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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127474  
Subject: Re: Buying for future renting Date: 9/7/2013 7:26 PM
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I guess you had another bad experience as a landlord too, since you got out of it.

Why is there so much distaste for renting out property here? It seems like it could be lucrative.


It can be, but also tiring.

One major bad experience, but because of proper insurance not a financial problem: the house burned. Basically, only the foundation survived. The major cost was because my FIL interfered, and pushed us to use his friends to rebuild. It was a serious mistake. A number of things have required repair/replacement because of their incompetency.

A water line breaking in the concrete floor, termites, and mold were other issues. The mold could have been a lot worse. It was a small house. The bathrooms were back to back and the contaminated wall was isolated.

The property had appreciated to the point where investing the proceeds should be more profitable than renting it. Locally, real estate prices were very high this summer. They might continue to increase, but I believe that they will drop for a while. Eventually, prices will increase, but it probably will be a few years.
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