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I've shared my story with a few contractors who come into my work and they of course have stories of their own to tell. It seems the most common denominator with rental property burnout is distance. They buy up a dozen houses scattered over cities and counties and are forever driving to do repairs, yardwork, or chase rents. These are all next door, so it will definitely be more manageable. I've never had a strong desire to own rental property - some people dream about it - I do not, but I do like the fact that people will give me money to buy a piece of property for me. I've collected about $90k over the past 14 years on just this one.
When the family offered them to me a month ago and I turned them down yet again, stating I just didn't have the energy to take on more responsibilities - the woman looked at me and said "what do you want me to do, come over and cut the grass for you?" Meaning, that's about all they really do, unless of course there is a vacancy. I just bought a new 30" Toro Timemaster mower($1000 mower reduced to $600), so I guess I'm all set.
Posts in this Thread:
- Good things can happen to people who work hard., DougM , Mon, 22 Oct 2012 14:03:06
- Re: Good things can happen to people who work hard., turbocon86, Tue, 23 Oct 2012 07:48:40
- wow, SRS900S, Mon, 22 Oct 2012 21:51:13
- rental burnout, DougM , Tue, 23 Oct 2012 04:16:43 <-- Viewing This Message
- Pay down the loan with some of the profit..., Mark from Toronto, Mon, 22 Oct 2012 20:26:43
- A very good deal, RS , Mon, 22 Oct 2012 19:06:36
- Congratulations, Tim, Mon, 22 Oct 2012 18:55:45
- Congratulations!, MI-Roger , Mon, 22 Oct 2012 16:23:50
- Re: Good things can happen to people who work hard., NCCaniac , Mon, 22 Oct 2012 14:30:10
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