anyone here rent out houses? I need advice

[07JKX]

Where else are you supposed to put your unwanted feces?

my question is where do you put your wanted feces?

 

[z3]

Its not for the faint of hear thats for sure... If you think this is a get rich quick scheme or easy money your in the wrong field. be prepared to unclog nasty ass sinks full of hair and fingernail clippings, snake toilets and fix **** that you never thought could be broke.

I owned 8 in 2007 when the market crashed and I have been selling them off as time and funds permit and now I am left with two. I don't reccomend it unless you are very handy and have a high tolerance for BS

 

[jamesthemechanic]

dont do it

 

[GeauxLSU]

I rented a house I owned and am 50% owner in another I still rent.
Nothing is better/easier than being a landlord WHEN YOU HAVE GOOD TENANTS. Nothing is WORSE than being a landlord WHEN YOU HAVE SCUM BAG TENANTS!

Some people make a living (if you will) by moving into a house and not paying beyond the first month knowing it will take months to get them out. I had one, I was merciless on followup pushing it through the courts to get them out. Got them out on the first possible day I could (which as memory serves was about 60 days after I had notice served which was ONE DAY after their 5 day 'grace period' (which incurred penalties) for being late on their second payment. The house was an absolute mess (they had had their water turned off weeks before they finally moved out, no reason to stop using the toilets of course... ) but could have been a lot worse. I had first, last AND security deposit. Financially I actually wound up 'even' but it was a huge headache. This was 8-10 years ago. Much easier now to check their credit history and any dispossesory actions.

So in my experience, it's a coin flip. I have no desire to jump back in the game beyond my current deal (which is working out great) but yes, some folks that have the stomach for it, will do well buying in this depressed market and renting now, for future appreciation. I'd probably spend my $30k on a patch of dirt to hunt/shoot instead.

 

[david068513]

Anyone renting in gainesville pm me. I'm looking to move.

 

[07JKX]

I'd probably spend my $30k on a patch of dirt to hunt/shoot instead.

that what I am looking into at the moment. Buy some sizable acreage with some good hardwoods and contract to the timber companies. Just takes work to cycle out, replant, maintain, etc.

Doubles as a shooting/hunting property

 

[zesty]

this reminds me of one of the ones in my neighborhood. Tenants were behind about 3 months and then just left. We go in the house... burns in carpet (not like cigarettes... like campfire), roaches scattered everywhere upon opening the doors, soiled diapers, feces on the floors, walls, ceiling. Holes everywhere, broken window/mirrors, and a God aweful "ethnic" smell.

I was about 10yrs old cleaning out a rental house of my Dad's after a tenant left. It was mostly trash and junk left behind but I am scarred by one thing... found a giant dildo. It was an old lady that was renting the house. Obviously, I didn't touch it but did manage to get it disposed of before my Mom saw it. I was sure the sight of it would damage my mother's pure soul. If you have your kids help with the rental house, check it out before you send them in.

My Dad has had a lot of rental houses but he's a carpenter. He does all the work himself. I think he's made more money off of getting houses cheap and fixing them up to sell later than the actual rent in between.

 

[07JKX]

I was about 10yrs old cleaning out a rental house of my Dad's after a tenant left. It was mostly trash and junk left behind but I am scarred by one thing... found a giant dildo. It was an old lady that was renting the house. Obviously, I didn't touch it but did manage to get it disposed of before my Mom saw it. I was sure the sight of it would damage my mother's pure soul. If you have your kids help with the rental house, check it out before you send them in.

My Dad has had a lot of rental houses but he's a carpenter. He does all the work himself. I think he's made more money off of getting houses cheap and fixing them up to sell later than the actual rent in between.

definitely much more manageable when you can do the bulk of the work yourself. Like cars... most costs associated with home repairs/remodeling is in the labor

 

[Tazz]

I had a rental home once. Tenants paid for the first 6 months, then stopped. Took me 3 months to get them out. And after I did, it cost me 10K to fix the damages. Sold the house for a loss to get out from under that headache.

My advice, don't do it unless you have the stomach for dealing with deadbeats, and don't have an emotional attachment to the property as it's gonna get torn up. Also, don't do it if receiving the rent money is a must in order for you to cover your own bills every month, otherwise when you do get the non payer, you're struggling to pay your own bills.

I swear I'll burn one to the ground before I rent it out. Rented a house out once..and hell will freeze over before I have another rent house.

These are exactly the experiences I had and the feelings I have about rental property. I will NEVER do that again!!!

 

[ArmedinAtlanta]

my question is where do you put your wanted feces?

They stay pretty fresh in the crisper.