Any landlords out there?

[Transient]

You won't be able to find me in my cabin in the woods. :ninja:

[Transient]

My 3 newest purchases:







The first two I closed on a few months ago, and within the first few weeks of owning it I met my next door neighbor and learned that he wanted to sell his apartment building. We agreed on a price and closing was last week, so now I own 3 apartment buildings all next door to each other on a street corner.

This most recent one needs a lot more work than the other two; I need to shore up the foundation in places, the attached barn needs to be demolished, and the main boiler needs to be replaced. It's a 4-unit building with 3 occupied, but the 4th is currently gutted and needs a total renovation before it can go on the market. It's not going to be cheap.

Time to hire a property management company! :tard:

[lars63]

Looks like you did good!

[Whiskey 7]

Nice and time for a good accountant too, keeping it separate from the property management company in my experience is a good idea.

[Transient]

I just sold the cottage I bought back in 2019 and closing was today. I got really lucky with the market and made a lot of profit on the place. The margins were just too narrow to justify keeping it as a rental property, especially as a single family rental. 2 months' unpaid rent and I was in the red for the year. The profit is all going into the 3 apartment buildings I picked up last year, and maybe I'll buy another building if I can get the bank to give me another loan. :paranoid:

Hiring a property management company definitely made this all easier.