All Forum Posts by: Shelby Andersen

We are in the process of selling our current house. We have lived here for 7 1/2 years. We have a 30 year but have been paying double payments since day 1. Needless to say we don't owe the bank but $30,000 after paying $120,000 and made massive improvements while living here that we are going to list it for $50,000 more than what we paid. Yeah we might have to lower it but it's a starting point. We are buying a different house, once this sells it will wipe out all our loans but the new house. We have a loan on one of our rentals and a vehicle besides the house we are selling. Very excited to only have one loan to deal with soon!

Hey, can you guys from Mason City message me? I don't know how. I wanted your opinion on what to put my house for rent. I know what 3 bedroom, 1 bathrooms go fit in my area. But mine is a 4 bedroom, 3 bathroom and more square feet. Thanks!

Hi, I just joined about a week ago. My husband and I have four SFH rentals. We are paying a loan on just one of them, the other 3 are paid for. We started renting in 2012, got our 2nd house in 2013, 3rd in 2015 and 4th in 2016. Not wanting a ton just maybe 10 total SFH's, but he wants an apartment building. I'm not too interested on that, but time will tell. I do all the screening/managing. I quit my full time job Jan 2016 to stay home with my 7 & 8 year old daughters and now 2 month old daughter. My husband is an iron worker traveling wherever the work is. And because of that, we have been to many states to visit him. When he is home or close enough to come home he does the work/upgrades himself. He just put up a new deck when we had our last daughter and he just put in a new shower last year. Not looking to replace his income, just be able to retire someday on it. I want to go back to work at least part time when my two month old starts kindergarten. I've been reading books on landlording to get more knowledgeable and joined this group for the same reason. I guess that's about it.

I felt like you also. I was working full time 50-60 hours a week, managing our rentals (doing it all myself, no manager), taking care of my small children myself while husband works all over the United States & only home maybe 3 times a year for a few days each time. I was stressed out. We stumbled into our first rental when his oldest son couldn't keep living there, we had to do something with it. We chose to rent it out, not knowing what we were doing. Anyway, that was 2012, now we have four. I felt stretched too thin, so I suggested a rental manager and my husband said no, so I quit my job in 2016. Couldn't be happier now. Yeah, it's still stressful sometimes. I take my 7 & 8 year old with to the lease signings, to the cleaning between or painting in between, someday they will be able to help. I also now have a 2 month old and I'm thankful for the time I get to spend with her, not working that 50-60 hour a week job. I don't forsee my husband quitting his job, I don't see ever having 50-100 rentals. I'd be happy with a total of 10. Just for the extra money, not be too stressed, retire on them someday... I buy gradual so we only have one loan at a time. I'd say keep at it and it will pay off in the end. Maybe not take on as much as you have been.