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Gene363
Herf-A-Holic Topic Starter

9 years ago

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

Edited by user 9 years ago | Reason: Not specified

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Burner02
Herf-A-Holic

9 years ago

Congrats!

frankj1
Herf-A-Holic

9 years ago

nice for you guys...congrats.

Hank_The_Tank
Herf-A-Holic

9 years ago

Congrats, that's great!

delta1
Herf-A-Holic

9 years ago

What a relief! No more ball and chain. Congrats Gene!

Burner02
Herf-A-Holic

9 years ago

Did not know the MIL was an issue.

mikey1597
Herf-A-Holic

9 years ago

You rent hoses?

frankj1
Herf-A-Holic

9 years ago

You rent hoses?

mikey1597 wrote:

don't tell Pedro

RMAN4443
Herf-A-Holic

9 years ago

don't tell Pedro

frankj1 wrote:

HoseA and HoseB:-k

danmdevries
Herf-A-Holic

9 years ago

#10

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
Herf-A-Holic

9 years ago

#11

HoseA and HoseB:-k

RMAN4443 wrote:

You are a complete moron.

wheel,,,,,,

Gene363
Herf-A-Holic Topic Starter

9 years ago

#12

You rent hoses?

mikey1597 wrote:

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

Damm spell check and my chitty editorial skills.

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Gene363
Herf-A-Holic Topic Starter

9 years ago

#13

danmdevries wrote:

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.

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DrafterX
Herf-A-Holic

9 years ago

#14

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.. 😟

Gene363
Herf-A-Holic Topic Starter

9 years ago

#15

DrafterX wrote:

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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