You know, given the laws that prevented deadbeat renters from being able to be evicted during the pandemic there is no way I would own a rental without owning it outright. I know someone who was buying rentals (via loans) and had about 10 of them in the Charleston SC area. They were doing good and building some strong revenue out of it. Then the market crashed and they couldn't find stable renters. On top of that the husband died and he was the maintenance/repair guy for those properties. It was no pretty. The wife lost everything and literally had to start over with only a handful of the possessions they had.
Most property managers are *less* than apathetic. They just want the monthly passive income and the least amount of work to put into it. They will not save you. Mrs T and I had a home we rented out in the Orlando area because we became landlords by default. She owned the home before we met and just started renting it after the Navy moved her to Va. We had some good tenants, one drug dealer/pimp and mostly spend more turning the house over after a renter moved out that we made profit the entire time someone lived in it and paid rent. The property managers we had didn't even do a monthly drive by to see if the house was still standing.
One day I might be like
tomoe's friends, but don't think I'm going to head that route again.
ThunderPoit, congratulations on getting a house! It sure feels much better knowing the place you live is your place. No landlord telling you what you can or can't do. You can put that picture on the wall anywhere you want!
Louis L'Amour, “To make democracy work, we must be a nation of participants, not simply observers.
One who does not vote has no right to complain.”
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