So..landlords..worth it?

munchkin
Mon, 04 Feb 2013 20:47:28 +0000

After about 4 or 5 months, the tenant lost his job, couldn’t pay rent, keep making excuses and did not want to move. About 3 months later, after hiring a lawyer to evict, the place is still vacant. I estimate the loss to be about 40% of annual income.

I am heading to Florida to get away from the cold, too bad the place has no furniture, we could have lived there and saved some money renting another place. Sigh.

OTOH, we received an unsolicited offer on one of our rentals for about 12% more we thought the property was worth. So baring the buyer walking away from his $50,000 deposit, we just sold a property.

So, hopefully being a landlord is worth it in the end.