Rental Property Owners

[BuckBackHome]

Are there any rental property owners hanging around here? I am curious what your experiences have been.

I am toying with picking up a duplex or quad, but do not really have the time to care for one. I would love to grab some extra income and build some more wealth, but the thoughts of the midnight repair calls, evictions and vacancies make me a bit nervous.

 

[gregorylee]

I don't, but my parents do. I think alot of that has to do with where your property is located. They had two properties, one one the hilltop, and one in Richwood. They bailed on the hilltop house after a couple of years because the people who would rent it were just fucking the place up. They still have to one in Richwood though, they have been lucky with renters there and my Dad hasn't had too many late night calls that I am aware of (they have been renting it for about 10 years).

 

[gbearbuck]

If it is in a good part of town and the monthly rent is high, you will weed out the folks who are major problems... make sure you can afford to pay for the mortgage if it is not rented, many folks run into too much leverage and have problems when the units are vacant... try to find a handyman that charges resonable rates (as in a couple of $20's and a bottle of vodka )...

 

[Taosman]

Some thing all rental property owners must think about now is a world wide
bed bug infestation.
Travelers spread the bed bugs by putting their luggage carelessly on the beds or furniture.
Advise your customers/renters about spreading bed bugs.
Have your rentals treated and inspected for bed bugs.
It's cheaper than replacing all your mattresses at once!

By ANDREW JACOBS
Published: November 27, 2005
They're the scourge of hobo encampments and hot-sheet motels. To impressionable children everywhere, they're a snippet of nursery rhyme, an abstract foe lurking beneath the covers that emerges when mommy shuts the door at night.

But bedbugs on Park Avenue? Ask the horrified matron who recently found her duplex teeming with the blood-sucking beasts. Or the tenants of a co-op on Riverside Drive who spent $200,000 earlier this month to purge their building of the pesky little thugs. The Helmsley Park Lane was sued two years ago by a welt-covered guest who blamed the hotel for harboring the critters. The suit was quietly settled last year.
NY Times Advertisement

 

[Bleed S & G]

Are there any rental property owners hanging around here? I am curious what your experiences have been.

I am toying with picking up a duplex or quad, but do not really have the time to care for one. I would love to grab some extra income and build some more wealth, but the thoughts of the midnight repair calls, evictions and vacancies make me a bit nervous.

It's all location as another poster mentioned. I would gravitate towards the "nicer" areas.. If you have yourself an agent who knows what you want, and does his job, you can easily generate some cash flow. [sales pitch]I'd be happy to PM you a list of multi-families for sale, fitting your criteria, and run the cap rate and include it for you in the PM[/sales pitch]