nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
tryan said:Yup, rentals is not for the faint heart. Still working a vacancy: mice baits reveal another 2 dead mice; fridge is filthy beyond repair; don't ask about the bathroom; 2 dump runs to haul abandoned furniture; 2 abandon cars hauled. Entire unit has been repainted ... now steam clean the rugs; paint rather than replace the cabinets ... AND THEN rerent the place and start all over.
All in all not too bad ... I am thankful I didn't need to evict (he stifted me a month and a halfs rent).
I own a 2-family in Boston and I think its the least painful way to invest in rental real estate. I rent the downstairs apartment out. In 10 years I've had 2 tenents who I got through Craigslist. I can keep an eye on the place, but seldom have to do anything. The rent pays 2/3 of the mortgage and the value of the place has more than doubled since I bought it. However, I put my retirement and after tax savings into index funds rather than more rentalproperties as I'd hate to have all my eggs in the real estate basket and dealing with more than one renter would be a worry and take up too much of my free time.