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Registered
Join Date: Jul 2003
Location: Valencia Pa.
Posts: 8,863
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Im no longer a landlord !!
You guys probably got sick of my constant belly aching about all the problems we had .
We closed on our last property today . Took me just a tick over 2 years to evict all the deadbeats, and give proper notice to our one remaining good tenant , clean the places out, quick and dirty rehabs, and list and sell .
We never really made good money, however, for a 2 year period, before covid, my partner moved out of state, and left the ball in mine and my wife's hands .
We evicted all the dead weight, rehabbed 3 houses, by our selves, with an infant in tow, and had all of the houses rented.
We were doing really good, and money was piling up in our accounts, then covid hit . All but one of our tenants, basically told us eat it .
I had to really bargain with myself not to do illegal stuff .
Last night, I emptied all my travel tool boxes and seemingly endless totes of supplies . Tossed it all, and started neatly organizing my tools in my home garage, never to travel again, hopefully .
I really enjoyed purchasing and rehabbing the houses . When we started, I had no idea what I was doing, but gave it my all. By myself, I replaced all the stolen plumbing in in our first 3 houses . I re plumbed and replaced 2 boiler systems by myself, with zero training . Auto mechanics, are like Honey Badgers ..
I used to love getting up early Saturday morning, loading my Dually full of stuff , and heading into the hood to work till I dropped .
I grew to hate landlording . We mostly did all of the repairs ourselves, for a long , long time, as we had no capital . Dealing with the section 8 tenants in the beginning really wore on us . We slowly made the places nicer, and got better tenants, but , still, location, location, location. We were never really in the right place to get great tenants, although we did have a few .
Near the end, we were hiring plumbers, and Hvac guys, but , general repairs still mostly fell on us . I will not miss those phone calls on the weekend from angry tenants with plumbing leaks, electrical problems, racoons in the walls and all the other nonsense . I bet I did no less than 12 evictions . I had to fill bullet holes in an entry way door, and got into a few heated arguments with some bad dudes . I'm probably lucky I don't have a few holes in me .
The one thing that is really eating at me, is that my wife is not here to share the windfall with me. We both sacrificed so much of our time together, and family time to make all this happen, and we were planning on the things we would have done together with our spare time , and money .
Oh, and I sold my 930 too. Loosening my load, heading into the next chapter of my life
I still have one house left , that I own by myself. I had this one before I got involved with my partner . My parents live there now. When they pass, I think I'll just Walter white it and make meth in the basement , in lieu of renting again . In all seriousness, That is probably when I will sell, and partially retire .
Thanks for listening, just thought Id share with my online buds !
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No left turn un stoned
Last edited by fastfredracing; 09-09-2024 at 04:07 PM..
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