Long distance landlord (apartment, tenant, rental property, house)

[NJBOSCH]

I listen to Jason Hartman's podcast and he is always pushing investment real estate in different markets across the country. Buying rental property in Texas when you live in
NJ seems like a foolish thing to do. Anyone actually do this with positive results? It seems like it could be a nightmare.

[mathjak107]

having done it i wouldnt do it again ever.

[equinox1]

I did it and don't recommend it unless you can find a very reliable agent or know the people you are renting to.

My experience...I had a house in AK and didn't want to spend the winters there any longer, but wanted to return for summer. I changed it to a duplex and tried renting half. It was a disaster. Pipes froze and they told me I needed a cirulating pump for 1600 even though we'd never needed it when we lived there. I decided to sell but had trouble getting tenant out.... I almost owed the agency money by the time I returned about 5 mos later.

We'd been landlords for a number of years, but our rental agent had moved and the new one for this property was bad.

[accufitgolf]

My belief was unless I personally could be there to see and/or deal with it, I wanted nothing to do with it. Of course some might say this prevented from becoming a real estate mogul.........LOL

[tworent]

Single houses I would never do it but I am part onwer of a apartment building but a 150 units is much different the 2 or 3 houses.

[NY Annie]

We bought our house 2 years ago in TN while waiting to retire. We have a reliable PMC and the tenant pays insurance, mortgage, taxes, pmc fees, and a tiny bit extra to cover minor repairs. We love it and would do it again.