Anybody own a house?

Quote from brownsfan019:



I would not dream of ever becoming a landlord with tenants... too much hassle in my opinion.


you gotta be a bad ass tough guy to be a landlord.

i tried it once, with section 8 tenants, terrible experience--will NEVER try it again.

surf
 
They need to understand that rent is their first priority. Yes, even before cigarettes and booze.


Quote from marketsurfer:

you gotta be a bad ass tough guy to be a landlord.

i tried it once, with section 8 tenants, terrible experience--will NEVER try it again.

surf
 
Quote from jmccain:

They need to understand that rent is their first priority. Yes, even before cigarettes and booze.


:D

i had this one tenant, who paid 20% of the rent and the govt paid 80%. however, if anything was wrong with the place there was verbage in the contract that they did not have to pay untill it was fixed. every month around rent time, i would get a call about a broken window or something, so they wouldn't have to pay. the worst part is, I was too nice to get agressive with them, fell for the sob stories.... bad asses do well in the landlord business, nice guys finish last. LOL!
 
Quote from brownsfan019:



I would not dream of ever becoming a landlord with tenants... too much hassle in my opinion.

If one can make it in this business, trading's got to be one of the easiest businesses for the fact that:

1. You never need to advertise
2. Office space is not required
3. No early morning / late night phone calls
4. Don't have to work over time
5. Low maintenance
6. No employees
7. No unhappy customers
8. Cant be sued :P
9. Vacation can be as long as you want
10. No Salary cap.

CM69
 
Quote from marketsurfer:

:D

i had this one tenant, who paid 20% of the rent and the govt paid 80%. however, if anything was wrong with the place there was verbage in the contract that they did not have to pay untill it was fixed. every month around rent time, i would get a call about a broken window or something, so they wouldn't have to pay. the worst part is, I was too nice to get agressive with them, fell for the sob stories.... bad asses do well in the landlord business, nice guys finish last. LOL!

I own quite a few small rental properties, and have for years. I don't know about being a "bad ass", but I definitely think you have to be business like.

I have personally never rented to Section 8 tenants. I figured these were the least responsible people in the tenant pool, and when I drove around looking at Section 8 properties, I saw properties in a condition that I didn't want my properties to be in. The one plus to Section 8 is that your money is guaranteed by the government.

But what I mean by business like is that I screen my tenants hard so that I know what I'm getting into. You can check to see if a tenant has evictions in his background, pull credit report, check criminal history, check work history, check with prior landlords.

The goal here is to get people who have a history of paying and acting responsibly. I think this helps to get your money on a timely basis without having to be a bad ass.

When the day arrives when you have a non-payer...I am very business like in the sense that I start the eviction process as prescribed in my state. Doesn't require a bad ass, just a business man protecting his interests.

By the way, in my state, according to the landlord tenant law, tenants cannot simply withhold rent because of repairs. There's a process. Of course, the other side of landlording is to keep the property in good repair. I think this is businesslike as well. If you're going to have a long term investment it needs to be in good condition. So I'm prepared to respond quickly with qualified repairmen when a repair needs to be made. Likewise, I respond quickly when the tenant doesn't pay.

In short, it's all about management. Probably not for everyone. But rental properties have been a good investment for me. Not one with no problems at all, but one that was really pretty easy and straightforward while I traded. They've provided a stable source of income as a base for my trading. I don't trade for a "living" any more. I trade to build my assets. Big difference.

OldTrader
 
Quote from OldTrader:

I own quite a few small rental properties, and have for years. I don't know about being a "bad ass", but I definitely think you have to be business like.......




OldTrader

no issues there, oldtrader. unfortunately, i chose the "slum lord" route ( after watching a friend make a fortune) which was a mistake. good tenants and good properties are the key. my post should read --to be a slumlord one must be a bada**.

surf
 
I own my home.

I already paid off my mortgage.

I never wrote a book.

I live well within my means.

Every 2 years, you can sell your main residence TAX FREE up to $250,000 or half a million if you are married. That is why rich people own multiple homes. These loopholes are just free money in the bank.
 
Paid off my first house about 5 years ago. Built a new one on a nice piece of land and moved in about a year ago. Still have a couple bucks laying around to continue trading with too!:)
 
dkw

Registered: Mar 2002
Posts: 17

starting your own business

You should try it first before judging. I'm not unhappy.
####################################

It is specific indoktrination ,no more

Based on your socialiastion (example -in child time you are dreamed to have a business.
But it is no any evidence ,that persons with this indoctrination
more happy as another.

Occassionaly some persons understand limitation
of this kind of doctrin .Dependence from Banks, Goverment &
Not best quality female(B.Gates have not best female and W.Buffet alsov not) ,house , service's ,eating (some of your friends have better) .Not best health .Not best respect from
society (president ,senator ,CIA chief are more respected ) &

Alsov as President of USA person is strong depend
from influence group of interess,opposition ,have not best children and ist not historicaly person (what he dreamed ) as
Thengiz-Khan ,Tamerlan,Napoleon .

They was alsov richer ,as each follover of plagiat of A.Smit,Lock ,B.Franklin &

Most business man's will not understand that and will life
in opiaten drug of different instrumental ideja .

Limited intelectual capability, and related limited composition of emotion .
Limitation of pleasure from life as exampe.

######################

For me, I can work with the capitalists during the day, and then party at night in Hollywood.
-------

They all are operated .not 100% natural female's in Holywood
Best adress in USA www.perfect10.com
They are natural(time from tme personality as Miss.U.K . present .Editor -Ex Professor of Stanford
Dr.Zade,Son of founder fuzzy logic .
 
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