See my post 31 about a property management company. I know I have been very fortunate and that I’ve never had a bad tenant in the years that they have managed my properties for me, but I do absolutely nothing but collect rent each month. And the property is appreciating at 6 to 10% in value each year.
I’m sitting on a gold mine.
“I know I have been very fortunate and that I’ve never had a bad tenant in the years that they have managed my properties for me, but I do absolutely nothing but collect rent each month. And the property is appreciating at 6 to 10% in value each year.”
We built an upscale apartment complex in 2006. We do anal criminal and background checks and require a high credit score. We have awaiting list 2 years. Most of our renters have been there 5-12 years. We keep the place immaculate and do regular maintence-paint wood door frames every year etc. Yes it cost more money but not having to find new renters is a blessing.
Just paid it off last year. I don’t have a lot saved for retirement but have these and a paid off office building I collect $12,500 per month rent-so that is my retirement. They are also in a good safe area so I an sell them if need be.
I do all the grass cutting etc and most small maintence