Anyone in the rental property game? - Page 2

PocketElevens · #11 04-17-2006, 02:16 PM

Thank you everyone for the feedback, I find this really helpful.

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you make your money off the appreciation. go single family. i hate the duplex i own. i havent raised the rent on the duplex in 3 years and it's worth the same amt. the single family barely covered costs when i first bought it. now i cash flow more than the duplex on it after 2 years and it's appreciated beyond what i had hoped.

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This is kind of what I was thinking. I also like the advantage of dealing/chosing 1 tenent. Also the rent is high enough to filter out most of the undesirable tenents.

My friends family for what ever reason rented thier house for about 10 years. They where a decent family and treated the house as thier own. I think nice family with a good credit rating is what to look for.

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i'm an out of state landlord. i let a management company look after everything for me. i have lost, on average, $72 per month since handing the property over to a rental company.

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Thats doesnt sound too bad. If managing a property took 4 hours a month of my time, Im much better off working 4 hours of overtime for $200 and paying a company $72 to take care of the property.

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If you are starting with a small building, I think it is extremely important that you are very close to the property and that you make a number one priority of having good tenants with jobs and good credit

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Yes I have heard this. The last appartment I lived in the landlord payed $70 for a credit check on me. He told me that hes never had a problem with anyone with a great credit rating. Somthing I plan on doing for sure.

Thanks for the feedback this is very helpful, If anyone else has rental experience I'd love to hear about it.

neuroman · #12 04-17-2006, 06:33 PM

I'm not trying to hate, but if you're going to be in the real estate game you should really learn how to spell tenant.

PocketElevens · #13 04-18-2006, 08:55 AM

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I'm not trying to hate, but if you're going to be in the real estate game you should really learn how to spell tenant.

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Other then the lease there's not going to be much paper correspondence with the "tenants" [img]/images/graemlins/smile.gif[/img]

So I don't think my poor spelling is going to make or break me in this endeavor.