Charlotte, NC · Member since 2016 · 82 posts · 41 votes
My wife and I are planning to get a second vehicle. We've been able to get by with one to save more money. We're planning to buy our first rental property asap and plan to manage it ourselves, at least to start. I've been thinking that getting a pickup could help our landlord duties since we might have to move couches, washing machines, etc sometimes. What is your experience if you manage your own properties? Would you say a truck is a "need" as a landlord? Thanks.
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
8y
@Josh Lyons I used to be the land lord with the F150, and one of my goals for 2018 was to sell the truck and buy a small Toyota. I accomplished that goal early on in 2018, and have been very happy. The truck was enabling me to do work on properties when that was not the highest and best use of my time. I now am forced to find ways to have my contractors use their trucks to take care of the same issues I thought were "my job".
I think this is a good counter point to the traditional way of looking at land lording. I recently had an appliance die in my Lyons property. If I had my pickup, I would have been there getting a used appliance. Instead, I had to find a really cheap and reliable used appliance guy! Problem solved. The same goes for doing unit renovations. In 2017, I spent tons of time picking up tile, kitchen cabinets, bath tubs, etc from Home Depot for my contractors. As I start projects this year, I will have to find creative ways to not waste my personal time doing these things!
Real Estate Broker · Greer, SC · Member since 2013 · 548 posts · 271 votes
8y
When I started about 20 yrs ago my vision of a landlord was a truck and trailer. Tools and lawn equipment ready to handle my tenants needs. Today, I don't own a lawnmower. Somewhere around 50 doors my day to day work changed. I was writing checks instead of riding the lawnmower. Next thing you know, 100 doors and I'm just signing checks. About 6 years ago the CPA said to go buy something by end of year. So plattium F150 had We Buy Houses on back of it. Today, I'm reading PandL's to see what checks someone else sent out. I'm waiting on the new 2019 f150 limited with Raptor engine to be on the lot and my taxable income projection. Might just have to reduce my tax burden. I didn't focus trucks to get a new truck. I do deals. God just blessed me with a nice truck.
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
8y
@Josh Lyons I'll have to say that to pick up truck is probably the worst vehicle you could buy. Nothing's covered it gets rained on you can't secure.
I bought a Honda Element and took out the back seats it holds as much as a pickup truck it's covered secured and best of all it has Japanese reliability and gas mileage. Like only paid $13,000 for a two-year-old element. But they don't make him anymore so it's hard to find to much longer. They're still are good and cheap elements used.
If not an element then it least get a panel van that gets good gas mileage. And open pick up truck is the worst and you never need to carry a thousand pounds of gravel but once every 5 years. Rent A Home Depot delivery truck for 60 bucks instead of only a pickup truck.
Residential Real Estate Broker · Aurora, IL · Member since 2017 · 96 posts · 45 votes
8y
I think that getting a truck is a great idea, but, it's kind of a silent way of committing to the fact that you will not outsourcing your property management. That's not a good idea because it will prevent you from scaling.
So, I suppose it comes down to whether you want to scale or be the "hands on" landlord.
Rental Property Investor · Morris County, NJ · Member since 2017 · 130 posts · 35 votes
8y
Great question @Josh Lyons! Personally I did the Home Depot rental truck for awhile and I found that to be a inconvenience but it was definitely cheaper in the long run to go that route. If you calculate the maintenance, gas, and everything else that goes into the purchase of a truck, it is actually a useless expense. But I still bought a used Toyota Tundra because I like trucks!!
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
8y
Nope. Except for drywall and ladders. They even make fold up ladders these days.
One thing is that our cars take a beating with being a landlord, so I have an older beater car.
I eventually will get a truck or van though. Because it is helpful to keep long term supplies in the vehicle. Don't store your power tools in your car..
Contractor · San Diego, CA · Member since 2018 · 55 posts · 17 votes
8y
@Josh Lyons
It all depends how handy you want to be. You may just need it for the one or two weeks out of the year when someone moves out. Others , a truck isn’t a prerequisite to becoming a LL.
If you were to get one, definitely get a used one.
I’m a commercial general contractor by day; so my company bought me my truck. And with a company truck, I use it for hauling or moving only a few days out if the year.
I assume you’ve listened to the “vacuum your truck” BP episode already?
Rental Property Investor · Closter, NJ · Member since 2015 · 884 posts · 722 votes
8y
@Josh Lyons Yes, some sort of utility vehicle is preferable. I drive a Jeep Wrangler Sport. It holds my toolbox, saws (for cutting branches), step ladder, and assorted other items needed to maintain my properties.
Rental Property Investor · Union, ME · Member since 2018 · 161 posts · 104 votes
8y
trucks are great! Get one if you can afford it! I can't, so I looked to other options. I got a 2012 Jeep Liberty and a small trailer, and just that change has been night and day different for me. Truck would be better though!
Property Manager · San Antonio, TX · Member since 2016 · 61 posts · 31 votes
8y
I have kids, so I have a Honda Odyssey minivan. I've been able to use that thing for handyman work and property management just about as well as a truck in most cases! :)