The project dragged on for over a year, with constant headaches, budget overruns, and stress.

The project dragged on for over a year, with constant headaches, budget overruns, and stress.

TL;DR* Aggressively pushing 'maintenance' and for the most part for things not requiring any maintenance* In-house maintenance rates are eye-watering, way higher than what you'd see in even most expensive markets* Maintenance does not require owner's approval - RL reserves decision what to do when, cheaper plans have higher limits and all are at RL's discretion * Refuses to manage in many parts of townLonger versionSigned up for their service after a few conversations over the phone - owner stressed investor-friendly approach.

After a year of stress and headaches, he sold it off and swore never to invest in an area he didn’t know again.From what I’ve read in the Wall Street Journal, investing locally gives you a huge advantage because you understand the market firsthand.

The project dragged on for over a year, with constant headaches, budget overruns, and stress.

The letter states he has stress.

Others follow the 1% rule, calculating annual maintenance costs at 1% of the property value.Property managementHiring a property manager can help to eliminate the stress of residential real estate investing.

He was able to screw someone over for some money and keep The Bank out of foreclosure the other month, then they build an illegal bar and threw a Poker Championship party "For Charity" bullsh*t to get some money back in to pay bills.   

I can’t stress enough how important it is to stay focused and avoid some of these common pitfalls early on.Quick thoughts:Find the right Realtor – Make sure they’ve got some skin in the game with househacking or investment experience.Budget = Game Plan – That pre-approval is your marching orders.

I would replace it, in my personal opinion, for quite a few different reasons—happier tenants, less stress on you, etc.