Home > Update and musing about rentals

Update and musing about rentals

March 25th, 2015 at 04:25 pm

hi all

unit that was vacated looks fantastic. We will do a quick clean and re-rent. listing it for the weekend

I am going to a local landlord meeting April 14.. meet people and learn. I am looking forward

and finally seeing the 6 homes/3 units for what they were . a good deal but not a 'turnkey' situation more a deal where the sellers were sortof 'done' and rents were lower, management was 'ok' and the places needed some fix up.

I went into it thinking 'oh this will be relatively turn key'

Anyway glad I had the money to fix them up and hang in there through the turnovers (JUST starting on the 3 units this year) and the lack of rent.

I feel very good though that this was a good long term buy and feel I have 'turned the corner' and it is getting easier and easier and smoother and smoother.. and really when I am done I will be in a better position then had I not done the rentals and just 'saved' and actually even better then if I had kept the OLD rentals that I lost in foreclosure(those I paid too much for it. Only thing I wish was I had not used up my IRAs in the past..

that is the past. looking forward to the future

and just did the FIRE calculator thing and with a conservative estimate of savings $100k and my rentals paid off (4/2019 for ALL of them) I have no lines going to zero!

3 Responses to “Update and musing about rentals”

  1. Another Reader Says:

    It's good to step back and analyze what went wrong and what went right. It sharpens your skills for the next acquisition.

  2. LuckyRobin Says:

    I'm glad things are working out. What does FIRE stand for?

  3. Another Reader Says:

    FIRE = Financially Independent, Retired Early. There are calculators to see if your savings and investments will make you financially independent and able to retire early. FIREcalc is one of them.

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