Do you own one or more rental properties?
Owned one, sold it.
my boyfriend wants to be
Yep. I highly recommend it.
Do you have trouble with maintenance and repairs?
Maintenance and repairs are part of owning and using anything. It’s not trouble, it’s just part of the responsibility of ownership.
Do you go through a property manager or do you do all the managing yourself?
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.
Currently looking. Although it’s not the best time.
Not anymore. What a headache.
2 rentals in Pasadena.
Have been a landlord since 2002.
We’ve considered it, but ultimately decided it wasn’t worth the headache.
It was a big headache for us, so we sold.
You could hire a leasing company to do all the grunt work for you while you just laugh and count your cash.
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!
I wonder how much leasing companies charge to do the grunt work.
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.
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.
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.
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.
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.
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...
Of course not ... 😶
Two California rentals. One is a house and the other is a studio.
I would like to in the future.
I don’t see how running for office would affect your answer.
Sorry - wrong thread.