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fastfredracing fastfredracing is offline
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Join Date: Jul 2003
Location: Valencia Pa.
Posts: 8,863
Im putting my big boy pants back on and diving back into the rental house biz.

Are any of you guys , really making a living at this ? We have 5 units. Big 4-5 bedroom houses in the city. All are in decent shape. All paid off, with new roofs, and furnaces, hot water tanks, new service lines, and panels. No more real gotcha's. ( fingers crossed )
Still, even with rents up , taxes, insurance, maintenance, bad pays, and vacancies make this tough to really make enough money to be worth it.
5 years ago, I wanted to sell, and my partner did not.
I walked away for a few years, and would only help out when we were in emergency status. I still managed to put tenants into empty units , and keeps rents flowing, while my partner handled the maintenance , and upkeep .
I figured, that we have vested so much $ , and effort at this point. I am going to give it one more big push, and attempt to make it profitable . "We have brought my wife on board to handle all the admin, and we will once again handle the units themselves .
Got any last minute tips from the seasoned pro's? I've been at this off and on for 15 years now, and have yet to unlock the code.
In a perfect world, I would have dumped all these places in the city, and purchased 2 fixxer uppers in nicer areas, or even commercial spots, but my partner was a no starter on that .
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Old 01-11-2019, 07:58 AM
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