Have CD and the renting threads encouraged or dissuaded you from LL? (apartment, tenants)
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Renting for many years has dissuaded me from wanting to be a LL more than CD. But CD does help me realize that it is a wise decision to not become a LL.
Well, if you read nothing but CD threads on relationships of any kind, you'd think *people* seem like a huge hassle. Doesn't matter if they are tenants, landlords, employers, employees, relatives, boyfriends, girlfriends.
But CD is where people come to discuss problems. So of course you only see problems.
There are far more rentals out there in the big wide world, than there are threads about rentals. So... maybe most of them are going OK
well, if you read nothing but cd threads on relationships of any kind, you'd think *people* seem like a huge hassle. Doesn't matter if they are tenants, landlords, employers, employees, relatives, boyfriends, girlfriends.
But cd is where people come to discuss problems. So of course you only see problems.
There are far more rentals out there in the big wide world, than there are threads about rentals. So... Maybe most of them are going ok
I did consider it for diversification of assets - and the property prices were so incredibly low in the Phoenix area after 2008. Ultimately, I decided not to. After reading so much on CD, I'm totally convinced I made the right choice.
Not from reading comments on CD, but I don't think I'd want to pursue being a LL. Just not what I'd be interested in doing.
My former FIL was a LL for many decades and all in all, the majority of his tenants gave him no trouble at all. He was one who kept rents at a doable level for his tenants and yet still made a profit.
I was considering it but honestly it seems like a huge hassle.
Your thoughts?
No, in fact I bought another property since joining. How much of a hassle are you willing to put up with for "X" amount of return? That's the question.
You put up with hassle at work, right? Being a landlord is a job. You are a business owner. It can be a fairly profitable business though but it's not for everyone.
It's the problems that are posted more often than not.
Seeking advice before jumping in can prevent many mistakes.
Many of my friends seem to be of the type that the happiest two days in their life is when they bought their rental and the day they sold it...
If being a Landlord was easy than everyone would be in the business.
Remember that City Data has a world audience... also that the rental business keeps evolving... especially in my area with Rent Control, Just Cause Eviction Statute, Mandatory Code Compliance Inspections etc...
I'm very appreciative of owners, managers and tenants that take the time to post and respond...
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