Those evil rich landlords

UW_Doog_Bot said:

YellowSnow 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.

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.

theknowledge said:

greenblood said:

YellowSnow 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.

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.

UW_Doog_Bot said:

TurdBomber said:

UW_Doog_Bot said:

YellowSnow 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.

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.

theknowledge said:

greenblood said:

YellowSnow 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.

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.