It is not always fun owning rentals, but you have to take the bad with the good. Here is a video of one of my rentals that was trashed a while back:
Many people see this and think this confirms why they never want to own rentals. However, even with this disaster, rentals have been an amazing investment for me. I have bought 20 rentals over the last 7 years and they have made me a ton of money. One of the cool things about them is I have invested very little of my own money into them after selling a couple and refinancing others. You can read this article that goes over the numbers from a little bit ago.
https://investfourmore.com/2016/12/19/how-i-have-bought-14-rentals-without-any-of-my-own-money/
I have since bought four more commercial properties that have taken more cash to purchase and repair. However, I can refinance a couple of those soon to get most of my money out of them as well. All in all, I will be making over $9,000 a month from my rentals, with almost no work from myself. They are managed by other people and that number includes allowances for vacancies, maintenance, taxes, insurance, and mortgage payments.
The other cool think about my rentals is they have increased my net worth by millions of dollars. I get an awesome deal on every property I buy and many have my properties have seen crazy appreciation. I do not like to count on appreciation and I have gotten lucky with it in Colorado, but it still happened.
Here is my latest commercial rental:
I bought this property for $100,250 at the end of 2017 and it is rented for $1,500 a month now.
While it sucks when your properties get trashed, it will happen. I plan for maintenance and vacancies. Most of my properties have great tenants, but the bad ones can cost you thousands of dollars. By planning for the bad tenants and experiences, the trashing of this property was not that bad. We fixed it up and have it rented for $1,600 a month now.
You can see the after video below:
To find our more about rentals, check out my blog https://investfourmore.com. I have over 400 free articles on real estate investing. A ton of other free resources, a weekly podcast, and much more.
I am happy to answer any questions here as well.