Wealth preservation,....

[Scott Danforth]

based on renting my house out when I got a divorce as well as people I know that have rental properties, I wouldnt recommend being a residential land lord. I had to evict a paralegal and her sheriff deputy boyfriend for lack of rent, property damage, and stolen property. it took months to get them out.

a buddy of mine owns some commercial property. two warehouse buildings and a corner lot that currently has a Mexican restaurant, a gas station and a car wash....... that is the ticket if you can get it.

me..... im too poor to retire, too fat&ugly to strip

 

[Bondo]

Ayuh,.... In my days of landlording, it was a mixed bag,.....

1st tenant said they were in for the long term, truth was, they wanted a summer waterfront rental, at the long term rent,....
Several were just a total pain in the butt,......
One was a Great guy, that helped me alot with heavy remodeling, but had a mindless CRAZY girlfriend, that had to go,.....
The last guy was Great, rent on time, or early,... Never any complaints, quiet, a perfect tenant,....
Told me he loved the place, would never move, 'n looked forward to paying more rent when the other floor was finished off,....
Some months later, he was found dead on the bathroom floor,....

 

[aspeck]

It is a mixed bag ... I have a tenant right now who is replacing all of MY appliances with new ones because that is what SHE wants. Her dime. She regularly repaints at her expense and just remodeled at her expense (new flooring and some other improvements). Needless to say her rent never changes ... she is paying below the current amount, but she is increasing my value, so win-win. But then there are the other tenants ...ugh!

 

[airshot]

My neighbor has 20 rental houses which I give him help when he needs it. He also has an older lady, been a tenant for over 15 years, always paid on time, never complains, keeps the place nice and mows her own grass ! Still pays the same 450 per month, he never has increased her rent !!

 

[redneck joe]

dad had both on his rental, i spent a summer cleaning up everything in the house. Older next door neighbor talked to him quite a bit, helped him with color choices and such, ended up renting the place until she passed about 20 years later. I still remember getting the mail and seeing her check every month. Marion Rogers.

Bother and I had a rental, in his home city. Tough. Our boy has a house 1/4 mile from us that we are considering buying to rent out. On the fence.


And, no one gets out alive...

 

[DeepCMark58A]

Wealth preservation? Don't carry debt in credit.

 

[redneck joe]

That's mostly weath building.

 

[Bondo]

Wealth preservation? Don't carry debt in credit.

Ayuh,..... I am debt free, the problem is my money in the credit union is worth less, 'n less every month,......
It earns less in interest, than the rate of government created inflation,.....

On the brightside, gold is up over $300. an ounce since I bought in,.....
'n Silver is up over $8.00 an ounce,....

 

[DeepCMark58A]

I do have a mortgage at 2.5% I put over 60% down. 27 years of equity and not paying for toys over time got me my retirement home 10 years early. Not building wealth on the property I am just the live in grounds keeper the place is in a family trust. Best investment made I ever made in property.

 

[tpenfield]

Once I paid off all my debt, (loans, mortgage, etc.) I was able to save money. So, I guess in that sense I was preserving my wealth