I just want to live in a van down by the river.
Lewis, you should be making decent margins on 5 properties. If you need tips or help start a thread with the main problems and we'll try to help you show a profit. Your tax returns should ALWAYS be a loss though, unless you're trying to finance more property.My wife and I have inherited 5 rental properties and notwithstanding the taxes increasing as well as the services we provide our tenants there's the damage we must repair after everyone, and I do mean each and every one leaves behind it's nearly impossible to make even a modest profit. In the ten years we've managed just these 5 I've lost count of the windows broken and "Specialization" or modifications to the property we've had to repair. The stories are as fanatical as there are many so we just keep on plodding through and do the best we can to provide a safe clean place that our tenants can call home.
Joe, unless you're going to start a civil war you're just preaching to the fence post and irritating others. We agree on most things, but if you sign a contract you need to hold up your end. Period.and it's a feedback loop that has been spiraling out of control for.....30 years.
lol that's why i don't sign contracts
leases are usually not updated and yes, if you've been paying attention YOU CANNOT RENT FROM ANYONE ELSE AND GET THIS HE DOESN'T EVEN OWN THE PROPERTY SO I PREDICT YOUR NEXTYour landlord doesn't require a lease? If not, you're paying rent to one of those slumlords you're fighting against.
What im saying..if you have somewhere to live do itWhy can't I do this lol?
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