All Forum Posts by: Mark N.A

Depends on location, too.

I've got properties in low-income 'transitional' neighborhoods where various slumlords have let their properties deteriorate badly. The city would LOVE for some investor to come in and bring them up to code.

These are quite usually huge, expensive projects which I want no part of.

I prefer to wait until the bulldozers come in to flatten them.

But for someone just starting out, with time and energy on their sides, this could represent an opportunity. But it ain't no free lunch.

I don't do it with my college rentals because they're already spoiled and feel entitled.

My low-income tenants tend to be 'management intensive' so that rules them out.

However, for the first time I did send a card with a $20 local restaurant certificate to one of my blue-collar tenants because so far they've been good tenants and good neighbors.

But I'm sure I'll be punished for that somehow. . . .

Personally I would try paying them to go first. Either way will cost you but you might save a little in time and stress if they will go willingly.

I'd get the early termination notarized that they both officially signed it. I'd get the original lease back. I'd refund his half of the security deposit and have him sign a receipt (assuming he had done no damages and that she comes up with the extra money). Then I'd change the locks.

And, of course, I'd charge her for all of this.

Rich,

A cynic might suggest that the government is already on top of the problem with the simple solution of inflating the currency.

Not that I (or my hard asset investments) are at all cynical . . . . . .

How far are you from this area? And why is this area better to invest in than where you are now?

I would never place a five or six or more figure 'bet' on some place where I, personally, didn't know the answers.

Which brings up the question of long-distance management . . . but that's another topic.

Seems to me that YOUR insurance company would have a vested interest in this matter.

Try passing this info on.

A few years ago I read an article on a woman who, rather than move to a retirement community, retired onto the Queen Elizabeth II.

College rentals can be great with the right tenants and the right management. Without that it can be an expensive nightmare.

How 'desirable' is your location? Very easy walking distance is key. Without that you start competing with the luxury complexes catering to students sprouting up along the bus routes.

The good news is that if you choose to sell you have three distinct target markets: rich parents buying for their kids, college rental investors, and regular homeowners including the college faculty/staff.

The best thing you can do, Jayme, is to become 'educated', or even better become an 'expert' in whatever investments you are interested in.

There's plenty of money to be made out there, but not by people with mere 'general' knowledge or who depend upon other people's 'guidance'.

This I have learned the hard way.