Being a Landlord

  female
Leaa | 17 Apr 2008 - 4:01pm

I have an excellent opportunity to buy a really nice rental property. Right now weighing the pros and cons...Good investment or more of a headache? Has anyone here been a landlord, or would you, if given the opportunity?

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maledresstoimpress | 17 April 2008 - 5:25pm

If you're lucky, then you'll have both. A headache you'll have anyway ... .


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maleSnoopy2 | 17 April 2008 - 6:06pm

Depends on the local law and circumstances. In my place it is not really intresting for private persons. I would recommend to make sure in advance that (if the house is old) all bills and incomes form at least the last 5 years are to be seen. Make sure, that you really own the house and not any company. Calculate seidecosts (tax, custodian, refurbishment ...). Ask a specialist if there might be bigger repairs necessary. Ask owners from properties nearby, check how long the people stay (if there is a big fluctuation - keep your hands off) ....
It is risky. I would never buy one with the exception af a one familiy or maybe a semi-detatched house. Never a single flat in a multistory building.
Perhaps I can say more if I know more about the objekt ...

femaleffyona | 17 April 2008 - 8:30pm

You will never see poverty by receiving a profit girlfriend.


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maleJanus_ | 17 April 2008 - 9:35pm

Just make sure you have a good business plan and all the information that you might need. I don't think investing in real estate is a bad choice.


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femalerhiannondc | 17 April 2008 - 10:14pm

It all depends on how it is going to be like.
If it's a duplex or an appartment building .......

With an appartment building ( i live in one ) there is always something. Mostly because you have more places to take care of.

If it's an duplex it is smaller but still than it depends on wether your going to live in it and rent a part out or not.

The main thing is to make sure you get people which you are certain of they will pay the rent at the end of the month. And as a return when they have a problem that you will handle on it instead of letting it slack. In a duplex however ( if your going to live in it ) make sure they are people you really can get along with.

It is all on how is the situation and all.

Rhiannon


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maleAngelete | 17 April 2008 - 10:19pm

You have one house already? If it is nice and you wanna buy another one then yeah, you might be turning into a landlord Laughing Seriously, if you have this doubt, it is because you're gonna get a headache, otherwise you would have bought the house right away without hesitating. A headache is never a good investment Laughing

No, i have never been a landlord and i dont think i'd like to become into one Very happy


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femalemissis | 18 April 2008 - 6:42am

Given the opportunity I would do it . That will give me another source of another income . I own a private flat that I am staying and would save for another one to rent out. I think property is a good investment. Go for it.


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femaledimanad | 22 April 2008 - 11:10am

well i would deffinitely be if i had the chance. my parents are,
the best thing is to buy an appartment or a house, renovate it and then sell it or find ppl who'd rent it.
it is a good investment and u dont get a lot of stress like when u trade with bonds or invest on the stock market....

femaleRika Kosta | 9 May 2008 - 3:58pm

well it cuts both ways, if you are ready to keep a serious responsibility and to be always ready to account-you should risk, especially if you have true chance Eye-wink My uncle is a big landlord, and ooooh what a headaches follow him every day. But! It costs to have a happiness to have all these lands, forests, lakes and to be a real landlord !


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