My wife and I both work full time.4 rental properties in total.
>>930137489
>>930137489on the shittest property you rent-out, how much do you make after paying its expenses?
>>930137509
>>930137538~$2K/year @ $525/month In total (2024) I will net $10-12K
>>930137489How did you finance your first rental property?Did you save up for the down payment or use another strategy (e.g., loans, inheritance)?What percentage of your monthly income comes from rental properties versus your full-time jobs?How did you choose the locations for your rental properties?Are they single-family homes, apartments, or multi-unit buildings?Were any of them distressed properties you renovated, or were they move-in ready?
>>930137489Just wait for your first hoarder, or meth addict. You'll get out of that business quick. Why my family got out of that.
>>930137625>How did you finance your first rental property?Purchased with cash (~$30K, no inspection, no realtor).>Did you save up for the down payment or use another strategy (e.g., loans, inheritance)?Saved up the money, I have been fortunate enough to never have a mortgage.>What percentage of your monthly income comes from rental properties versus your full-time jobs?Very little from rentals, majority from our full time jobs.see>>930137590>How did you choose the locations for your rental properties?Near-by rundown properties that are easily accessible.>Were any of them distressed properties you renovated, or were they move-in ready?All of them were distressed. We renovate to an acceptable level then rent out. That being said there are plenty of people willing to move into the properties as-is (i.e. dilapitated and full of garbage)>Are they single-family homes, apartments, or multi-unit buildings?Single family homes.
>>930137893>Purchased with cash (~$30K, no inspection, no realtor).Based cash gang, but no inspection? Bro, you gambling with a time bomb. Hope you like surprise plumbing disasters.>Saved up the money, I have been fortunate enough to never have a mortgage.Big flex, but imagine how many more properties you could’ve snagged leveraging mortgages. You’re playing small ball when you could be raking it in.>Very little from rentals, majority from our full-time jobs.So... charity housing? Congrats on subsidizing tenants' lives while slaving away at a 9-to-5. At least make the rentals pay for themselves.>Near-by rundown properties that are easily accessible.Translation: local crack dens. Hope you’re ready to fight off squatters and the occasional meth lab eviction.>All of them were distressed. We renovate to an acceptable level then rent out.“Acceptable level” = new coat of paint over black mold? Don’t be surprised when tenants bounce mid-lease or the city slaps you with fines. That being said there are plenty of people willing to move into the properties as-is (i.e., dilapidated and full of garbage). Bro... did you just admit to renting trash heaps? Bold move. Slumlord starter pack complete.>Single-family homes.Boomer move. Multi-family is where the real cash flow lives. Enjoy your portfolio of suburban money pits.Verdict: You’re scraping by on hard mode, doing charity work for bottom-tier tenants. Get some leverage, clean up your act, and maybe stop bragging about renting out garbage piles.
>>930137680Have dealt with this before, some people live worse than a caveman.I try to be fair and upfront with people when I have issues with how the place is being maintained. I'm not in the market for surprises.October is fire safety month, I usually use that as an excuse to come in and view the property, check fire extinguishers and smoke detectors.
>>930138053Yeah, no shit. You’re catering to caveman-tier tenants by renting out trash heaps. Garbage in, garbage out. What did you expect, Martha Stewart? Fair and upfront, huh? Bet that conversation goes great when their idea of "maintenance" is piling pizza boxes to the ceiling. You’re not running a charity, kick 'em out if they can’t keep the place livable.Big brain slumlord moves. Fire safety month, aka “surprise inspection month.” But honestly, if you’re renting out hovels, you might as well check if the place hasn’t already burned down.
>>930137987>Based cash gang, but no inspection? Bro, you gambling with a time bomb. Hope you like surprise plumbing disasters.My second job I work as a commercial/residential electrician. I am familiar enough with the trades to know what to look for and am not afraid of getting my precious hands dirty.>So... charity housing? Congrats on subsidizing tenants' lives while slaving away at a 9-to-5. At least make the rentals pay for themselves.Ha! We only have one Section-8 tenant. I'm not looking to make millions. Just trying to set a good example for my kids.I don't rent out a shit pile for a house. I fix it up until it is something I would live in myself.
>>930138381 You’re trying, but your approach feels like a mix of solid hustle and misplaced martyrdom. If you’re serious about setting an example for your kids, focus less on being “fair” and more on building a system that scales without you busting your ass forever.
>>930138305>Yeah, no shit. You’re catering to caveman-tier tenants by renting out trash heaps.Not hardly.>You’re not running a charity, kick 'em out if they can’t keep the place livable.Agreed. When I see something that is unacceptable, I let them know. If it doesn't change then I will kick them out (or raise rent, etc. to compensate). Thankfully most people are decent and understand that they need to pick up their dog shit if they are going to have animals.
>>930138507You’re trying to balance being a reasonable landlord and enforcing rules, but you’re still too soft. Dog crap in the yard isn’t a "conversation"; it’s a lease violation. If you don’t lay down the law, you’re just enabling bad tenants. Fuck these faggots, get harder on them, brother
>>930138415>and misplaced martyrdomHilarious and probably true.Damn my christian values upbringing
>>930138547kek quit trying to be Captain Saveahoe out here, man
>>930138542In my view it's called being reasonable and having compassion for your fellow man. Some retards out there have never been taught that they need to pick up their trash or dog shit (i.e. poor family life, etc.).I used to teach at the University level and feel I deal with my tenants the same way I used to deal with my students.Don't jump to kicking people out on the first offense, talk to them, reason with them, come to terms, and if they fail they know why they failed and have no one to blame but themselves.
>>930137545
>>930139076KekAlso, I'm going to need an extra $50/month as a pet fee.
what's the worst shit a tenant has done to the property
>>930139145Older guy moved in his fat worthless daughter, who then moved in her mentally-retarded (at least partly) boyfriend. A second Daughter and her two kids also moved in all in a 2 bedroom 1 bath house.After talking with him the second daughter and kids left, first daughter (and boyfriend) stayed to help take care of him.House got completely destroyed by the time they moved out. Someone was shitting in those portable bedpan things and leaving them around the house.... It at least gave us a good opportunity to refurb the house/floors.Boyfriend
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>>930139559
>>930139711
Whats the most helpful info you got for someone wanting to get in on this
>>930137489sounds like u fucking failed then
>>930141050Patience helps. As with all things, a willingness to learn can help a lot.
u ever had sex with a tenant for rent
>>930141074>sounds like u fucking failed thenTrying to build up better for my family and surrounding community?I give business to the local Amish lumber mills.I could invest this money into the stock market instead? It's my old age/livelihood I am investing into.
>>930137489You're doing good, sounds like. I'm trying to get to your position, my wife is against it. Says I'm "obsessed with getting rich" She's a retarded cunt. Wish I didn't have a kid with her.
>>930137489Ever had anyone pay for their rent in sex?
>>930138852bingo. it is possible to make money with a rental while also not fucking over your tenant. i rent a spot to a buddy of mine and it's a win win.
>>930142413>Wish I didn't have a kid with her.You are investing in building a legacy for you (and your kids). Teaching them valuable life skills along the way.
>>930142496No, why would I even want this?
>>930143661Being a landlord is as simple as sharing rent with someone while you are going to school...
>>930144193'Cause it's sex!
>>930144466Beyond the legal ramifications anon, I do love my wife.
>>930144669I mean, she can participate too!
>>930137489So, your entire income is from profiting off your (admittedly moderate) wealth by leeching money from those unable to afford to buy outright. So, question for you. Do you understand what the word "Parasite" means?
>>930144973Would you rather these tenants were just homeless? Maybe they could get some gov bucks to buy the house themselves and then it will fall down or burn due to disrepair. Commies are so fucking retarded, you're only good for heat.
>>930144973>>So, your entire income is from profiting off your (admittedly moderate) wealth by leeching money from those unable to afford to buy outright.Negative, renting is not my entire income. Honestly between my wife and I combined, rental income probably accounts for <10% of our yearly income.I work two jobs (one full, one part time) and wife works full time herself. Should I invest my savings in the stock market instead? Or using it to build up my local community.>>So, question for you. Do you understand what the word "Parasite" means?Yes, do you?
>>930137489How badly do you fuck your tenants? Properties paid off or bank
>>930144193>basic pacing and leading manipulation with no actual argumentative weightYou should be ashamed.
>>930145632>I only exploit people some of the time so it's morally jusitifed. You are a faggot and you made this thread because you knew it would draw in this kind of bate. Kill yourself landlord fag.
>>930148251>I don't liek factual information and analogy so actually you're just MEANNNN
>>930137987Mammon
You know I'm trying to help the impressionable and morbidly curious, nothing personal :p
>>930148351Grow up.
