2nd anniversary; 33 units; Ty Bigger Pockets!
Next week will mark the 2nd anniversary of our buy and hold rental business. My husband and I decided to start the business when unexpected medical expenses derailed our early retirement plans.
In the last two years we have completed three deals for 33 units in 11 different properties about half of which are “affordable housing.” We have (mostly diy) renovated eleven of our properties and we currently have 4 additional renovations in progress. In the last two years, we’ve had two deaths, one tenant go to jail, tenants hearing 'voices', tenants with restraining orders, and one eviction. We have had a seller back out on a deal right before closing. We’ve had trees fall on cars, furnace failures, and toilets run up hundreds of dollars in water bills. We’ve had pit bulls, bees, bats, bedbugs, and mice. We’ve had the Loud complaints: loud sex (GO DADDY!), wild parties, LOUD: children, boyfriends, furnaces, refrigerators, and music. We've had the poo (and the pee): dog poo, alpaca poo, cat pee, and main sewer stack replacements. We had the parking, parking, and more parking complaints. And we've also had one tenant with 'unevenly baked cookies' THE HORROR...
We’ve also made MONEY, had fun, and met some great tenants.
Through it all, bigger pockets has been there for us. What a resource this site has been! I don’t know if I would have had to confidence to forge ahead as we have without the insights and advice available on this forum. Thank you bigger pockets!
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Congrats on your success!