Lower salary anxiety

[GregW]

I would like to retire to central New Mexico. When I run the numbers the lower NM COL just about matches the drop in income. Now to convince my wife it is a good idea.

[berncohomes]

Originally Posted by RandomName958

i would look into a property management company. it's probably worth the 10% to let them worry about collecting rent and maintaining the property.

I second that excellent idea.

[Foxygirl12]

I agree that having someone else deal with the tenants and the maintenance issues is the way to go. It just so happens that my next door neighbors are going to help me with this. The wife is a real estate agent and is going to help me with the listing, lease and other paperwork. Her husband works as a handyman and has connections with plumbers, electricians, etc. He is going to take care of the maintenance aspect.

[thelazyone]

Originally Posted by Foxygirl12

I agree that having someone else deal with the tenants and the maintenance issues is the way to go. It just so happens that my next door neighbors are going to help me with this. The wife is a real estate agent and is going to help me with the listing, lease and other paperwork. Her husband works as a handyman and has connections with plumbers, electricians, etc. He is going to take care of the maintenance aspect.

I'm not sure if this was already asked, but are you looking to sell it in the meantime? I have a 3 family house and either which way, me and my wife are getting out of the landlord business. Too much of a hassle having tenants to worry about all the time.

[Foxygirl12]

Oh, I'll probably sell eventually, but I'd like to defer that decision at least a year. I'm pretty sure things are going to work out fine in New Mexico, but in the off chance that it doesn't, it would be nice to have someplace to back to.