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46
fdhfoiehfeoi
2022 Oct 18, 10:41am
fdhfoiehfeoi
2022 Oct 18, 10:41am
Sounds like the classic case of buying without vetting the purchase. Happened to my friend also on one of his first rental property purchases. If you're buying rental property, make sure to vet the existing tenants.
47
WookieMan
2022 Oct 18, 10:47am
WookieMan
2022 Oct 18, 10:47am
NuttBoxer says
Buy commercial, preferably cash. NNN lease. No emotion and no responsibility in comparison to residential. I'd never do residential rentals again unless it was the deal of a lifetime. People running a business have drive to not fail. Residential tenants know they can fuck you over and it not be a big deal for them.
Sounds like the classic case of buying without vetting the purchase. Happened to my friend also on one of his first rental property purchases. If you're buying rental property, make sure to vet the existing tenants.
Buy commercial, preferably cash. NNN lease. No emotion and no responsibility in comparison to residential. I'd never do residential rentals again unless it was the deal of a lifetime. People running a business have drive to not fail. Residential tenants know they can fuck you over and it not be a big deal for them.
48
zzyzzx
2023 Jan 3, 6:50am
zzyzzx
2023 Jan 3, 6:50am
https://www.reddit.com/r/RealEstate/comments/1016v2g/dog_peeing_from_upstairs_condo_balcony_toronto/
Dog Peeing from Upstairs Condo Balcony
Dog Peeing from Upstairs Condo Balcony
49
zzyzzx
2023 Mar 28, 10:14am
zzyzzx
2023 Mar 28, 10:14am
https://www.reddit.com/r/realestateinvesting/comments/1232kwv/my_battle_with_squatters/
My Battle with Squatters
My Battle with Squatters
50
zzyzzx
2024 Sep 5, 11:20am
zzyzzx
2024 Sep 5, 11:20am
https://www.reddit.com/r/FluentInFinance/comments/1f77egg/im_a_failed_real_estate_investor_heres_what_i/
I'm a failed Real Estate Investor.
I'm a failed Real Estate Investor.
51
AD
2024 Sep 5, 12:18pm
AD
2024 Sep 5, 12:18pm
zzyzzx says
For a Democrat state, even Colorado has anti-squatter laws like Florida.
I think Florida recently copied Colorado's law and they threw the book at a recent squatter from New York who thought he could game the system in Bay County, Florida.
I suspect now some criminals coming down from the north realize Florida just passed an anti squatter law: https://sa14.fl.gov/2024/07/26/squatter-sentenced-to-40-years-in-prison/
I think the reason being is all the rich white Democrats who own vacation homes in Aspen, Vail, etc.
Also there are a lot of AirBnB homes in Colorado (just like there are in Florida with the beach condos, etc); so they need these anti squatter laws to protect the vacation home rental industry.
.
https://www.reddit.com/r/realestateinvesting/comments/1232kwv/my_battle_with_squatters/
My Battle with Squatters
For a Democrat state, even Colorado has anti-squatter laws like Florida.
I think Florida recently copied Colorado's law and they threw the book at a recent squatter from New York who thought he could game the system in Bay County, Florida.
I suspect now some criminals coming down from the north realize Florida just passed an anti squatter law: https://sa14.fl.gov/2024/07/26/squatter-sentenced-to-40-years-in-prison/
I think the reason being is all the rich white Democrats who own vacation homes in Aspen, Vail, etc.
Also there are a lot of AirBnB homes in Colorado (just like there are in Florida with the beach condos, etc); so they need these anti squatter laws to protect the vacation home rental industry.
.
52
AD
2024 Sep 5, 12:29pm
AD
2024 Sep 5, 12:29pm
zzyzzx says
all about research and due diligence
i agree as far as the other post about checking existing leases and who the tenants are as well as verifying the financial docs that the seller provides
hire a good building inspector to check from foundation to the top of the roof including condition of utilities like water and sewer lines, storm water issues now and potentially in the future, etc
as well as what is next to the real property such as undeveloped land that could end up being developed and reduce your property value or make it hard for customers to reach the tenant stores on your property
.
I'm a failed Real Estate Investor.
all about research and due diligence
i agree as far as the other post about checking existing leases and who the tenants are as well as verifying the financial docs that the seller provides
hire a good building inspector to check from foundation to the top of the roof including condition of utilities like water and sewer lines, storm water issues now and potentially in the future, etc
as well as what is next to the real property such as undeveloped land that could end up being developed and reduce your property value or make it hard for customers to reach the tenant stores on your property
.
« First « Previous Comments 46 - 52 of 52 Search these comments
I rented a condo to a 50-something guy that was moving to Oakland (Rockridge) for work from the east coast. He lived in the unit for 5yrs.
I get a call from him one Saturday morning saying the kitchen sink is backed up and the disposal isn’t working.
At the time I was managing the unit. I show up to find the garbage disposal completely full to the top with orange peels and watermelon husks.
I look at the guy to see if I could find a trace of common sense in his eyes. I replace the disposal and inform him that this is not a commercial grade disposal and items like that must go in the trash.
That was one small example why I’m no longer a landlord.
I have many stories but interested to hearing yours as well.