[look 171]

Originally Posted by Dantilla

Wow.
Where to even start?

Anybody who has acquired rental properties has done so as the result of hard work.
I've had rentals. I've gone to the bank, signed a personal guarantee that puts everything I own as collateral for a loan.
I've hired help. At one time, three maintenance guys, who always got their full paycheck, even when there was not a single dime for me at the end of the month.

How did I get started? Framing houses was my full-time job, and my only source of income.
Bought some fixer-upper rentals. Now I owe a bunch of money, and spend every evening, and weekends trying to upgrade the property, make it attractive to potential residents.

Every dime of rent that came in was used for upgrades. Hours upon hours of work I did, for no income, but only the dream of one day turning a profit.

Owning rental properties is a full-time job.
Anybody who thinks all the landlord does is sit back and wait for rent checks to arrive is clueless.

I have worked my tail off.
I have provided reasonably priced housing.
I have provided jobs.
I have risked everything to do so.

The idea that a government agency can step in, tear up the rental agreement and announce that the residents don't have to cover the cost of their housing is abhorrent.

Remember that personal guaranty I signed? Now what?

Risk. Don't forget the huge risk we take to acquire them. If it goes south, some of us will be out in the streets and lose everything and may never recover.