"dpb" wrote

Ain't enough money in the world to get me to be involved in rental
property if I had to do _anything_ on the maintenance aspect as being
discussed in this thread...

True on real rental properties. We rented two houses to four different
Police Officers, two to a house. Rented them for two years. They wouldn't
change a light bulb or pick up a beer bottle, and there were thousands.
But, they did pay their rent on time.

Then we decided on vacation rentals. House payments were about $700 a week.
We now get $300 a night, $1700 a week, $3900 a month. Plus $100 cleaning
fee for each group, which we just pass along to the two lady team that
cleans the house.

When you get those rates, the maintenance takes on another dimension. And
the people who stay are a totally different class of people. In three years
on two houses, we only had one bad group, a bunch of frat rats that came for
the poker tournament.

Steve

SteveB wrote:
"dpb" wrote

Ain't enough money in the world to get me to be involved in rental
property if I had to do _anything_ on the maintenance aspect as being
discussed in this thread...

True on real rental properties. We rented two houses to four different
Police Officers, two to a house. Rented them for two years. They wouldn't
change a light bulb or pick up a beer bottle, and there were thousands.
But, they did pay their rent on time.

Then we decided on vacation rentals. House payments were about $700 a week.
We now get $300 a night, $1700 a week, $3900 a month. Plus $100 cleaning
fee for each group, which we just pass along to the two lady team that
cleans the house.

When you get those rates, the maintenance takes on another dimension. And
the people who stay are a totally different class of people. In three years
on two houses, we only had one bad group, a bunch of frat rats that came for
the poker tournament.

Diff'rent strokes...I want nothin' to do with it, personally. I'll make
my money other ways, thank you.

--

"dpb" wrote in message ...
SteveB wrote:
"dpb" wrote

Ain't enough money in the world to get me to be involved in rental
property if I had to do _anything_ on the maintenance aspect as being
discussed in this thread...

True on real rental properties. We rented two houses to four different
Police Officers, two to a house. Rented them for two years. They
wouldn't change a light bulb or pick up a beer bottle, and there were
thousands. But, they did pay their rent on time.

Then we decided on vacation rentals. House payments were about $700 a
week. We now get $300 a night, $1700 a week, $3900 a month. Plus $100
cleaning fee for each group, which we just pass along to the two lady
team that cleans the house.

When you get those rates, the maintenance takes on another dimension.
And the people who stay are a totally different class of people. In
three years on two houses, we only had one bad group, a bunch of frat
rats that came for the poker tournament.

Diff'rent strokes...I want nothin' to do with it, personally. I'll make
my money other ways, thank you.

The bulk of our investments is in first deeds of trust through a gentleman
my wife went to high school with. Very high rates for short term deals.
Loans secured by real property. Still, it's hard to ignore a cash cow like
a vacation rental when lots of people who come to Vegas pay cash. The vig
on hard money lending is good, but cash is always handy, too. For SOOOOO
many things. ;-)

Steve

On Mon, 15 Oct 2007 21:02:51 -0700, "** Frank **"
wrote:

If you want to do this well in today's market right now, look into
commercial properties which is not in lockstep with the residential
downturn. It also has a better positive cash flow than single family units.

We have local taverns in Las Vegas (PT's Pub), so a guy mentioned one
day (not in the pub) - if they build PT's near you BUY!

Twelve years; I've been here in Vegas, and commercial continues to
expand. I'm expecting a new red light at my nearest (main)
intersection.

I think/know you might be right

--
Oren

"I don't mind coming to work, but that eight hour wait to go home is a bitch!"

On Mon, 15 Oct 2007 21:33:14 -0700, "SteveB"
wrote:


"Oren" wrote in message
.. .
On Mon, 15 Oct 2007 19:58:24 -0500, dpb wrote:

** Frank ** wrote:
Reminders all of why to _NOT_ be in the rental business...

The positive side is seeing property values double every seven years ...

Maybe, maybe not...

Not in today's market! :-\

Oren

Many things affect the market, Oren, and region is one of them. Last year,
Las Vegas was projected to run out of buildable land in the valley. If you
can hold out, things should start to pick up again here next year, ratchet
up for five more, then zoom when land fizzles out in Vegas.

We had our houses for sale, but now plan to continue using them as vacation
rentals, and enjoy the cash flow until the market either picks up enough to
get our price, or really starts jumping more than 8% per year in valuations.
Now we're going to hire a resident manager, and just sit on them. Houses
near Harmon and Sandhill.

Steve


90 percent of Nevada is still held by Bureau of Land Management (BLM).
the last 10 percent is owned privately.

I don't want them to auction off the land for more houses to compete
with mine. Buy my existing one :-) Prices stay up when they don't
release the land to developers.

A guy in the Anthem/Seven Hills (local Las Vegas) was getting 5K a
month from a Casino Executive for a comfortable rental. The vacation
rental paid for a brand new pool - for the rental home...

--
Oren

"Well, it doesn't happen all the time, but when it happens, it happens constantly."

On Tue, 16 Oct 2007 08:45:06 -0500, dpb wrote:

Ain't enough money in the world to get me to be involved in rental
property if I had to do _anything_ on the maintenance aspect as being
discussed in this thread...

I found my OUCH! point


--
Oren

"Well, it doesn't happen all the time, but when it happens, it happens constantly."

Jim wrote in news:1192171326.333496.184700
@q3g2000prf.googlegroups.com:

I'm a landlord, own several houses I currently rent. Based on my
experience with Behr brand exterior house paint purchased from Home
Depot, I'll never buy that Behr brand guano or any paint from Home
Depot again!!


Why post that? It changed my opinion of it zero.


With the info you give it can be assumed a rotten prep job. Or maybe some
wino just drank paint and puked it up on the walls.