Rokslide Real Estate Investing Thread

[RS3579]

We have 1 single family rental now. 1st tenant lasted 4 months and split. He Never got utilities changed to his name, when the utilities got turned off he left. Lost a refrigerator in that deal. New tenant moved in recently. When this tenant moves I’m selling. It’s not for me. My opinion is that real estate is for self employed people. It’s a was to hide $. Im a W2 employee.

 

[peterk123]

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We have 1 single family rental now. 1st tenant lasted 4 months and split. He Never got utilities changed to his name, when the utilities got turned off he left. Lost a refrigerator in that deal. New tenant moved in recently. When this tenant moves I’m selling. It’s not for me. My opinion is that real estate is for self employed people. It’s a was to hide $. Im a W2 employee.

I found that 24 units is kind of the magic number. At that point it becomes financially feasible to hire someone to deal with the day to day issues.

 

[arrow179]

We have 1 single family rental now. 1st tenant lasted 4 months and split. He Never got utilities changed to his name, when the utilities got turned off he left. Lost a refrigerator in that deal. New tenant moved in recently. When this tenant moves I’m selling. It’s not for me. My opinion is that real estate is for self employed people. It’s a was to hide $. Im a W2 employee.

Finding quality tenants is the key to success in single family rentals. You need to spend a lot of time vetting potential renters. I would recommend you keep utilities in your name and allow the tenant up to a certain $ amount per month as part of the rent and then they need to agree to pay any overage.