Happy Days Folks....!!!!

[brin]

This morning at 11:45 AM I closed on the sale of the last rental property my Mrs. and I owned...after 38 yrs. I am totally out of the rental business..It has been good to us...but not without the travails ...Where are the drum roles...it has not sunk in yet that there will be no more calls about everything you can imagine that can go wrong with a property ...no more tenants sneaking out in the night....Happy days are here again...Those of you who have rentals know how happy I am...:dance1:

 

[J F]

Congrats Bob, must be a helluva feeling. :drink: While I've always imagined it would be great to own rental property, I've also thought about all the headaches associated with it. Good job gettin' out alive. :laughing:

 

[MoKelly]

Glad you are happy. It reminded me of the day I bought our first boat. I took delivery and the saleman said something like --- "This will be the happiest day of your life. The second happiest day will be the day you sell the boat". IN many respects he was correct.

MoKelly

 

[brin]

Congrats Bob, must be a helluva feeling. :drink: While I've always imagined it would be great to own rental property, I've also thought about all the headaches associated with it. Good job gettin' out alive. :laughing:

I have experienced the good , great ,bad and evil tenants from Hades...It has been a trip...rewarding as a whole , that's for sure , but no one should own rental property if they are thinking it is absentee or that no one will absolutely destroy the property and leave you with $10K or more of damage... I got out ahead and alive...LOL

Glad you are happy. It reminded me of the day I bought our first boat. I took delivery and the saleman said something like --- "This will be the happiest day of your life. The second happiest day will be the day you sell the boat". IN many respects he was correct.

MoKelly

Great analogy Mo.....I have had boats and that is just as true for rental properties...pride of ownership followed by pride of salesmanship to get the heck rid of it....LOL

 

[dusty3030]

Oh come on, you will miss digging some random fat ladies hairball out of a shower drain.

 

[J F]

 

[creekbend]

Congratulations. That is one less thing to take care of. Enjoy your retirement with your Wife and Family. Best wishes.

 

[Western]

Now just dont go into the "hoss" business:laughing: I used to help a friend when I was in college, he worked for a guy that owned quite a few properties. I was shocked at some of the "stuff" that had to be fixed. Not for me "brutha" They expect prompt maintenance, but how many do you have to chase down for the rent $$?

 

[ultrarunner]

I started with Residential Rentals a little over 30 years ago and slowly transitioned to commercial which is now the majority.

Make no mistake... owning Residential Rentals in the SF Bay Area is a second job...

Seen many come and go seeking their fortune with rental property and the majority crash and burn...

Still looking for that ideal forever spot and till then... I imagine I will stay in the business...

Have 3 college students moving out Saturday... seem liked good kids and have been so far... just know students are almost always short-timers.

Brin... I don't know how it is where you are... my original rental agreement was two pages consisting of a one lease and a one page condition and inventory... now it is 32 pages with all the mandated forms required.

 

[brin]

I started with Residential Rentals a little over 30 years ago and slowly transitioned to commercial which is now the majority.

Make no mistake... owning Residential Rentals in the SF Bay Area is a second job...

Seen many come and go seeking their fortune with rental property and the majority crash and burn...

Still looking for that ideal forever spot and till then... I imagine I will stay in the business...

Have 3 college students moving out Saturday... seem liked good kids and have been so far... just know students are almost always short-timers.

Brin... I don't know how it is where you are... my original rental agreement was two pages consisting of a one lease and a one page condition and inventory... now it is 32 pages with all the mandated forms required.

Brin... I don't know how it is where you are... my original rental agreement was two pages consisting of a one lease and a one page condition and inventory... now it is 32 pages with all the mandated forms required.

Yep Ultra; when I first started in the rental business in 1975 all that was required was a one page lease and a legal description...so two pages ...Now I know we have a small book of forms...the lease alone is 9 pages, then the lead paint disclosure, radon disc, Move in and Out documents , Landlords disclosure etc...all total 30 to 36 pages depending on age of property...all forms have to be on your computer where we used to be able to just buy the form set forms....and evicting a bad tenant used to be easy..took about 10 days back then...now the tenant can tie you up for months....I wish you success with your commercial rentals....that seems a good move.