Show of HandsShow of Hands

political November 18th, 2019 8:35pm

Do you own one or more rental properties?

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4boot LaTrineodeur, MN
11/18/19 9:22 pm

Owned one, sold it.

Liberty 4,032,064
11/18/19 7:24 pm

Yep. I highly recommend it.

political Georgia
11/18/19 10:01 pm

Do you have trouble with maintenance and repairs?

Liberty 4,032,064
11/19/19 11:32 am

Maintenance and repairs are part of owning and using anything. It’s not trouble, it’s just part of the responsibility of ownership.

political Georgia
11/19/19 11:43 am

Do you go through a property manager or do you do all the managing yourself?

Liberty 4,032,064
11/19/19 11:54 am

I do it myself. It’s something I care about and am good at so there’s no need to pay someone else to be a middle man.

ncbuc Get Over It
11/18/19 6:22 pm

Currently looking. Although it’s not the best time.

shygal47 Florida east coast
11/18/19 4:21 pm

Not anymore. What a headache.

bnnt Los Angeles
11/18/19 4:00 pm

2 rentals in Pasadena.

Have been a landlord since 2002.

11/18/19 3:58 pm

We’ve considered it, but ultimately decided it wasn’t worth the headache.

ovcourse California
11/18/19 4:08 pm

It was a big headache for us, so we sold.

Laserbeam Crazy bird lady
11/18/19 5:00 pm

You could hire a leasing company to do all the grunt work for you while you just laugh and count your cash.

ovcourse California
11/18/19 5:07 pm

We did have a property manager, and we still had plenty of headaches. In the end, it was worth it. We bought at the start of the housing bubble, and we sold just months before it crashed. Cha-Ching!

political Georgia
11/18/19 10:02 pm

I wonder how much leasing companies charge to do the grunt work.

11/18/19 10:10 pm

The ones I looked at took 10-20% depending on what services you sign up for.
That was bad, but they claimed we could make more using them because they would decrease downtime and turnover.
The other downside was that they locked you into service contracts with their own guys, which meant they were setting the rates and determining what needed to be fixed and how. And they would have required me to keep money in an escrow account for them to draw from whenever they determined repairs had to be done.
I know most management companies aren’t scams, but we weren’t comfortable handing them that much control, and we weren’t interested in dealing with the day to day headaches of tenants.

political Georgia
11/18/19 10:13 pm

I don’t blame you. I wouldn’t like that either. Similarly, I don’t see how people can stomach turning their investments over to a financial advisor that does all the decision making.

11/18/19 10:18 pm

Do most people do that? Ours doesn’t make decisions for us at all. He just “advises.”

And he handles all the paperwork, makes sure we’re straight with the government, and helps us stay off their radar.

political Georgia
11/18/19 10:35 pm

More than I thought! My Aunt, who passed away, used a financial guy that made the calls, especially for mutual funds. He charged 1.3%, which I think is high for that service.

I would be willing to have someone give me advice, but I want to be the one making the call.

Laserbeam Crazy bird lady
11/18/19 3:53 pm

I’ve been considering being an Airbnb host to make a little money when I’m out of town for work, but haven’t actually made it official as of yet.

screename1 Alaska
11/18/19 3:42 pm

Well...unless you count the room in our home we are renting to my sister and brother in law. 80 days to go, not that we are counting...

shygal47 Florida east coast
11/18/19 4:23 pm

Of course not ... 😶

Attikai Oregon
11/18/19 3:37 pm

Two California rentals. One is a house and the other is a studio.

political Georgia
11/18/19 3:16 pm

I don’t see how running for office would affect your answer.