Re: Pro's and Con's to owning rental realestate...

Re: Pro's and Con's to owning rental realestate... by Anonymous on November 20, 2009 @13:41

This is an open forum. All anyone has to do is ready the threads and they know the weaknesses of a landlord. You might be keeping your secrets close to your chest but other landlords are splilling it all out.

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Re: Pro's and Con's to owning rental realestate... by Eve (IL) on November 20, 2009 @14:05

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I have been thinking about this since I first read the "Not so Fast" post when it first went up. I'm pretty sure I'm the stupid LL anonymous was reffering to. Thank you!

I just don't get what you are worried about with the OP??

Ok, for arguments sake the "writing a paper" is a ruse. So is this a Guy thinking of a way to start a business, to make a buck? Don't we as LL pay for the useful tools we use every day? Are we not here to see if there are new or better ideas on how we do things every day. If not we should be, in business as in life, stand still and get run over! Asking his target market what they think of an idea is not a crime. I know he said writing a paper and I'll give him the benefit of the doubt on that.

When I started my business outside of being LL you bet I asked my target market what they needed or wanted, what they thought I could do to be successful.

If this is a scam I will just hope when it comes down to it LL's will do their own due diligence. Plenty of scammers out there, I agree. I also agree that if he’s not writing a paper he shouldn't claim he is but whatever...isn't posting anonymously hiding a little behind the scenes also??

Re: Pro's and Con's to owning rental realestate... by mike (texas) on November 20, 2009 @18:52

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Thanks for your honest thoughts. There is no way for me to truly prove who I am or what my motives are past what I have told you thus far. I had no idea that posting this question in an open forum would result in such deep thought, defenses, conversations and accusations. If it means anything at all, I am a creative writer, not analytical at all. So my request for you to monatize your answer so I knew what having a tenant moved in to a vacant property asap meant to you and others as lanldlords, was simply my way to create color in my "boring" research paper. Let's face it, realestate investing and operating isn't exactly sexy when put on paper to most people. When you speak in dollars and cents people tend to listen and can grip the meat of the subject they would otherwise have had no idea about. You are the expert(s), not me, mot my teacher, not my fellow students. If I asked you to read a 20 page paper on the theory of relativity and expect you to understand, much less get excited about multiple key points, you might chuckle at the notion just as I would. But speak in terms everyone understands and are generally intereseted in, like money, suddenly I can help you understand the seriousness of certain issues in a unique and interseting way. That's about all I can say to help you understand my primary question. I hope this helps you form a different opinion of my motives. Otherwise, you have your God given right to keep what you know and/or think to yourself. Thanks for your response as it raised a fair question that I hope I answered for anyone that may have had the same concerns.

Re: Pro's and Con's to owning rental realestate... by Eve (IL) on November 20, 2009 @20:55

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You don't have to justify yourself or your question to me. I agree this is an open forum and anyone can post a question and those that choose to answer do. Some here tend to judge then post their judgments. Again open forum and we have to endure that.

I have a few different properties which all have their own costs associated with them. Not a constant from property to property. Also those costs will vary from state to state, county to county etc. The property taxes, insurance age of the unit etc. etc. all comes into play. On average I will say my out of pocket expenses would range from 1000 to 1300 per month when a unit is empty. That is for me here in IL. Now if the property was in CA. or KY those # I believe would change drastically. Much higher in CA & probably much lower in some areas of KY.

Anything that can be done to reduce these costs is intriguing to me but as I said earlier I am skeptical about the idea you outlined but it is interesting.

Another anonymous poster below suggested you seek out a local LL association etc. I think that is a great idea for you and I wish you luck with your project!

Re: Pro's and Con's to owning rental realestate... by Ultimate M-Bone on November 21, 2009 @15:22

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Tenants have enough sources of information out there to hurt their landlords. Unfortunantly, this site is also a source, why feed into it? Would you give your problem tenant any ammunition to use against you? No, you wouldn't. Not saying you said anything here that another tenant can use against their landlord. But I caution every landlord here to use discretion.

Just this month I served a 3 day notice to one of my tenants, filed in court and then tenant called freaking out, in his conversation it was apparent that he wanted information he could use. One being how long would he have. I wouldn't tell him, except, "It doesn't take me long, I could get you set out pretty quick". He ended up paying cash in full his rent, late fee, court cost, fee for the process server and my fee for posting the 3 day notice yesturday.