Sherdog landlords ....eviction help

[Oblivian]

Tell that to all the landlords with tenants who didnt pay their rent for the past 18 months.

Plenty of real estate investors dont rent out their properties.

No one is denying that being a landlord can be a pain in the ass. I really have no clue how you think buying a property and letting it sit vacant for 10 years will be profitable. You must not own any real estate. The property taxes, insurance, utilities, maintenance, etc. will absolutely eat up any appreciation. This is not only the worst investment advice that I've seen on Sherdog, but it is literally the dumbest thing that I've heard on here which says a lot.

 

[Drain Bamage]

No one is denying that being a landlord can be a pain in the ass. I really have no clue how you think buying a property and letting it sit vacant for 10 years will be profitable. You must not own any real estate. The property taxes, insurance, utilities, maintenance, etc. will absolutely eat up any appreciation. This is not only the worst investment advice that I've seen on Sherdog, but it is literally the dumbest thing that I've heard on here which says a lot.

Amen

 

[plataoplombo]

I think it depends on your type of rental, along with a certain amount of luck..I always owned higher end property, higher income professionals for me have been more dependable..

I have another buddy who owns a bunch of section 8 places, government pays him directly, properties aren’t pretty, tenants are a little rough, but the money is always there..
That middle of the road might present the greatest risk, not sure..

This is the conclusion I've come to also. Lower end stuff, stick to section 8, and screen the higher end units like they're applying for a loan.

 

[AznTrojan]

No one is denying that being a landlord can be a pain in the ass. I really have no clue how you think buying a property and letting it sit vacant for 10 years will be profitable. You must not own any real estate. The property taxes, insurance, utilities, maintenance, etc. will absolutely eat up any appreciation. This is not only the worst investment advice that I've seen on Sherdog, but it is literally the dumbest thing that I've heard on here which says a lot.

not really. you either want cash flow or appreciation.. certain properties can be both.. i got a dead beat renter that owes me 5 figures.. but i can easily bank 6 figures in appreciation if i sell my property right now..

 

[12ga.]

Marketable securities only here but my mom had 36 rentals and did all evictions herself. My mom is like 100 lbs but tough cookie. Tougher than me 3x her size. I don't have stomach for it. But she'd throw ppl out who were dirty let alone late.

 

[Oblivian]

not really. you either want cash flow or appreciation.. certain properties can be both.. i got a dead beat renter that owes me 5 figures.. but i can easily bank 6 figures in appreciation if i sell my property right now..

The national average for appreciation per year for a house is <4%. 4% isn't a great return to begin with, but are you telling me your carrying costs aren't going to eat that 4%? That's crazy.

In our market, it's absolutely a great time to be a landlord as you have the option to sell at a very high price now, but we also have a rental shortage due to this which has drove up rents. I wouldn't consider this a normal market by any means though.

 

[ralphc1]

The most perplexing part of it all was the guy acting like I was an asshole, me, the guy who hasn't been paid rent in 3 months on the property I own and allow you to live in.... and ultimately wasnt paid rent for 7 months when it was all said and done. Fucking deadbeats.

I got out of real estate pretty quick.

It doesn't take long to lose a lot of money.

 

[AznTrojan]

The national average for appreciation per year for a house is <4%. 4% isn't a great return to begin with, but are you telling me your carrying costs aren't going to eat that 4%? That's crazy.

In our market, it's absolutely a great time to be a landlord as you have the option to sell at a very high price now, but we also have a rental shortage due to this which has drove up rents. I wouldn't consider this a normal market by any means though.

national average doesn't mean much when properties around here are 20-25% year over year

 

[Oblivian]

national average doesn't mean much when properties around here are 20-25% year over year

Where are you located?

 

[Chest Rockwell]

A few hundred dollars to some linebacker type men always gets the job done, quick and easy.

 

[snowbro]

No one is denying that being a landlord can be a pain in the ass. I really have no clue how you think buying a property and letting it sit vacant for 10 years will be profitable. You must not own any real estate. The property taxes, insurance, utilities, maintenance, etc. will absolutely eat up any appreciation. This is not only the worst investment advice that I've seen on Sherdog, but it is literally the dumbest thing that I've heard on here which says a lot.

Yea you made the comment about worst advice already. Thanks for saying it again. I see why u have 40 000 posts. I guess I will have to say again. Plenty of people buy real estate and don't rent it out. The Chinese own a ton of Canadian real estate that stays vacant. The Prime Minister Justin Trudeau promising a ban on foreign purchases for 2 years as part of his campaign on the upcoming Canadian federal election BECAUSE of all the foreign real estate investors buying property in Canada and not renting it out thus creating a housing crisis in our country. It makes sense for these investors to not rent it out, park their money etc. By your definition these investors are practicing "the worst advice in sherdog history."

I have been successful on 3 properties that I have not rented out. I am very selective about what property to buy. Finding a property is like 90% of the job. Maybe it's possible that you enter shit deals or don't have the income to carry properties (with low taxes). Either way, if a renter fucks up my hardwood, that's more than their rent for the year, and that's hoping they pay their rent LMAO. or you know fuck up all my shit and dont leave and im FUCKED stuck behind red tape.

There are literally multiple formatted reality tv shows on home and garden network about house flipping that doesn't have renting the homes as part of the equation. These people are buying real estate, renovating and flipping. Making real money. No renters involved.

 

[Oblivian]

Yea you made the comment about worst advice already. Thanks for saying it again. I see why u have 40 000 posts. I guess I will have to say again. Plenty of people buy real estate and don't rent it out. The Chinese own a ton of Canadian real estate that stays vacant. The Prime Minister Justin Trudeau promising a ban on foreign purchases for 2 years as part of his campaign on the upcoming Canadian federal election BECAUSE of all the foreign real estate investors buying property in Canada and not renting it out thus creating a housing crisis in our country. It makes sense for these investors to not rent it out, park their money etc. By your definition these investors are practicing "the worst advice in sherdog history."

I have been successful on 3 properties that I have not rented out. I am very selective about what property to buy. Finding a property is like 90% of the job. Maybe it's possible that you enter shit deals or don't have the income to carry properties (with low taxes). Either way, if a renter fucks up my hardwood, that's more than their rent for the year, and that's hoping they pay their rent LMAO. or you know fuck up all my shit and dont leave and im FUCKED stuck behind red tape.

There are literally multiple formatted reality tv shows on home and garden network about house flipping that doesn't have renting the homes as part of the equation. These people are buying real estate, renovating and flipping. Making real money. No renters involved.

This is completely different than what you stated. You said buy a property, hold it for 10 years, then sell. Flipping is a much shorter time frame and you didn't mention shit about renovating. Time is the enemy to flippers and that's for a reason on the carrying costs! Over the last 15 years, I've literally been a part of thousands of real estate deals. I've worked across multiple markets include residential, commercial, and ag. You will get absolutely slaughtered in almost every market buying real estate and holding it without any rental income coming in. These are simple numbers to look at. The carrying costs will eat the appreciation, not to mention when you factor in inflation. It is a horrible investment strategy and the numbers I gave already back that up.

 

[steeldragon]

I'm curious in America do tenants have to leave a bond before moving in. Australia you have to leave a months rent before you can move in then when you leave you get your bond back as long as you haven't coursed no damages to the property.

 

[plataoplombo]

I'm curious in America do tenants have to leave a bond before moving in. Australia you have to leave a months rent before you can move in then when you leave you get your bond back as long as you haven't coursed no damages to the property.

Yes, we call it a security deposit though. On average it's the amount of 1 month's rent but sometimes it can be more.