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While I was gone....
select-fire
Member Posts: 69,529 ✭✭✭✭
Bought another house to rent that was foreclosed. I knew the previous owner and he just quit paying on it. Made an offer and bingo..got it. Nice Brick 3 bedroom home that needs just a little work..Paint inside, hardwood floors redone. Fired up the outside A/C unit this morning and works fine. Is located right next door to another rental of mine.
Comments
Like a perpetual income machine
Yes and no... Eventually cost exceeds income as the properties age.... You do have to know when to dump it. Mom had some that were wired to 1940's code and just could not update without rewiring the entire house to current code. Oh... and they were in a historic district so you cant just bulldoze...
any new "rides" or upgrades on your collection to go with the new rental