Well, this will be my first official "blog".
Not really sure what all the fuss is about but I'll dive right in.
I'm a landlord. Whoopee! This business is sort've been going on in the family for all my life, literally all of it. My grandmother was a Realtor back in the day when most women didn't work, or at least at this type of job. She was good at it.. She had to be because she and grandad the drunk got divorced-also back when you didn't do that.. But she was really, really good at it. As her business grew she acquired property and began building duplexes for income. She also was into flipping way before whatshisname got on A & E. She would buy a home from someone when you could still assume a mortgage and then clean it up, renovate if necessary and then sell it. Sometimes she just bought something outright and held the note herself thereby insuring a good income for a long time, in fact there are still a couple of mortgages still being paid on.
She was friends with a builder that got into some financial problems and she helped him out by buying 10 more duplexes on several acres of land just down from an air force base. I ended up buying them from her and that's how I got into this business. That was nearly 20 years ago. We're still in the business but some days we question whether we should stay in it. Of course had I kept the original property they'd nealry be depreciated out and the mortgage would be down but hey.. you go where you go..
Being in this business has some perks and some downfalls. Good days are when you can plan on seeing the kid play ball, take a day off for some leirsurly flea mkt shopping, just in general take your time about things.. BAD days are when the water heater bursts and water is everywhere, the heat goes out and it's 30 degrees for th HIGH, people don't pay their rent (those are another days post) and you have to evict, cleaning out a refrigerator from someone leaving it full of food and the powers off, taking up a toilet to get a Sesame Street Ernie in a rowboat out of it.. you get the gist of it.
So, that's what I'll probably talk about. I welcome other landlords to commiserate if they'd like. So, join in, read, laugh..
Have a great day and I hope a Merry Christmas..
Saturday, December 9, 2006
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