Quote:
Originally Posted by jaoneill
I just sold my last single family rental and, although it payed for itself 3X over the past 30 years, it was almost always a hassle....
Good luck!
Jim
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X2 on that.
My dad (actually step-dad, but he was more of a father to me than my bio-dad) owned and managed a large number of rental properties, comprising of single family homes, condos, and apartment buildings. He fixed everything himself. While the renters paid off all the mortgages several times over, it was a constant hassle. It has to be something you enjoy, or at minimum, something that you can tolerate. I quickly learned it was not the lifestyle for me.
I grew up as the kid mowing yards, painting walls, peeling off wall paper, shampooing carpets, etc.
The sad thing is that he left a multi-million dollar estate to my mom when he died about 15 years ago, and now it's all gone. My mom has managed to whittle away a lifetime of hard work and saving to finance a lifestyle of acquisition and consumption. She's gone through about $1,000,000 in cash and sold off each property systematically over the years, and it's all gone.