My turn to vent...

Callahan

Callahan

Stunt Driver
I'm sick of being a landlord. I never wanted to be one to begin with. I finally called my property manager there wondering where the damn rent check was. Then, I find out the renters have apparently broken the lease (they were done June 1, anyway) and the PM is trying to schedule a move out inspection.
This place cost me several hundred a month, even when it's rented. I'm tired of screwing with it. Then, we still have the Chief's house in Florida which is just a big cash drain.

I've about decided to sell the Hiram house next summer and take the hit. I figure on a possible loss of 15K, if we are lucky. I'd sell it today, if I could. I think I've reached the point where I just want to unload it and get it out of my life. Nice guys finish last, that's the truth. They get stuck with the bills, too.
 
My Parents had the same issues when they rented houses. :( Good luck in selling it. Why don't you just move back? We would love to see you guys back here.
 
I'm so sorry! I can imagine what that's like, knowing you're going to lose money either way.

Nice guys may finish last on paper, but when it all comes down, you'll be on top. Promise.
 
A few years ago I thought about buying another house and renting ours. Even as late as this year we considered it....but then I realized I would end up in the same type of boat and decided against it. I know it works out well for some people, but most everything I touch turns to dog squeeze :whistle
 
My last renters got a divorce and she came back with her crack head boyfriend and stole the copper pipes out from under the house. You couldn't give me another rental house.
 
OK, you guys are worrying me. I want to buy a rental house while they are almost giving them away, but I don't want that kind of hassle either.
 
Rental properties can be very profitable when done right. But there is a LOT to be concerned with before jumping into the frey. I know a lot of people who make a good living off nothing but rental properties. Just have to remember that it's a business!
 
{knocking on wood}

Neither Mrs. Mac nor I wanted to be landlords either. I can feel your pain, and hope you can get out of this without losing too much $$$$.

We both have tenants in our old houses. So far, so good. The property management company we use is extremely picky - they told us up front they turn away more than 60% of the people that apply. Both houses are pretty much paying for themselves.

Having said all that, if there was an offer on the table for mine that allowed me to break even - I'd sell in a heart beat. When I was trying to sell it, I would have been luck to leave a check on the table for about $10K. Mrs. Mac old house is in a little better shape - but after being on the market for two years straight we had 0, zero, nada offers.
 
You must log in or register to reply here.
Back
Top