Anyone have rental properties?

[huskerfan66]

If so, what are your good and bad thoughts? I would love to know, I have always wanted to get in the game (ironically what I also told all my HS coaches)

I've been burned. First tenant was GREAT. All downhill from there. Wouldn't pay rent or utilities. County attorney was no help. Turns out low life's have more rights than me. No thanks. Never again

 

[Chuck003]

i owned renntals for many years. No way in hell I would do it agian. You are ony as good as the renters. And most of them trash the place and do not give a shit....And flipping in Lincoln? No way in hell. Hope that helps..

 

[SuperBigFan]

Man, lots of horror stories! Kind of sucks.

 

[TampaBaySkers]

Man, lots of horror stories! Kind of sucks.

Much better to stick your money in a high yield savings or t-bills( yes, I know - boring). I’m currently getting 5.15% through Goldman Sachs.

 

[TampaBaySkers]

Why do guy say that?

Genuine question.

I’m speaking more to FL. Insurance has tripled in cost for a lot of people. Rent is declining as well. Not a good formula for people that subscribe to the BRRR methodology.

 

[CNUB#1]

I own several. I've had very good luck up until this year. Rent is going up at a time when buying a house isn't affordable. Pretty decent demand for rentals in the Lincoln area.

 

[SuperBigFan]

I own several. I've had very good luck up until this year. Rent is going up at a time when buying a house isn't affordable. Pretty decent demand for rentals in the Lincoln area.

How did you get started?

 

[RedJensen]

Shoot I’m looking for a rental right now . Anybody know anybody in DFW area?

 

[bit tatanka]

Right. I'm pretty sure if you're wanting to beat the S&P 500 with a single home rental, you're going to have to buy that property with no warts or very light catch up maintenance and buy it at a 70% discount. Trying to beat doubling your invested money in 10 years with a single home rental is hard to pull off. Property tax, income tax, damage, regular maintenance, tenants that don't pay the full contract ect. ect. ect.

Apartment complexes 25 units and above, I've heard, are the way to go.

Ultimately though the best rents are storage facilities. It only requires a 60% occupancy rate to break even on annual expenditures.

This. Storage units are huge money and are pretty basic as far as rules if you would have to auction a unit.