Quote:
Originally Posted by StefanG
I helped my mother managing property - not in this lifetime again
one bad apple among your renters can ruin everything
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A friend of mine and his wife bought an investment property and rented it out. For the first 5 years it went great because they had back to back great tenants that ended up staying for a while and treated the house nicely. Then they got a tenant who broke the rules and moved a bunch of people in with them, caused a lot of damage, had to be evicted then fought it. It ended up being about a 6 month process to get rid of them then they had to spend another several thousand getting the damage repaired.
They then sold the house and got out of the rental business.