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Hallelujah out of Rentals
05-13-2009, 02:37 PM
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#1
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Full time employment: Posting here.
Join Date: Jul 2007
Posts: 500
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Hallelujah out of Rentals
I just sold my last rental to a good business customer of mine. it is an excellent fit for him since he owns several units already and has the staff to manage them. After fifteen years I have had enough of doing all the work myself and do not want to do that any more. Long term municipal bonds paying 5.5 to 6% are still available and in my opinion are no more risky than a rental and a lot less trouble. Rentals to me are fine if you have enough of them to hire people to take care of them but otherwise the work will get old. They were good to me overtime but I am glad to see them go. More time for ESR now!
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05-13-2009, 02:43 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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 Quote:
Originally Posted by fisherman
Long term municipal bonds paying 5.5 to 6% are still available and in my opinion are no more risky than a rental and a lot less trouble.
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What? Are you saying your bonds won't call you up in the middle of the night to tell you the hot water heater isn't working? 
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Numbers is hard
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05-13-2009, 03:16 PM
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#3
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gone traveling
Join Date: May 2008
Posts: 3,864
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Hopefully, you won't have as much trouble collecting dividends as rent...
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05-13-2009, 03:58 PM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,298
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Congratulations!
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05-13-2009, 07:30 PM
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#5
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Quote:
Originally Posted by fisherman
I just sold my last rental...
They were good to me overtime but I am glad to see them go.
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One of the two happiest days in a landlord's life...
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05-13-2009, 07:39 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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Quote:
Originally Posted by Nords
One of the two happiest days in a landlord's life...
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Right. And to think some take to real estate like a duck to water.
heh heh heh - did ok with my duplex(15 yrs) but glad to see it go - roughly ten years after I sold my last boat. Different items but similar emotions. 
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05-13-2009, 07:56 PM
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#7
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Full time employment: Posting here.
Join Date: Jun 2005
Posts: 761
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Ah come on you landlords know you love those calls in the middle of the night 
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Right. And to think some take to real estate like a duck to water.
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Qwack qwack
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You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
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05-14-2009, 06:44 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,603
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Funny thing is: I haven't taken a call after 9pm since I went to a cell phone. Just turn it OFF.
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FIRE'd since 2005
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05-14-2009, 09:06 AM
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#9
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Dryer sheet aficionado
Join Date: Oct 2008
Location: Rockford
Posts: 37
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All this money being printed means inflation will return. Your bonds could go down in value as interest rates rise if your yield is fixed. In "normal times" hard assets (real estate) inflate to keep pace, rents rise, whereas that dividend check buys less and less. I like to keep my money/investments under my own control. All my rentals are free & clear so I have my general contractor handle all maintenance, and my son-in-law lawyer handles any other issues. The cashflow is definitely tax advantaged. Besides, driving by the properties gives me something to do.
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05-15-2009, 09:36 AM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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Quote:
Originally Posted by Zoomie
All this money being printed means inflation will return. Your bonds could go down in value as interest rates rise if your yield is fixed. In "normal times" hard assets (real estate) inflate to keep pace, rents rise, whereas that dividend check buys less and less. I like to keep my money/investments under my own control. All my rentals are free & clear so I have my general contractor handle all maintenance, and my son-in-law lawyer handles any other issues. The cashflow is definitely tax advantaged. Besides, driving by the properties gives me something to do.
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Right. I remember a long conversation in the laundry room of my apartment building in Littleton Colorado in the 70's about why he thought stocks were a fools game and a young single engieer person like myself should do rental real estate. Older fella - did maintenance on the laundry room/collected the money out of the machines.
Turned out he owned the building and about 9-10 others around Denver. Coveralls and an old white station wagon got him out of the house.
Later bought his Son a 20 unit starter building for his 21st birthday.
heh heh heh - 
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05-15-2009, 09:42 AM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,298
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Quote:
Originally Posted by unclemick
... Older fella - did maintenance on the laundry room/collected the money out of the machines.
Turned out he owned the building and about 9-10 others around Denver. Coveralls and an old white station wagon got him out of the house.
Later bought his Son a 20 unit starter building for his 21st birthday.
heh heh heh - |
Like the gal & i say - he dressed like a millionaire. Owner mentality - probably saw him picking up gum wrappers in the parking lot too.
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