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Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

Those evil rich landlords

24

Comments

  • BasemanBaseman Posts: 9,859
    Swaye's Wigwam 10,000 Awesomes 5,000 Up Votes 5000 Comments

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Start in Residential, acquire, then flip to Commercial.

    Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.

    Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it.
    I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
    UW_Doog_Bot
  • YellowSnowYellowSnow Posts: 22,386
    Swaye's Wigwam 10,000 Up Votes 10,000 Awesomes 10000 Comments

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Minus rents(which are high risk) the market pays more per year in returns than property.
    All real estate is local. If you can buy and hold properties in markets that will appreciate you’ll get rich. But in so many markets, there’s no appreciation after inflation is accounted for.
    I don't worry about appreciation as long as the tenants are buying and maintaining the building for me.
    I hear ya. It’s just not for me. I’d rather just buy my primary residence in and invest other capital elsewhere. At least I’m not paying someone else’s mortgage so that’s a good thing.
    greenblood
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers
    Baseman said:

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Start in Residential, acquire, then flip to Commercial.

    Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.

    Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it.
    I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
    That was doable back then. I had buddies who retired in their early 40's during that time.

    I also had buddies who had negative net worth for a couple years, and other than their spoiled-rotten cunt wives divorcing them and taking their primary residences, bounced back better than ever within a couple years, realizing that they'd have been way better off if they'd dumped the non-working witch many years before.

    Which all goes to say that most women don't and never will understand where money comes from. They just want it.
    SwayecreepycougDoog_de_Jour
  • YellowSnowYellowSnow Posts: 22,386
    Swaye's Wigwam 10,000 Up Votes 10,000 Awesomes 10000 Comments

    Baseman said:

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Start in Residential, acquire, then flip to Commercial.

    Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.

    Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it.
    I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
    That was doable back then. I had buddies who retired in their early 40's during that time.

    I also had buddies who had negative net worth for a couple years, and other than their spoiled-rotten cunt wives divorcing them and taking their primary residences, bounced back better than ever within a couple years, realizing that they'd have been way better off if they'd dumped the non-working witch many years before.

    Which all goes to say that most women don't and never will understand where money comes from. They just want it.
    There’s more high earning chicks out there than you might think.
    SwayecreepycougAtomicDawgDoog_de_Jour
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers

    Baseman said:

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Start in Residential, acquire, then flip to Commercial.

    Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.

    Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it.
    I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
    That was doable back then. I had buddies who retired in their early 40's during that time.

    I also had buddies who had negative net worth for a couple years, and other than their spoiled-rotten cunt wives divorcing them and taking their primary residences, bounced back better than ever within a couple years, realizing that they'd have been way better off if they'd dumped the non-working witch many years before.

    Which all goes to say that most women don't and never will understand where money comes from. They just want it.
    There’s more high earning chicks out there than you might think.
    I'm talking about the prototypical stay at home mom in Issaquah or Sammamish.
  • UW_Doog_BotUW_Doog_Bot Posts: 8,645
    Swaye's Wigwam 10,000 Awesomes 5,000 Up Votes 5000 Comments
    Baseman said:

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Start in Residential, acquire, then flip to Commercial.

    Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.

    Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it.
    I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
    Should have invested in bitcoin.
    SwayegreenbloodcreepycougEsophagealFeces
  • SwayeSwaye Posts: 34,969
    Swaye's Wigwam Solar Eclipse Donator 10,000 Up Votes 10,000 Awesomes

    Baseman said:

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Start in Residential, acquire, then flip to Commercial.

    Stay in Residential and eventually one POS, insolvent squatter will ruin your portfolio.

    Inslee has destroyed a bunch of small LLs in the past 6 months. I hope he pays for it.
    I made $2M + in residential in less than 5 years, sold, 1099'd, rolled the profits into safe commercial deals with iron clad tenants. 2008/09 came along. I ended up stroking the banks $50,000 in cash and walked away "unscathed". All my eckities, gone. Just gone. Not a CSB.
    That was doable back then. I had buddies who retired in their early 40's during that time.

    I also had buddies who had negative net worth for a couple years, and other than their spoiled-rotten cunt wives divorcing them and taking their primary residences, bounced back better than ever within a couple years, realizing that they'd have been way better off if they'd dumped the non-working witch many years before.

    Which all goes to say that most women don't and never will understand where money comes from. They just want it.
    There’s more high earning chicks out there than you might think.
    @BearsWiin true?!?!?!?!?!?!!?!?
    YellowSnowcreepycougSFGbob
  • greenbloodgreenblood Posts: 10,684
    10,000 Up Votes 5,000 Awesomes 10000 Comments Seventh Anniversary
    edited August 2

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.

    It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
    YellowSnowtheknowledge
  • theknowledgetheknowledge Posts: 2,009
    Swaye's Wigwam 2,500 Awesomes 1,500 Up Votes 250 Answers

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.

    It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
    Thats my hope and my goal. Buy that beach house in a couple years and rent out my country home in Arlington. Working at a grocery store I have access to a bunch of twenty and thirty somethings that would be very interested in renting a house with property where they can garden, have a big dog, build a bon fire, blow off fireworks, shoot guns, or nestle in next to the wood stove on a cold winter night while paying a little less than they do for their shitty apartment in Everett or Lynnwood. When the housing market rises again after that, I sell the Arlington house and pocket the cash. I'm with Yellow, I don't want to be a landlord for long. Just long enough for the market to crash and rebuild.
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Minus rents(which are high risk) the market pays more per year in returns than property.
    What are you, my father-in-law? He's always saying "Why don't you sell those places and just invest in the market?"

    I tell myself he doesn't get it. But he's probably right, 'cause he's worth a lot more than me.
    UW_Doog_Botcreepycoug
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.

    It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
    Hardcore Husky, LLC? Who's in?
    creepycouggreenblood
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.

    It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
    Thats my hope and my goal. Buy that beach house in a couple years and rent out my country home in Arlington. Working at a grocery store I have access to a bunch of twenty and thirty somethings that would be very interested in renting a house with property where they can garden, have a big dog, build a bon fire, blow off fireworks, shoot guns, or nestle in next to the wood stove on a cold winter night while paying a little less than they do for their shitty apartment in Everett or Lynnwood. When the housing market rises again after that, I sell the Arlington house and pocket the cash. I'm with Yellow, I don't want to be a landlord for long. Just long enough for the market to crash and rebuild.
    Arlington shits on Everett and Lynnwood, just like Seattle shits on Kent, Tukwila and Federal Way.

    Some things never change. Everyone shits on the South. Ever since the Civil War.
    YellowSnowcreepycougDoog_de_Jour
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers
    "It only takes one shitty tenant to erase all your gains though and possibly worse." - Doog_Bot

    "And there are a lot of shitty tenants out there." - Yella

    ...aided and abetted by Seattle's Marxist City Council that despises the very concept of private property - like the good little commie bitches they are - and will do anything to encumber it and transfer rent monies from the owner to the city's coffers to house unemployed opiate addicts who moonlight as human traffickers.
    UW_Doog_BottrublueBleachedAnusDawg
  • creepycougcreepycoug Posts: 16,682
    Standard Supporter 10,000 Up Votes 10,000 Awesomes 10000 Comments

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Minus rents(which are high risk) the market pays more per year in returns than property.
    What are you, my father-in-law? He's always saying "Why don't you sell those places and just invest in the market?"

    I tell myself he doesn't get it. But he's probably right, 'cause he's worth a lot more than me.
    If you have good and reliable tenants it can be super lucrative, plus the bank allows you to leverage a low interest loan to invest, which you can't do with the market.

    It only takes one shitty tenant to erase all your gains though and possibly worse.
    That's when, yet again, the Godfather teaches us a valuable life lesson.

    Ask yourself: what would Michael Corleone do in this situation of having a non-paying squatter in one of his properties?

    Eh? You know what to do.
    YellowSnowBleachedAnusDawg
  • TurdBomberTurdBomber Posts: 11,945
    5,000 Up Votes 5,000 Awesomes 10000 Comments 250 Answers

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    Minus rents(which are high risk) the market pays more per year in returns than property.
    What are you, my father-in-law? He's always saying "Why don't you sell those places and just invest in the market?"

    I tell myself he doesn't get it. But he's probably right, 'cause he's worth a lot more than me.
    If you have good and reliable tenants it can be super lucrative, plus the bank allows you to leverage a low interest loan to invest, which you can't do with the market.

    It only takes one shitty tenant to erase all your gains though and possibly worse.
    That's when, yet again, the Godfather teaches us a valuable life lesson.

    Ask yourself: what would Michael Corleone do in this situation of having a non-paying squatter in one of his properties?

    Eh? You know what to do.
    He'd become Tony Montana?
    creepycougtrublueDoog_de_JourEsophagealFeces
  • creepycougcreepycoug Posts: 16,682
    Standard Supporter 10,000 Up Votes 10,000 Awesomes 10000 Comments
    edited August 2

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.

    It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
    Thats my hope and my goal. Buy that beach house in a couple years and rent out my country home in Arlington. Working at a grocery store I have access to a bunch of twenty and thirty somethings that would be very interested in renting a house with property where they can garden, have a big dog, build a bon fire, blow off fireworks, shoot guns, or nestle in next to the wood stove on a cold winter night while paying a little less than they do for their shitty apartment in Everett or Lynnwood. When the housing market rises again after that, I sell the Arlington house and pocket the cash. I'm with Yellow, I don't want to be a landlord for long. Just long enough for the market to crash and rebuild.
    Basically my plan. The Seattle house is paid off. I'm breaking ground on a very nice Chelan house (I already own the dirty) and will float that myself on current income. Last of the munchkins is graduating college this spring, and the Creep is all of a sudden very liquid again.

    I will also inherit an island place in warm weather climes. Winter there, Summer/Fall in Chelan, and have someone pay me through the ass to live in my Seattle place.

    Despite what you're all saying, I know more people than I can count who have been saying "San Francisco is going to hell in a hand basket" for 20+ years. And, still, property values there and in surrounding communities have gone up exponentially in that tim. Seattle is not goign to burn up and blow away. It just won't!!!

    While I can intellectually acknowledge that Cali is paradise lost and all the things that make it so, unlike 99% of people, I've never had any pull towards it. The culture isn't me, either in the north or the south. I'm more of an east coast animal at heart and vibe better back there. So my west coast is best coast self likes the PNW, and that's where I'll anchor because that's where the grandkids will be. But I want to winter elsewhere than in the west, even though that doesn't make a lot of sense.
    YellowSnowUW_Doog_BotDoog_de_Jour
  • WestlinnDuckWestlinnDuck Posts: 2,843
    2,500 Awesomes 2500 Comments 1,000 Up Votes 250 Answers

    Sledog said:

    Have rentals and have been selling them off when I can. A few left fortunately they've been paying their rent.

    I never want to be in the landlord bidness ever. I know I'm dumb and pour but I don't have the patience for it. A man's gotta know his limitations.
    You aren’t dumb. You’re actually thinking ahead. The landlord business is still very profitable over time once you consider the free equity you build through rent payments. However...that will soon change. Once more and more states implement rent increase caps and more and more tenant friendly eviction policies, the residential landlord business will dry up. Commercial will still be the way to go, but it’s difficult to have the funds to go right into it. You might have to be part of a partnership first.

    It will actually be a great time in the near future to buy a vacation home. As the residential landlord business falters, the housing prices will as well. Opening up a great opportunity to purchase a secondary beach house, lake cabin, farm cottage, or a mountain getaway, at a better price.
    Thats my hope and my goal. Buy that beach house in a couple years and rent out my country home in Arlington. Working at a grocery store I have access to a bunch of twenty and thirty somethings that would be very interested in renting a house with property where they can garden, have a big dog, build a bon fire, blow off fireworks, shoot guns, or nestle in next to the wood stove on a cold winter night while paying a little less than they do for their shitty apartment in Everett or Lynnwood. When the housing market rises again after that, I sell the Arlington house and pocket the cash. I'm with Yellow, I don't want to be a landlord for long. Just long enough for the market to crash and rebuild.
    Basically my plan. The Seattle house is paid off. I'm breaking ground on a very nice Chelan House and will float that myself on current income. Last of the munchkins is graduating college this spring, and the Creep is all of a sudden very liquid again.

    I will also inherit an island place in warm weather climes. Winter there, Summer/Fall in Chelan, and have someone pay me through the ass to live in my Seattle place.

    Despite what you're all saying, I know more people than I can count who have been saying "San Francisco is going to hell in a hand basket" for 20+ years. And, still, property values there and in surrounding communities have gone up exponentially in that tim. Seattle is not goign to burn up and blow away. It just won't!!!
    Until it does. They have been predicting a big LA quake for years. Sh*t happens quickly.
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