(07-02-2019, 06:36 AM)NilesMike Wrote: Most people who struggle with being landlord did not realize it is a PEOPLE business. If one is not good with people they will chafe at being a landlord.
Broker, appraiser, landlord successfully since 1987. Do it all over? No, I would go heavier in the DGI direction.
Good luck.
Mike is correct. It is absolutely about customer service. (and not getting conned with excuses). If I was paying VBIN $3500/mo rent, he damn well better be taking care of my problems with a smile when it inevitably happens. If you can't, then you hire a property manager and give up some of the profit.
I have a few friends that did the multi-family rental in lower income areas. They definitely made more money faster, and I was NOT at all jealous. No chance I want any part of that if I have a day job.
I used to tell my friends............ "Everybody that rents does not suck, but everybody that sucks has to rent".
You gotta be somewhat selective.