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Has anyone invested in property before

Discussion in 'BlackHat Lounge' started by freeufcdotinfo, Sep 16, 2011.

  1. freeufcdotinfo

    freeufcdotinfo Power Member

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    Looking to buy a flat or two and was wondering if anyone would has done this - im based in the UK and I have come across some cheap ones - thinking of buy to let.
     
  2. Nookie Monster

    Nookie Monster Senior Member

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    I had some rental units back in the 80's. The least headache way is to have a realty company manage the units for you. The small percentage you pay is well worth the money. They handle all the crap that comes up with tenants.

    HTH
     
  3. Dn100

    Dn100 Regular Member

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  4. freeufcdotinfo

    freeufcdotinfo Power Member

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  5. hispdcha

    hispdcha Regular Member

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    Managing a rental can be easy or a pain in the ass. It depends on many factors with the most pain in the ass factor being your tenants. I also would recommend you find a property manager to handle all the bullshit that comes along with the business.

    Here is what you have to deal with when dealing with tenants/rentals:
    Late rent, damage, evictions, complaints, broken shit that needs fixed asap, maintenance, dirty fuckers who never clean, dealing with tenant laws, understanding your local tenant ordinances, contracts, deposits, collecting rents, constant phone calls from tenants at all hours, etc.

    Positives:
    Make some passive income, equity.

    You decide if you want to deal with all that shit. :) Most of that stuff can be handled with awesome tenants so screen wisely, but shit will always come up when dealing with other people. You will always have people who are late on rent, who will break your stuff, and who will cause problems with the neighbors/city and complain. A property manager is a life saver in that aspect and makes it worth the trouble.
     
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