Quote:
Originally Posted by Barefootsies
My old business partner owns 1 Quad, plus something like 35-40 single family homes, and a half dozen car washes. He prefers the single family homes over apartment buildings. He said it is a lot less grief, typically families, no bitching over noise, parking spots and what not.
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Your friend is a smart man. I happen to live in an area that can get away with short term rentals on dupes to seniors. Think South FL. I happen to run into more problems with the long term tennants.
No problem, it's the nature of the beast. I knew it getting into it, and I still deal with it every now and then.
If you consider buying property to rent, my best advice would be to let the initial tenants do their thing. If they happen to keep the joint nice? Bonus. Rent again... rinse and repeat until somebody finally sneaks a pet in, pisses on the carpet - or just plain old have messy kids.
At that point? hire a tile or hardwood floor guy to come in and do the whole thing. Expense up front, save a ton of money in the long run.
This is coming from a guy that for about 5 years thought he needed to replace carpet for new tenants so it felt "homey".
