I used to be pretty happy with my rental houses as a whole...even though I would bitch about some of the people on here (Tasty). At some point I had ~20 houses and maybe 1 person would be hard to deal with (Tasty).

Now every ****ing person who moves out (section 8 or private) has left my houses destroyed. If I get a judgment it doesn't matter because they never have to pay it off unless they purchase a house, which apparently is never in their cards. to get the judgment means extra $ out of my pocket, lots of time to go to the DJ and in the end i get no where....

anyway...... in addition to that someone went into my vacant house and stole the freaking copper water lines from the basement....

now I have to file a police report, deal with my insurance and eventually get it fixed.... curses....

so... what I thought was my retirement plan (owning 20 houses outright) is now a game to see how quickly I can get out of this mess of assholes!!!!

 

you should get gun turrets on your houses

 

Go in with some people, form an LLC, and start shuffling collective 1031 savings on bigger properties (strip malls)


. . . 20 houses?!?!? You're out of your skull, IMHO.

 

Scot, now we know how you paid for your Trailblazer SS. You've been ripping off your own houses!

 

perhaps we should ask your mom.

 

Maybe instead of 20 cheap properties you should have 4 nice ones?

 

yup.
business and shopping centers>homes/rental units

I hate collecting more "excuses" than rent money. (Losers!)

 

I thought about that..... then a single vacancy seems like it would kill you....?

My boss has an 8 unit that is in a very nice part of a town (a different town than my ghetto) and he has had similar problems even with what you would think were decent people. dead beats, police involvment, etc.....

I just recently invested in a LLC that buys retail so hopefully i can invest more with them and get out of my mess.

 

I worked for a guy over the summer that owns lots of rental property. Stuff like this happened to him now and again. However, I do think it is a very good retirement plan. Hope things start to improve for you.

 

it is just amazing how little respect for other peoples stuff that some people have. I bend over backwards to help them and to thank me they ruin my new stove, carpet, etc......

I will be happy when these are all gone....