I am a former landlord and I approve of this message. We are back in the house we rented out for 22 years after we moved across the country to a better job, in a place we didn’t care for. We kept our house here so we could come back. We rented it out for 22 years at 30% or even less than market rate ($1600 a month in 2022 for a 3 bed two bath house near LA and a 10 m walk from the train) and we endured crooked and incompetent property managers, failed appliances and tenants who didn’t pay rent. One became a bank robber after we evicted them for not paying rent. They could have started robbing banks earlier I guess so they could at least pay the rent. Anyway, it worked out very well for us. We are back in our house where we like to live. People and companies who buy a bunch of houses and don’t rent them out to give people places to live shouldn’t be able to profit from doing that.
This proves the point. This is the kind of story that should end “so, in the end we ended up losing money on the place”. But, if an absent landlord can hire crooked and incompetent property managers, deal with deadbeat tenants, and still have it work out very well for them then it’s an investment where you really can’t lose.
I’m sure you’re lovely people. I don’t mean to criticize you in particular, just the game.
Had we sold our house when we took that job back east we would never have been able to come back here on what we could have saved from what a working person makes. So like I said, it worked out for us.
I am a former landlord and I approve of this message. We are back in the house we rented out for 22 years after we moved across the country to a better job, in a place we didn’t care for. We kept our house here so we could come back. We rented it out for 22 years at 30% or even less than market rate ($1600 a month in 2022 for a 3 bed two bath house near LA and a 10 m walk from the train) and we endured crooked and incompetent property managers, failed appliances and tenants who didn’t pay rent. One became a bank robber after we evicted them for not paying rent. They could have started robbing banks earlier I guess so they could at least pay the rent. Anyway, it worked out very well for us. We are back in our house where we like to live. People and companies who buy a bunch of houses and don’t rent them out to give people places to live shouldn’t be able to profit from doing that.
This proves the point. This is the kind of story that should end “so, in the end we ended up losing money on the place”. But, if an absent landlord can hire crooked and incompetent property managers, deal with deadbeat tenants, and still have it work out very well for them then it’s an investment where you really can’t lose.
I’m sure you’re lovely people. I don’t mean to criticize you in particular, just the game.
Had we sold our house when we took that job back east we would never have been able to come back here on what we could have saved from what a working person makes. So like I said, it worked out for us.
I don’t know why you’re getting disliked, it’s straight facts. And you weren’t even mean!
I only see one downvote, but thanks for saying that.