landlord 101

This thread has largely been focused on “tactical” things rather than “strategic “ things.

If we were to back up a little bit and take a wider look, I would ask what your goals are?

Short term income?
Long term income?
Capital appreciation?
Exit strategy?

If you are going to get what you want out of the investment, you should probably consider this if you haven’t.

I just kind of blundered into it when I started. Fortunately the 80s & 90s were pretty good for the rental business for me. I didn’t make a lot of money, but I didn’t have a lot of expenses or problems. I was looking at it more from the capital appreciation viewpoint. If I broke even (my labor free) I was happy.

After I was in it for a while, I started making good money.

One of the wonderful things about rental property is whoever buys get to start all over depreciating it. So holding on to the same piece of property for 30 years like I did may not be the best plan. Once again, strategic planning….