Quote:
Originally Posted by wdfifteen
Read this first.
http://forums.pelicanparts.com/off-topic-discussions/968931-joys-being-landlord-part927.html
As a landlord of commercial property I can tell you it is not all roses. We were called out at 1 AM January 1st because someone broke down the building's front door. The building is in a great neighborhood - right across from a church.
Last month our tenant noticed wet carpet in an office room adjacent to the HVAC room. Found a small leak in the AC evaporator tray that had been going on for who knows how many months. Had to replace drywall and carpet and treat wall studs for mold. RE is not a hands-off investment. Be prepared to be involved 24/7/365 if you really want to make money at it. Stuff happens at the most inconvenient times. |
I'm not talking about rentals - that's a different dynamic. I'm talking about buying a house in a good neighborhood, improving it, living in it, taking all the tax benefits and when market conditions favor, sell for profit and repeat the process. Working your way up the food chain in a methodical and realistic way.