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Old 08-01-2012, 05:58 AM   #21
Thinks s/he gets paid by the post
Join Date: Jun 2003
Location: St. Augustine, Fla.
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Originally Posted by KingB View Post
Where do you get CDs earning >8%?

"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
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Old 08-06-2012, 07:25 AM   #22
Recycles dryer sheets
Join Date: Sep 2007
Posts: 79
Be careful about hoa fees, they will and do go up. Also don't just look at what the potential rent is, look at what if someone trashes the place, $$$$$$$, think party animals, and lots of booz. I was a landlord for 40 years, maybe that's why I hate tennants. Also if it's a rental unit you will have to have different insurance not homeowners. Insurance in Fl is high, very high. As mentioned before how soluble is the hoa. I suggest you rent there for a month and see what's going on in the building and the area. Sleep on it and look at the positive and negative side of this purchase. If you buy it you own it and it may not sell fast if you want out.

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Old 08-06-2012, 07:07 PM   #23
Recycles dryer sheets
Join Date: Dec 2011
Posts: 77
A friend of my family's had a rental place in a affordable blue collar area. They had a problem tenant who was finally evicted by the property management company. Prior to the tenant leaving, they poured used motor oil, a carcinogen, all over the walls and floors. The cleanup was to cost more than the house was worth. (This also happens in meth lab type situations.) Not sure what this friend ultimately did...jingle mail, bulldoze, or what.

This is not the norm for landlord experiences for sure, but nevertheless things like this do happen. So far, I have not see returns on rental real estate that make it worth it to me to take that risk over REITs.

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