Mike Eiler

50 influence

Colorado

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IM:
Profiles:

A journalist by trade. If I stay in the newspaper business, I'll be an unemployed journalist soon. So I'm trying to wean myself off the daily grind until I can live with less worry about layoffs and ultimately go part-time or flex-time to actually enjoy life a little instead of grinding my soul away in this office. We'll see.

Experience

I am renting a condo in Phoenix -- I bought it to live in at the height of the market, 2005, and then had to move out of state for a job. So I'm an accidental landlord. That's not going so well, but I'm just trying to hang on for a little bit till I can sell it and not take too big a hit. Meanwhile, the tenants are making the mortgage payments and aren't destroying it too badly this time around.

I also inherited my grandmother's modest house in Missouri, which, since it was owned free and clear, was a nice bit of rental income every month (about $700). Ultimately, managing the property from out of state became too difficult, and after my grandmother died, I sold it.

Real Estate Goals

Now I'm looking for something more realistic, something more manageable. I like the idea of owning multi-family properties for the long-term and managing them myself until I have enough to justify a property-management company.