Investing in Rental Property

jluck · 05-16-2012, 09:41 AM

The two best tips I have learned.
>Don't rent to family or friends! It just invites awkward and unnecessary problems. Also they seem to feel like on time and full payments are optional.
>Charge a premium and or invest in "better" property's and skip the slum lord route. There are plenty of people looking to rent a house and more all the time with the current foreclosure rates.

I have been involved in the rental business since I was eight or nine years old, My folks have had many rentals and they still continue to be my problem. I have seen some of the grossest nasty things you could imagine (including a suicide) in a rental.....It can be tough.

With decent planning it can be a very lucrative proposition though.

As a side note....with all I have seen I still am trying to purchase another property.....

05-16-2012, 09:41 AM	#11
jluck Way out there Join Date: Jan 2012 First Name: Jared Location: Oregon Posts: 1,289 Trading: (12)	Re: Investing in Rental Property The two best tips I have learned. >Don't rent to family or friends! It just invites awkward and unnecessary problems. Also they seem to feel like on time and full payments are optional. >Charge a premium and or invest in "better" property's and skip the slum lord route. There are plenty of people looking to rent a house and more all the time with the current foreclosure rates. I have been involved in the rental business since I was eight or nine years old, My folks have had many rentals and they still continue to be my problem. I have seen some of the grossest nasty things you could imagine (including a suicide) in a rental.....It can be tough. With decent planning it can be a very lucrative proposition though. As a side note....with all I have seen I still am trying to purchase another property.....