 Renting (by Ralph Knapp [TX]) Nov 13, 2013 6:31 AM
 Renting (by rani [TX]) Nov 13, 2013 7:05 AM
Renting (by John... [MI]) Nov 13, 2013 7:15 AM
Renting (by Txmike [TX]) Nov 13, 2013 7:32 AM
Renting (by Robert,Ontario,Can [ON]) Nov 13, 2013 7:39 AM
Renting (by Larry [MN]) Nov 13, 2013 7:49 AM
Renting (by Q [NE]) Nov 13, 2013 7:53 AM
Renting (by Baltimore LL [MD]) Nov 13, 2013 8:03 AM
Renting (by Lee [IN]) Nov 13, 2013 8:08 AM
Renting (by S i d [MO]) Nov 13, 2013 8:34 AM
Renting (by John... [MI]) Nov 13, 2013 8:49 AM
Renting (by Ralph [TX]) Nov 13, 2013 8:57 AM
Renting (by BRAD 20,000 [IN]) Nov 13, 2013 9:13 AM
Renting (by Ralph [TX]) Nov 13, 2013 9:38 AM
Renting (by Pattyk [MO]) Nov 13, 2013 10:19 AM
Renting (by Nancy [IN]) Nov 13, 2013 11:03 AM
Renting (by V [OH]) Nov 13, 2013 11:10 AM
Renting (by Lee [IN]) Nov 13, 2013 11:21 AM
Renting (by BillS [CO]) Nov 13, 2013 12:29 PM
Renting (by cjo'h [CT]) Nov 13, 2013 9:14 PM
Renting (by Ralph Knapp [TX]) Posted on: Nov 13, 2013 6:31 AM
Message:
State Specific Question About: TEXAS (TX)
Anybody with experience buying a home and then renting it. --216.188.xxx.xxx |
Renting (by rani [TX]) Posted on: Nov 13, 2013 7:05 AM
Message:
this is a landlord and investor forum, so yes many of us do have experience. You need to have a more specific question --50.202.xxx.xxx |
Renting (by John... [MI]) Posted on: Nov 13, 2013 7:15 AM
Message:
Nope. None. This is actually just a page where we worship the Cult of Mr. Landlord. It has nothing to do with buying properties and renting them, sorry.
;)
- John...
--216.111.xxx.xx |
Renting (by Txmike [TX]) Posted on: Nov 13, 2013 7:32 AM
Message:
Yes, I've done it a couple dozen of times. Can be profitable, stressful, hard work, exciting, and many other things all at the same time. --66.169.xxx.xxx |
Renting (by Robert,Ontario,Can [ON]) Posted on: Nov 13, 2013 7:39 AM
Message:
Consider joining a landlords association where one can google to find one close to where one wants to buy. Attend a few meetings then over time one will learn the process. --74.220.xxx.xxx |
Renting (by Larry [MN]) Posted on: Nov 13, 2013 7:49 AM
Message:
Reminds me of the scene from Animal House where Flounder walks up on a group obviously playing poker. "Hey you guys playing cards"? he asks. --206.229.xx.xx |
Renting (by Q [NE]) Posted on: Nov 13, 2013 7:53 AM
Message:
Ok Folks. Let's be nice. First time in here and we are chasing him away with our comments.
Ralph, you have landed at the right spot. What is your question? --24.51.xx.xx |
Renting (by Baltimore LL [MD]) Posted on: Nov 13, 2013 8:03 AM
Message:
We could use some new posters and questions here. Not that I don't like the current ones--I rather like this group a lot--but sometimes new participants can help raise questions or catalyze new ways of thinking. --50.58.xx.xxx |
Renting (by Lee [IN]) Posted on: Nov 13, 2013 8:08 AM
Message:
It is actually a very good way to make to topless money. And ice cream funds. --216.69.xx.xx |
Renting (by S i d [MO]) Posted on: Nov 13, 2013 8:34 AM
Message:
I'm a big fan of rentals. The key is to get educated BEFORE jumping in. It's not as easy as it looks from an outsider's perspective.
My advice is to find three happy, successful local land lords who have a good reputation for fair dealing and take them out to dinner. You buy them a t-bone steak and talk to them about what they've done to be successful. The cost will be recouped a hundred times over, and they will probably be willing to let you ask questions in the future.
Also, keep coming here and reading. It does help if you ask specific questions. And tell us a little about yourself: where are you? what are your goals? why are you investigating real estate vs. something else? --108.250.xxx.xxx |
Renting (by John... [MI]) Posted on: Nov 13, 2013 8:49 AM
Message:
Q: Where was anyone above your post "not nice"?
rani explained that it was a LL forum and asked for more info.
I made what was clearly a joke and even included a little winking smiley to make that very clear.
Txmike said that they had done it many times and gave a quick summary of what it takes.
Robert suggested that they join a local LL association to get more local info and see how it works.
Larry also made what was clearly a joke pointing out the similar Animal House question.
I don't see that anyone was "not nice" and trying to "chase him away". That just didn't happen.
- John...
--216.111.xxx.xx |
Renting (by Ralph [TX]) Posted on: Nov 13, 2013 8:57 AM
Message:
I'm 61, retired, kids, two daughters, grown and on their own. I'm a partner in a 27 unit mobile home park, we rent the spaces, no homes. I own a small house and lot in OK I want to sell. I have a lot with a T-Mobile/Crown Castle tower on it, they offered to buy the lease on a 15 year pay out and buy the real estate as part of the deal. I said no, the lease has 20 years to run, and they aren't going anywhere. My CPA has indicated he is interested in partnering with me on a deal, with me managing the property. My girlfriend is disabled, I am looking for investments to leave to her if any thing happens to me. She has a GF that wants to move from her apartment into a home but doesn't have the down payment and maybe not the credit, I could co sign, but want to take care of myself and Girlfriend. Lets see, I have income from my park, my T-Mobile lease, my pension, and next year I am applying for social security, I am comfortable financially and will be. I like money, but believe that business success comes from catering to others needs. Any advice is appreciated. I am already looking at a local land lords association. Thanks. --216.188.xxx.xxx |
Renting (by BRAD 20,000 [IN]) Posted on: Nov 13, 2013 9:13 AM
Message:
Hiya Ralph!
Welcome! You are in the right spot. ANd friends here have a great sense of humor.
(Make a note: sense of humor is a MUST or you'll go crazy in the rental biz!)
Brad's Rule #4: Never ever NEVER rent to friends or relatives. Never.
"I'll help you find a place. I want to be yoru friend not your landlord. And besides I'd feel bad if I had to evict you :)"
Better the gift them $1000 than take them in.
And you laid it out: the friend has no money, no credit. Sorry.
My 36 year advice:
-only take advice from happy, wealthy landlords
-get connected. Here and locally.
-read up. Tons of stuff on this website
..Landlord Kit
..Landlording on Autopilot
..How I Started With Nothing and Made $12 Million
-you are really wearing 2 hats: investor (find em) and manager (keep em)
Hope to see more posts from you as you develop your plan.
--67.175.xx.xxx |
Renting (by Ralph [TX]) Posted on: Nov 13, 2013 9:38 AM
Message:
Thanks again, I wasn't offended by the jokes. --216.188.xxx.xxx |
Renting (by Pattyk [MO]) Posted on: Nov 13, 2013 10:19 AM
Message:
Anybody with experience buying a home and then renting it.
I'm not ANYBODY but PattyBody... are you thinking of doing this!? Do tell! --173.156.xxx.xxx |
Renting (by Nancy [IN]) Posted on: Nov 13, 2013 11:03 AM
Message:
Lee(IN): It is actually a very good way to make to topless money
Lee, please tell us more about this topless money you are making? ;)
Ralph, sure, we all have experience. Start reading this forum and jump right in. Welcome. --50.129.x.xxx |
Renting (by V [OH]) Posted on: Nov 13, 2013 11:10 AM
Message:
I prefer cheesecake for the celebration of a clunker turned into castle, I do much of the hidden work myself - add new wire to bath and kitchen outlets - replace all drain plumbing and supply valves so turning off a water leak is easy, plus opening hvac motors to oil bearings - this is maintenance autopilot and provides me ample time for fishing and live orchestra concerts. Mr V's own cash for clunkers program, many of us here follow this idea some with handyman in tow. Read here often, if you own stock in a carpet store - sell, carpeting in this business is primarily a stink-n-stain magnet, smooth hardwood is cleaner even when it is dirty. --75.94.xxx.xxx |
Renting (by Lee [IN]) Posted on: Nov 13, 2013 11:21 AM
Message:
Pookie, Pebbles, Bam Bam, and I love to go topless on pretty sunny days. We drive through the country and town topless. Music blaring. Jeeps are so much fun.
When we wanted a "freedom" jeep in May of 2012, we bought a couple of SFHs. The rents more than pay for "freedom" and ice cream.
Pebbles and Bam Bam love to see Pookie pick them up from school topless. (in Freedom Jeep) --216.69.xx.xx |
Renting (by BillS [CO]) Posted on: Nov 13, 2013 12:29 PM
Message:
Ralph - Brad20k's advise about the GF and her friend is golden. If you do nothing else but take that advise it will pay you huge dividends and save you even more heart ache.
Lee the topless is great. In my case the minivan doesn't do topless too well but having a goal "freedom" is great. --75.160.xxx.xxx |
Renting (by cjo'h [CT]) Posted on: Nov 13, 2013 9:14 PM
Message:
Welcome Ralph (TX)This .is a great spot for information to guide you in the right direction.There are many pitfalls,so you have to be thick skinned.There are many good books available through Mr.Landlord,Get one or two.There is also one floating around somewhere in a used bookstore written by Bill Nickerson away back when,about "How I turned $1000 into a million in my spare time".Get it,It'll explain a lot,and I wish you the best of luck.Luck and a bit of determination,you can do it .Charlie.... --70.215.x.xx |
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