Juli Doty - Real Estate, Real Advice

Owning Rentals

Is owning rentals a blessing or a curse? Yes, both. But in my world the blessings dramatically outweigh the downfalls.

An occasional bad tenant has ruffled my feathers. I was sued once for calling the dog catcher to come get 2 cats left 5 days earlier by a bitter evicted tenant. The tenant was told by the judge in court that he was, and I quote, "bogus". I won.

Owning rentals allows you to have multiple people buy real estate for you. It's really that simple. Each tenant who pays rent is making your mortgage payment, your insurance, your property taxes and when that tenant moves out, someone else moves in to continue making payments for you.

After a few years, you own the building free and clear. You decide to sell and guess what? Your building is not only free and clear, but it has appreciated, grown, in value. You got it nearly free, plus its value went up!

A wise landlord will keep up excellent maintenance and improvements.You will raise your rents to the point where you have quality tenants that appreciate your efforts.

Owning rentals was the key to my personal financial success. It certainly can be to you, as well.