So I get the rent from one of my tenants today in 10s and 20s, all $1,300 of it. Odds this guy is dealing?
Is the whole being a landlord thing a drag or are you making some serious cash? Besides having to deal with potential drug dealers of course
Currently have most properties leveraged at 75 percent so there's no serious cash involved. Enough to pay the notes on them with some extra each month, still in the investment stage though. Really only taking cash out for fixing stuff and buying new properties since it's basically a side business at this point. The work is actually pretty minimal until a tenant moves out, which I try to hedge by having lower rents than comparable places. Long-term renters are awesome, seldom have to worry about them.
06wildcat....could you see if he can get us some yay before you bust his ass?
Negative. Ran into his wife this morning and she asked what I though about the rent payment. Apparently he won some July 4th home poker tournament.
