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Truthfully it's simply made me revamp some of my leases a bit. From some of the tenant issues on here it made sense.
I have no problem being a LL. Probably will keep in doing it. I just learned to screen the hell out of people and saying no thank you up front is far easier than trying to dig out a bad tenant.
I don't have issues with my tenants. They respect my properties and they respect me so I return the gesture. Repairs and maintenance are just part of the deal. My rents are below going rate and I still make a good profit.
nyc is far to tenant friendly for my taste and through the years we sold to wind down our real estate holdings . we want no part of being a land lord in retirement if we can get it that way .
unfortunately we still have two tenants left we are stuck with as they are stabilized and become part of your family . but we sold everything else off .
we want only passive liquid investments going forward .
^^^ The last 15 years or so I have been exchanging into commercial and institutional property and the difference is night and day...
Triple NNN leases and none of the new laws/regulations that apply to residential rentals.
Long Term Commercial have proved very lucrative with almost no day to day management.
But, none of that would have been possible without starting out with my first real estate purchase at age 22 and keeping it as a rental when I moved to my next project property.
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