I have two rental houses. In the past 7 years they have been rented all but about 15 months between the two of them. That is about 89% of the time. Had a couple of morons in one of them but for the most part the road hasn't been too bumpy. I do a criminal and credit background on them. If you don't want to heat it this winter I have just shut down the house a couple of times. No heat, bled all the water lines, poured antifreeze in toilets, sinks, etc with no ill effects to the house. Nationally the last 4 or 5 years have been some of the worst in a generation for landlords/rentals. There has been double digit % drops in rental prices and lots and lots of available housing for renters to choose from. Owners/landlords were forced to rent to some very shady tennants in order to keep the bills paid. According to a couple of articles I've read the next couple of years will see the rental market turn around in favor of owners. Some areas of the US will see up to 20% increases in rents in the next couple of years. I am somewhat encouraged about the future of my rentals and am hoping that in the next few years I will finally be able to make the places cash flow - ie carry themselves. Being a landlord isn't for every one but it does have some advantages.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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