Re: rental burnout - Saab General Bulletin Board - Saabnet.com
NG900 & OG93 |
Vintage Models |
Clubs & SOC |
Other Cars |
Member Photo Galleries |
Member Directory |
*Buddy Registry |
*Mileage Registry |
What's New |
Photo of the Month |
I am taking over tenants which the previous owner has leased the properties to, so I have no plans on raising rents or changing much of anything. I have spoken with three of the four renters over the years, since we are all neighborly. Only one knows my intentions to buy, and he was actually relieved they weren't going to be taken over by a slumlord. Two of the other tenants are older women(sisters) who have been there for a few years, and are very respectful neighbors. The only ones I haven't met are actually "one of the best they've ever had" as described by the owners. I have been inside and out of these properties for the past 18 years, and have lived in one and rented another for the same period of time. My uncle and his two sons are home remodelers, and they have also done work inside each. If I need something done that I can't do, I can call them to do it, and have the cash flow to pay for it. They are over built and not maintenance nightmares. The family I am buying from has been renting them since they were brand new in 1959 and 1961 - they paid cash to build them, so they have been making good money for 50 years already - now it's my turn. I think living next door with respectful tenants will be a plus, so I think I can handle this venture. Sometimes we may rent to a bad one, but that comes with the business - I have a lawyer who can handle evictions if needed. This to me is an opportunity to almost double my income overnight - and I know these properties, so I know my risk is very low. I have the financial means to make this deal happen right now, so I'd be pretty dumb if I didn't jump on the opportunity. I really don't care about appreciation and equity, but cash flow and tax deductions are on my list.
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
- 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
Post a Followup
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.
This is a moderated bulletin board - Posting is a privilege, not a right.
Unsolicited commercial postings are not allowed (no spam). Please, no For Sale or Wanted postings, SERIOUSLY.
Classifieds are to be listed in The Saab Network Classifieds pages.
This is a problem solving forum for over 250,000 Saab owners, so expect to see
problems discussed here even though our cars are generally very reliable. This is not an anything goes
type of forum. Saabnet.com has been a moderated forum since 1988. For usage guidelines, see the
Saabnet.com Mission and Purpose Page. Please remember that you are
not anonymous. Site Contact | Site Donations | Other Sites by SP -
Your address is: 184.108.40.206 - Using CCBot/2.0 (https://commoncrawl.org/faq/) - Logged.
Site Members do not see red text instructions, bottom of the page anchor ads, or box ads.
Click here to see all
the Site Membership Benefits!