Better Than Drugs?

They say the two happiest days in the life of a boat owner are the day his wife lets him buy it, and the day he sells it. The same can probably be said about the owners of small multi-unit rental properties.

     When I bought the house pictured to the right my broker said it was a "cash cow." Well when I sold it 10 years later I could attest that it was in fact a "cow."

     When you buy in "war zone" you can certainly make money and we did but more than that you get experience in landlording, sometimes much more than you wanted. Quick list of experiences in this property include:

• several Burglaries and kicked in doors,
• a home invasion,
• 4 Evictions, including:
  • a brothel
  • a Pot farm, and
  • people who just din't want to pay,
• a murder across the street that emptied the building of tenants within a week,
• all of the copper being stolen one winter day, and
• a river that flowed through the basement in heavy rain,

In this blog I'll tell some of those stories and talk about lessons I've learned while I've been a landlord in the 2nd largest city in New England.