Hello,
Yesterday I had a 1.5 year long guest check out of my corporate rental in a beautiful golf course community in Raleigh NC. I hired my concierge in the area to do the walk through for me and she discovered some ninor issues including a chip in my wood floor! Thank god I have a $1500 damage deposit to pay for this but I still always hate it when I have to go down this road. Especially when I am dealing with a firm that has their own legal department.
On a lighter side I also asked my concierge to change the battery and code on my Schlage digital lock. This should have been about a 15 minute job. She got through the code change/delete ok but when it came to the battery she changed it but could not get the cover back on. Then she closed the door and the outside facing part of the lock fell off so she was locked in!!! Yep. Locked in and no way out. I talked her through a few things to try but ended up having to send a Toll Bros rep over to put the outside part of the door on so she coul put the inside on turn the handle and the door opened. I kid you not. Luckily her husband came over and did what she could not and all is well that ends well. I was so nervous for her and thought I would have to spend hundreds of $ on a locksmith.
Thats all for today!
Thursday, March 31, 2011
Sunday, March 27, 2011
Introduction.....
Hello,
I am not sure how this BLOG thing reaches another human being but if there is anyone out there, I decided to create a BLOG that will follow my life as a Landlord to hopefully let you learn from my experiences if you are thinking about becoming one. Through my postings you can figure out what works and what does not work. My first statement is that being a LL is great and sucks all at the same time. But you can decide that for yourself.
Let me start with some background info. I guess I am well educated as I have an MBA and a great career thanks to my parents support (may they rest in peace) and I have bought and sold real estate since around 2003 when I saw how prices it kept running up and up and up and wanted to put my bonuses to good use. My plan was to buy anything and everything in sight as long as these dumb banks would let me. Single family homes, town homes, 2 family homes, condos in both great neighborhoods (flip) and challenged neighborhoods (cash flow). I bought in VA, DE, MD, NJ, IN , WV, SC, and NC. But I also backed out of deals and lost sizable deposits in SC & FL. My best deal netted me over $100,000 and my worst lost me $60,000. I have sold 5 properties that made me $ but sold 4 that lost me $. Overall I am ahead. Thank god for that!
But this BLOG will be about my life as a Landlord. Being a landlord is my 2nd career but is also is my passion. You see I love it when I am dealing with my vacation homes which I rent out weekly for the most part, like it when I am dealing with my yearly newer house & condo rentals but sort of hate dealing with my older 2 family homes that are in challenged neighborhoods.
I will attempt to post either nightly or weekly what I went though that day or week but I will have to figure this out as I might start off nightly but move to weekly if that becomes too much to handle. So thank you if you are out there for reading this and come back in a few days for my first real day in the life.
Thanks
G
I am not sure how this BLOG thing reaches another human being but if there is anyone out there, I decided to create a BLOG that will follow my life as a Landlord to hopefully let you learn from my experiences if you are thinking about becoming one. Through my postings you can figure out what works and what does not work. My first statement is that being a LL is great and sucks all at the same time. But you can decide that for yourself.
Let me start with some background info. I guess I am well educated as I have an MBA and a great career thanks to my parents support (may they rest in peace) and I have bought and sold real estate since around 2003 when I saw how prices it kept running up and up and up and wanted to put my bonuses to good use. My plan was to buy anything and everything in sight as long as these dumb banks would let me. Single family homes, town homes, 2 family homes, condos in both great neighborhoods (flip) and challenged neighborhoods (cash flow). I bought in VA, DE, MD, NJ, IN , WV, SC, and NC. But I also backed out of deals and lost sizable deposits in SC & FL. My best deal netted me over $100,000 and my worst lost me $60,000. I have sold 5 properties that made me $ but sold 4 that lost me $. Overall I am ahead. Thank god for that!
But this BLOG will be about my life as a Landlord. Being a landlord is my 2nd career but is also is my passion. You see I love it when I am dealing with my vacation homes which I rent out weekly for the most part, like it when I am dealing with my yearly newer house & condo rentals but sort of hate dealing with my older 2 family homes that are in challenged neighborhoods.
I will attempt to post either nightly or weekly what I went though that day or week but I will have to figure this out as I might start off nightly but move to weekly if that becomes too much to handle. So thank you if you are out there for reading this and come back in a few days for my first real day in the life.
Thanks
G
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