Investor · Boise, ID · Member since 2011 · 1k+ posts · 736 votes
11y
Complacency, and ignoring of details. It takes resolve to stay on top of things daily, and to do the little things to stay on top of tenants, maintenence, and cash flow. As with every real estate owner, little issues can easily creep into big issues if unchecked and ignored. As an agent, I frequently work with landlords that want to sell because they have let too much go unchecked for too long, and they give up when they see how their property, and quality of tenants, have deteriorated. It keeps me on my toes with my own investments...I don't ever want to be in the same boat.
Investor/Accountant/Builder · Meno, OK · Member since 2014 · 1k+ posts · 918 votes
11y
Thermo-nuclear war. Or the mass disappearance of renters, aliens. Or the election of Obama for a third term. Or the continued expansion of the EPA lead paint rules. There are so many reasons to fear.
I have a brother-in-law who keeps telling me the business sky is going to fall for many reasons, including the price of oil, lack of water,......you name it.
I just keep on trucking, buying, renting, selling, building. What else am I to do? Sell out and move to the hills.
Complacency, and ignoring of details. It takes resolve to stay on top of things daily, and to do the little things to stay on top of tenants, maintenence, and cash flow. As with every real estate owner, little issues can easily creep into big issues if unchecked and ignored. As an agent, I frequently work with landlords that want to sell because they have let too much go unchecked for too long, and they give up when they see how their property, and quality of tenants, have deteriorated. It keeps me on my toes with my own investments...I don't ever want to be in the same boat.
That's a good point Jonna. Perhaps I'll begin working the eviction filings in my marketing plan.
Thermo-nuclear war. Or the mass disappearance of renters, aliens. Or the election of Obama for a third term. Or the continued expansion of the EPA lead paint rules. There are so many reasons to fear.
I have a brother-in-law who keeps telling me the business sky is going to fall for many reasons, including the price of oil, lack of water,......you name it.
I just keep on trucking, buying, renting, selling, building. What else am I to do? Sell out and move to the hills.
I know what you mean Arlan. I have no interest in packing up and going home. At the same time, I'm interested to hear what others are doing specifically to overcome those risks that they perceive.