Is there any profit left

[Mark Forest]

I guess this is mostly a philosophical question, but it's also objective. I notice many landlords of SFH do things like hire property managers, contractors to do even basic work, and when they renovate they put in top of the line granite countertops etc. Do those of you who do these kind of things actually make a profit?

I do most of my renovations and repairs myself.  I buy my appliances and other building materials at Habitat for Humanity. I have rent checks sent to a PO box and I follow up with deadbeat tenants on my own. I personally do all my accounting on QuickBooks. I do my own evictions. I show all my vacant properties myself. I interview all my prospective tenants personally.

Most of my SFH are in blue collar neighborhoods with one that is on the higher end. The high end house does have comprable high end things. Even the used stuff I buy is nice, but not perfect.

I have been critisize here for my methods, but I save money and all my houses cashflow positvly. One main thing I hear is that landlords spend their time "doing deals". Are you all really that busy getting new houses or is that just a cliche? If you are, great I'll admit I have been doing it wrong and hire out more work. But are those of you who spend all your time doing deals instead of working on your houses really making money?  Thanks, just opening up a discussion.

[Deanna McCormick]

@Mark Forest Why would someone criticize your work as a self employed Property Investor / owner.. What you do to make your investment work is what's required, your ability to do what you can ,would and should, leave some of the others speechless or mute on BP..  The ability to know how your property stacks up for rent against similar spots in the same area is key to keeping full.. 

Half or more than  half of the people it seems, on this site probably haven't even read their own leases.. they plop down money for a house or duplex and say WOW I'm a landlord I"M gonna make a bundle... they hire everybody to do their jobs and sit back and complain here on BP how it's ?? not happening .. how do I do this .. or even better is WHY is my PM that I hired ripping me off.. They have no clue.

You have the game board in my opinion right on track and I  say FABULOUS JOB.. for the level of investment and business you are in.  My parents ran a very profitable rental business for over 40 years,, they were meat and potato style apartments that were always full, they did all their own work, mowing, shoveling, painting, court filing, rent collecting and bookkeeping.. They took pride in using the profits from their rentals in being able to GIVE to their charities.. But they ran a business and believe me if someone was behind on rent they kept after them till they paid,, My dad always felt that tenant that didn't come to him first to ask for grace in being late with rent was like a thief.. but for those that said,, I'm trying to catch up if you could only work with me for a bit .. My dad would write up payment plans,, and for the most part those tenants made good on what they owed and if not the agreement said,, dad could come in and change the locks and they agreed to be out by noon.. 

So good job, shopping Habitat and finding deals.. doing your own court work.. and managing your own business. Some  wish they knew how..