Rental Properties

[teachercd]

I asked once before but any of you guys own rental properties? If so, what do you like or dislike? What kind of properties do you like to rent out?

 

[irieboy8]

1. i do with my mom.. we on a half arce house right on da ocean... its in a very nice location on the beach on a great side of da island

2. we are actually not renting it for a year as it needs to get repainted, get some cosmetic stuff done and we were just tired of people f'ing on our sheets all the time.. i had to buy new ones

3. house makes f'ing bank!!

4. people sometimes trash da house (rule number one.. never rent to local 808 people!! sorry boys!!)

5. there is always some sort of problem with a beach house whether it be cosmetic...(takes a pounding from the salt).... people saying the internet is broken or some sh#t... or someother bullsh#t

6. place makes bank so its fine..

7.. i enjoy going out there with my friends and family and taking random chicks out there to bone....

 

[teachercd]

1. i do with my mom.. we on a half arce house right on da ocean... its in a very nice location on the beach on a great side of da island

2. we are actually not renting it for a year as it needs to get repainted, get some cosmetic stuff done and we were just tired of people f'ing on our sheets all the time.. i had to buy new ones

3. house makes f'ing bank!!

4. people sometimes trash da house (rule number one.. never rent to local 808 people!! sorry boys!!)

5. there is always some sort of problem with a beach house whether it be cosmetic...(takes a pounding from the salt).... people saying the internet is broken or some sh#t... or someother bullsh#t

6. place makes bank so its fine..

7.. i enjoy going out there with my friends and family and taking random chicks out there to bone....

I have this feeling that we would get along really well!

 

[Comish]

I asked once before but any of you guys own rental properties? If so, what do you like or dislike? What kind of properties do you like to rent out?

I tried the rental route a long time ago. It seemed to be a no-brainer. The rent makes the payments and ...viola.........soon you have a property financed by someone else. Buy a few more and get wealthier!

BUT.........unless you are skilled enough to to some plumbing and carpentry work and basically be "on call 24/7"..........it can kill you. The other factor is that the courts/law have given renters so many rights, you can easily get screwed.

I got out before I lost my a$$.............

 

[teachercd]

I asked once before but any of you guys own rental properties? If so, what do you like or dislike? What kind of properties do you like to rent out?

I tried the rental route a long time ago. It seemed to be a no-brainer. The rent makes the payments and ...viola.........soon you have a property financed by someone else. Buy a few more and get wealthier!

BUT.........unless you are skilled enough to to some plumbing and carpentry work and basically be "on call 24/7"..........it can kill you. The other factor is that the courts/law have given renters so many rights, you can easily get screwed.

I got out before I lost my a$$.............

Can I ask what kind of issues you ran into?

 

[killer cacti]

Irie, how much does a week at a place like that run? Feel free to pm me if private.

 

[Stumpy1]

I own several rentals and have for a few years. They are a great investment if you have the time and patience for it. A lot of people shy away from doing them because they think it is a pain in the a$$ but it really isn't if you are picky on who you let rent from you.

 

[Comish]

I asked once before but any of you guys own rental properties? If so, what do you like or dislike? What kind of properties do you like to rent out?

I tried the rental route a long time ago. It seemed to be a no-brainer. The rent makes the payments and ...viola.........soon you have a property financed by someone else. Buy a few more and get wealthier! BUT.........unless you are skilled enough to to some plumbing and carpentry work and basically be "on call 24/7"..........it can kill you. The other factor is that the courts/law have given renters so many rights, you can easily get screwed. I got out before I lost my a$$.............

Can I ask what kind of issues you ran into?

I'm probably not a good "model" for the average potential landlord. For one thing, outside of basic grunt work like lifting, hauling, scraping, painting and general repairs..........I had to have electricians, plumbers, etc on speed dial since I am utterly unskilled for those types of specific work. And even though I tried to be cautious with potential renters, legally, you really have to be open to just about anyone. Consequently, I was burned a few times, but the final one drove me out. She was utterly amoral; bereft of any semblance of conscience and a total scum. (I hope that fairly covers it). After patiently putting up with excuses while she ran up 6 months rent and trashed the house, I tried to fairly negotiate with her but she knew her "rights". Finally, the Sheriff told me to put up an eviction notice and then wait (I think 30 days....It was a long time ago), and then she was supposedly officially evicted...........but she wouldn't leave. The sheriff told me I could move her "things" onto the front lawn, but if she didn't claim them, the city would and CHARGE me for the service. (Did I mention that the house was virtually destroyed inside? Or that rather than put her infants dirty diapers in the garbage, she just tossed them in the closet and closed the door until it was full?). Anyway, this is resurrecting bad memories. Like I said, I am not a good example here, but I cleaned up that place, sold it for a song and learned a lesson.

Good luck to you......

 

[teachercd]

I asked once before but any of you guys own rental properties? If so, what do you like or dislike? What kind of properties do you like to rent out?

I tried the rental route a long time ago. It seemed to be a no-brainer. The rent makes the payments and ...viola.........soon you have a property financed by someone else. Buy a few more and get wealthier! BUT.........unless you are skilled enough to to some plumbing and carpentry work and basically be "on call 24/7"..........it can kill you. The other factor is that the courts/law have given renters so many rights, you can easily get screwed. I got out before I lost my a$$.............

Can I ask what kind of issues you ran into?

I'm probably not a good "model" for the average potential landlord. For one thing, outside of basic grunt work like lifting, hauling, scraping, painting and general repairs..........I had to have electricians, plumbers, etc on speed dial since I am utterly unskilled for those types of specific work. And even though I tried to be cautious with potential renters, legally, you really have to be open to just about anyone. Consequently, I was burned a few times, but the final one drove me out. She was utterly amoral; bereft of any semblance of conscience and a total scum. (I hope that fairly covers it). After patiently putting up with excuses while she ran up 6 months rent and trashed the house, I tried to fairly negotiate with her but she knew her "rights". Finally, the Sheriff told me to put up an eviction notice and then wait (I think 30 days....It was a long time ago), and then she was supposedly officially evicted...........but she wouldn't leave. The sheriff told me I could move her "things" onto the front lawn, but if she didn't claim them, the city would and CHARGE me for the service. (Did I mention that the house was virtually destroyed inside? Or that rather than put her infants dirty diapers in the garbage, she just tossed them in the closet and closed the door until it was full?). Anyway, this is resurrecting bad memories. Like I said, I am not a good example here, but I cleaned up that place, sold it for a song and learned a lesson.

Good luck to you......

Oh man, well I can see why would hated it! Dude, that sucks!

 

[irieboy8]

Irie, how much does a week at a place like that run? Feel free to pm me if private.

you know it totally varies....i give da bro rate out to a lot of people... friends stay free of course (but then usually im out there when they are too) so it dont matter... there is a wide variety.... our house is pretty nice for a beach house... fairly new (less than 10 years).. full kitchen... washer/dryer/fridge etc.... 3 bed rooms but sleeps about eight due to lots of sleeping options... f#*k im rambing the point it the person next door rents his house out too but its a f'ing dump... he charges 825 for 3 nights.... 1750 for the week....now the guy next door to him built a f'ing PALACE.... huge!! doesnt even fit into the whole vibe on this stretch of coast... so prices vary depending on what you want..... but its still pricey...now unless if your thinking about coming to oahu want to cruise on kahuku/north shore for while let me know..... usually just charge for cleaning fee (and promise you aint gonna f#*k my sh#t up)... then the price jumps up....

vrbo and homeaway are two websites you can check out prices..... we took our page down for now since it cost $$ a month to advertise on the site and since arent renting for a year makes no sense....

 

[Hingle McCringleberry]

Our family had a 4 plex in Hastings years ago. We tried to rent to older widows. You need to be a really good judge of people. We had a woman that would feel hot, and crank the AC down, then she was cold and crack it up. She would burn out the AC compressor once a summer. You need to be on top of the crap, every Saturday in the summer, we would spend a few hours working on it, painting, weeding, and other odds and ends. If you have a note on the thing you dont make to much money, if we lost someone for a month it took a around a year to make that money back.

My folks moved, and it became to much much of a hassle, we made a little money. Long term selling at that point was the best idea, the apartments were getting worn out, and would of needed a lot of updating to keep up with modern places that have been built.

 

[Stumpy1]

I asked once before but any of you guys own rental properties? If so, what do you like or dislike? What kind of properties do you like to rent out?

I tried the rental route a long time ago. It seemed to be a no-brainer. The rent makes the payments and ...viola.........soon you have a property financed by someone else. Buy a few more and get wealthier! BUT.........unless you are skilled enough to to some plumbing and carpentry work and basically be "on call 24/7"..........it can kill you. The other factor is that the courts/law have given renters so many rights, you can easily get screwed. I got out before I lost my a$$.............

Can I ask what kind of issues you ran into?

I'm probably not a good "model" for the average potential landlord. For one thing, outside of basic grunt work like lifting, hauling, scraping, painting and general repairs..........I had to have electricians, plumbers, etc on speed dial since I am utterly unskilled for those types of specific work. And even though I tried to be cautious with potential renters, legally, you really have to be open to just about anyone. Consequently, I was burned a few times, but the final one drove me out. She was utterly amoral; bereft of any semblance of conscience and a total scum. (I hope that fairly covers it). After patiently putting up with excuses while she ran up 6 months rent and trashed the house, I tried to fairly negotiate with her but she knew her "rights". Finally, the Sheriff told me to put up an eviction notice and then wait (I think 30 days....It was a long time ago), and then she was supposedly officially evicted...........but she wouldn't leave. The sheriff told me I could move her "things" onto the front lawn, but if she didn't claim them, the city would and CHARGE me for the service. (Did I mention that the house was virtually destroyed inside? Or that rather than put her infants dirty diapers in the garbage, she just tossed them in the closet and closed the door until it was full?). Anyway, this is resurrecting bad memories. Like I said, I am not a good example here, but I cleaned up that place, sold it for a song and learned a lesson.

Good luck to you......

We are very selective on who we rent too. We will run credit checks and call references for info about the potential renter. We will also drive by the current residents of potential renter and look at how they keep things. All of this is legal and does take time but it is something that should be done if you are investing money into rentals.