97guns
Full time employment: Posting here.
Sept 2016 post by 97guns on another forum:
"i had a very good property manager that i trusted 100%, this morning he suffered a massive heart attack and passed away this afternoon. now i need to make some decisions.... whether to find another property manager or liquidate everything, ive had the experience of using many property managers over the course of my RE investing, 5 others before this one and every one of them became totally untrustworthy over time, nickel and diming me to no end.
if i liquidate i will clear around 950K and would dump it all into trust deed loans that pay 11-13%, netting me around $114K a year, a nice jump in income from my current $66K through the rents. im undecided and have only given it a few hours thought but im leaning towards selling because im pretty sure an honest property manager does not exist."
I let his wife take over my management duties, she was helping him before he passed and knew exactly what he was doing, the transition was seamless for me with no change in the passiveness of the investment