We had exactly ONE experience being landlords. We were in an investment group with six others and had to take back a rental house that had gone to foreclosure on the first (we held the second). We brought the first current, cleaned up the place and got a tenant. He paid a couple of months and then because a squatter. In Santa Cruz County, CA, the tenants have ALL the rights. It took us six months to get the sheriff to evict him; not long before the sheriff showed up, he skedaddled. It took us a couple months to clean up the messes he left behind and replace all the fixtures he had stolen.
Thank God it didn’t turn into an Atlanta situation.
At SOME point I hope the nation returns to law and order.
You're going to be disappointed if you're waiting for the nation to correct itself through "proper" channels.
A friend of mine has a similar story. He rented a home to a university professor. Can’t get much safer than that, right? Well, after a few months the professor stopped paying rent. My friend finally evicted him. But it took months.
Oh, and before the professor left he mixed up some concrete, and poured it down all the drains. My friend is still trying to collect on that.
My takeaway: If you want to invest in real estate, invest in a real estate trust. As for me, I’ll stick to S&P 500 index funds. Less reward, maybe. But also less headaches.
It won't, that's a pipe dream. And I friggin' wish it wasn't, but here we are.
I’m really sorry you went through that but that’s where we as a country are now.
We won’t be voting our way out of this. Time to water the Tree of Liberty.