Being a landlord has challenges same as any business. I contracted for multi-family companies for a few years and came to the conclusion the people who run them and live there deserve oneanother. After seeing the rental business from both sides and knowing what I was getting into,I bought and sold a few rent houses and made more from them than my 401k and IRA combined. The highest profit by far was buying dumps and renting them to "Guest Workers". I had 3 places in the same neighborhood where I gave an elderly lady,her son and granddaughter free rent in exchange for collecting rent,finding renters as well as kicking them out at her discretion. If she ever skimed funds I can't complain. She rented by the head and collected weekly. Unlike my other rentals,those tenants did 90% of the repairs including material. It was a pleasant suprise to see a new roof or exterior paint I didn't pay for. I somtimes worried the contractor that origionaly bought the material might want reimbursed but they assured me they did it with salvage material which sounded plausiable considering they didn't nessarily match. She asked me to have the water unlocked and turned off once so the rusted line from meter to house could be dug up and replaced. I kept comonication open with the city police and code enforcment which served well for all involved. Code inforcment was usualy understanding with solutions and police were happy to alow latitude on minor issues in view the residents'means of resolution were usualy perminate and less hassel and expense for the city. One thing is certain because I speak from experince at the multi family places I worked. There are no where near need for police at my places compared to where companies do it "by the book"with government rent subsidies. My renters go to work every day while those getting help with rent deal dope and worse which makes bad situations a dayly occurance.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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