the following reasons:

- inter-tenant squabbles were too painful (noise complaints, garbage left out, not shoveling/cutting/cleaning, they brought mice/roaches/fleas/drugs/trouble ... )
- SF rents are higher (by roughly 10-15%)
- vacancy rates are lower (about 1/2).

Took a while, but I've finally got long term tenants who treat the homes as if they own the property.* Much harder to get in a multi-family.

I also realize the investment "numbers" simply do not work in the current RE climate in most markets.* I prefer to be a seller in this market.
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 12:51 PM   #27
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Re: book suggestions on buying rental real estate?

Pacific Heights
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Re: book suggestions on buying rental real estate?
Old 01-27-2006, 01:20 PM   #28
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Re: book suggestions on buying rental real estate?

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Pacific Heights
The comical part of that movie is that the landlords troubles really began when he assualted the tenant.* Need to treat property investment as a business ... can't take it personaly, else you'll loose your head.

I've found that even in a liberal tenant friendly meca like MA, the courts protect the reasonable person.
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