I don’t feel I have the fortitude that it takes to be a full time property owner.
One of my best friends inherited a small chunk of money from his Grandpa’s estate and decided to turn it over into rental properties.
He had no experience and wasn’t a trained handyman care about various of the fulltime property owners that every one of us have met in the past while renting apartments in college. He wasn’t even sure how to advertise or what the laws were regarding renting out homes in our state. Needless to stay, things did not go as planned. It abruptly became the primary focus in his life and forced him to quit his job from the constant demand. He had to be at 1 of his rentals 1 day and at the others each consecutive day of the work week. Things care about Heating as well as Air Conditioning and plumbing repair are necessities that our state requires for all occupants by property owners or property management companies. He had 1 occupant who kept complaining about her a/c going off. But every time he went out to the house, he found the temperature control set to 66 degrees while outside weather was hovering in the 72s. The last time resulted in a cracked evaporator coil and forked a large repair bill that my friend had to cover in full. Eventually this occupant quit paying rent altogether, forcing my friend to start the eviction process. When he finally came to the current home to detach her things, he had to open a window because she had barricaded the front and back doors with chairs. But when he got inside, she was nowhere to be found. The current home smelled care about rotting fish, which every one of us soon found out was due to the sardines she threw in the a/c return before leaving.