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Last post 6 years ago by Gene363. 15 replies replies.
Happy News for Gene
Gene363 Offline
#1 Posted:
Joined: 01-24-2003
Posts: 30,669
We closed the sale of our last rental house today! Oh happy day!

The new owner is quite happy with how we refurbished and we are out of the rental business. Win Win
Burner02 Offline
#2 Posted:
Joined: 12-21-2010
Posts: 12,861
Congrats!
frankj1 Offline
#3 Posted:
Joined: 02-08-2007
Posts: 44,211
nice for you guys...congrats.
Hank_The_Tank Offline
#4 Posted:
Joined: 11-15-2016
Posts: 3,677
Congrats, that's great!
delta1 Offline
#5 Posted:
Joined: 11-23-2011
Posts: 28,754
What a relief! No more ball and chain. Congrats Gene!
Burner02 Offline
#6 Posted:
Joined: 12-21-2010
Posts: 12,861
Did not know the MIL was an issue.
mikey1597 Offline
#7 Posted:
Joined: 05-18-2007
Posts: 14,162
You rent hoses?
frankj1 Offline
#8 Posted:
Joined: 02-08-2007
Posts: 44,211
mikey1597 wrote:
You rent hoses?

don't tell Pedro
RMAN4443 Offline
#9 Posted:
Joined: 09-29-2016
Posts: 7,683
frankj1 wrote:
don't tell Pedro

HoseA and HoseBThink
danmdevries Offline
#10 Posted:
Joined: 02-11-2014
Posts: 17,124
Considered getting into rentals. My area is plagued with abandoned and foreclosed homes. I bought one that was abandoned 10 years, and that's where we live. For 200k I could get 3 more, with acreage, and rent for local rates around 1200/mo. 5 years then profit. But I've heard so many horror stories I just can't bring myself to do it. I hear more people who are happy to be free from renting than I do people who keep on.

Thunder.Gerbil Offline
#11 Posted:
Joined: 11-02-2006
Posts: 121,359
RMAN4443 wrote:
HoseA and HoseBThink


You are a complete moron.





wheel,,,,,,
Gene363 Offline
#12 Posted:
Joined: 01-24-2003
Posts: 30,669
mikey1597 wrote:
You rent hoses?


I'd consider renting my own, but I doubt I get any requests. Anxious

Damm spell check and my chitty editorial skills.
Gene363 Offline
#13 Posted:
Joined: 01-24-2003
Posts: 30,669
danmdevries wrote:
Considered getting into rentals. My area is plagued with abandoned and foreclosed homes. I bought one that was abandoned 10 years, and that's where we live. For 200k I could get 3 more, with acreage, and rent for local rates around 1200/mo. 5 years then profit. But I've heard so many horror stories I just can't bring myself to do it. I hear more people who are happy to be free from renting than I do people who keep on.



The rental business can suck the last trace of sympathy right out. I have have had some great renters, but the turds were really bad and cost me mucho $$$.

You need to be able to cover your costs when they are empty, including the times they are empty and you're pouring money in to get the thing ready to rent at the same time. Those no money down to buy a rental house schemes can turn into a disaster when the market changes. Then, when you want to sell them and have a life, Uncle Sam is all over you with a hand in your pocket. In short, I'm deliriously happy to be done with rentals.
DrafterX Offline
#14 Posted:
Joined: 10-18-2005
Posts: 98,508
I've got a vacant house for sale now.. I've rented it before but not going there this time.. had some idiot dare me to take a bad check to the DA once.. I called him 20 minutes minutes later and told it was done... he was pissed... but I got paid.. Mellow
Gene363 Offline
#15 Posted:
Joined: 01-24-2003
Posts: 30,669
DrafterX wrote:
I've got a vacant house for sale now.. I've rented it before but not going there this time.. had some idiot dare me to take a bad check to the DA once.. I called him 20 minutes minutes later and told it was done... he was pissed... but I got paid.. Mellow



Great! Some states are really good about hot checks, Texas was that way when we lived there. I recall being able to buy gas and pay in a restaurant with a check because for $15 fee, the local sheriff would be knocking on their door; it was pay up now or off to jail.

South Carolina, not so good. I've even gone as far as suing, winning and finding they have nothing in their name to get my money back. At least with a business bank account I could resubmit the check and let their bank fees pile up, but they just get another account.
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