question about rental being right next door

[Greg P.]

Here's the deal. My mother passed away a little over a year ago. I now have her house to sell or rent. I've always wanted to try landlording and now I have an opportunity. The problem is it's right next door to me. Some may say that's great you can keep an eye on things. My concern is that the tenant will constantly need something "looked" at simply because I am so close by. I don't want to sell the house because i won't have as much control over who is living there. Remember right next door. Just looking for people's thoughts on this and any concerns that I may not have considered. Thanks.

[Chris Masons]

Hi Greg,

I owned a 2 family that was right across the street from me. I loved it for the convenience to manage it. If you get a PITA tenant no matter where you live they will be a pest. I wouldn't let the location deter you. Just focus on getting a good tenant in there and make sure you have a bulletproof lease in place, then sit back and collect rent and enjoy!

I think owning investment on same street as you are living is a great thing.

good luck!

chris