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SVTPerformance's Chain of Restaurants
Road Side Pub
Who's in the rental house business?
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<blockquote data-quote="MG0h3" data-source="post: 16166839" data-attributes="member: 164690"><p>Been land lording since I was 22. I’ve used prop managers on some, not on others, and switched back and forth on the same property. You can always use a prop manager for the first year (this is standard contract but confirm with yours) then take over yourself once you have a feel for things. </p><p></p><p>Bigger pockets.com is a good resource. </p><p></p><p>As mentioned before the manager will take all your positive cash flow in most cases on your typical property/rent income scenario. Won’t on yours due to the low price. Either way I avoid them now unless absolutely necessary (out of state when a tenant leaves or something). </p><p></p><p>Anything can happen and a lease won’t stop a shithead from trying to **** you. First renter ever was a female apartment complex manager. She knows the drill...good to go right? Wrong. Showed up with a money tree check second month. Had a dipshit realtor put a legit criminal in a house a few years ago. He had filed bankruptcy a week before moving in. Realtor washed her hands of it 2 months later when he quit paying. I then hired a prop manager to evict him in court and I won all the lost money but he literally said in court “I’ll never pay”. Guy had done 9yrs for embezzlement lol. Guy is dead now and I’m glad. </p><p></p><p>Its a nice way to have passive income and I love the tax break; you won’t get much of one due to the low price. Buy more. I sold two last year and am looking to buy again. </p><p></p><p></p><p>Sent from my iPhone using svtperformance.com</p></blockquote><p></p>
[QUOTE="MG0h3, post: 16166839, member: 164690"] Been land lording since I was 22. I’ve used prop managers on some, not on others, and switched back and forth on the same property. You can always use a prop manager for the first year (this is standard contract but confirm with yours) then take over yourself once you have a feel for things. Bigger pockets.com is a good resource. As mentioned before the manager will take all your positive cash flow in most cases on your typical property/rent income scenario. Won’t on yours due to the low price. Either way I avoid them now unless absolutely necessary (out of state when a tenant leaves or something). Anything can happen and a lease won’t stop a shithead from trying to **** you. First renter ever was a female apartment complex manager. She knows the drill...good to go right? Wrong. Showed up with a money tree check second month. Had a dipshit realtor put a legit criminal in a house a few years ago. He had filed bankruptcy a week before moving in. Realtor washed her hands of it 2 months later when he quit paying. I then hired a prop manager to evict him in court and I won all the lost money but he literally said in court “I’ll never pay”. Guy had done 9yrs for embezzlement lol. Guy is dead now and I’m glad. Its a nice way to have passive income and I love the tax break; you won’t get much of one due to the low price. Buy more. I sold two last year and am looking to buy again. Sent from my iPhone using svtperformance.com [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Who's in the rental house business?
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