hilyfe

Sell or just keep it for the future

99 posts in this topic

I'd say it depends what other assets are owned by the OP.

It's wise to spread one's investments over a variety of places and asset classes.

Don't keep all the eggs in one basket.

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I have a 12 unit apartment

I can say its an easy money income for me

But its getting on the way of the things i want to do

Like right now i wwanted to spend the holidays in phils.

But i cant cause of this apartment

Plus someone moved out and have to fixed it and rent it out again

 

Too much trouble is it?

You've come to LINC for financial/real estate advise?

One gets what one pays for...

Find a trustworthy professional.

Best to ya....

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Happy new year fellas

Thanx for the replies

 

The only reason why im thinking of selling

I dont want to be bothered with anything

Just enjoy life

Do what ever comes to mind

Im getting old

I cant take this with me

Im single why not just spend it all

Instead of leaving it to someone else

Like a gf she be making money and use that money for a new bf husband etc.

Hell no lol

 

 

Youll see why im so mad at that unit right now

So much work and money darnit

 

Part 2 of the damages

 

And his deposit was only 1k

I might have to raised the deposit to fixed things up

After 2 days of work

 

Its holiday and this is what im doing wtf

I might just keep this unit to my self

Since everything will be good as new again

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value of real estate properties always grow steadily, until the population shrinks. DON'T ever sell so long as your rent is sufficient to cover the upkeep and tax.

 

 

 

how old are you? Not 80 I suppose? You will always need money, best a stable income, until the day you die. You don't want to run out of money before that!

 

no money no life.

Edited by aqd
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Gotta finish this unit before going to philippines

Should be in manila by the 27th

Itll be another adventure for sure heheh

value of real estate properties always grow steadily, until the population shrinks. You don't need complex math for that. Simple supply and demand.DON'T ever sell so long as your rent is sufficient to cover the upkeep and tax.

Theres always enough to cover those broken stuff

Those arent the problem

My problem is my add

If i dont like to be bothered

I dont

Like this unit im forcing my self to look after it

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What happened to the new squeeze? You don't want to spend Holidays with her?

 

Lol which one?

I think i cant hold a relationship to long

Ill get bored with them

Like my toys

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Okay. You came here asking about this property, and your life. So, while I am risking really pissing you off here, I am going to give you the same advice I would give anyone. But, before you get mad at me, keep one thing in mind here. I, like you, was the youngest (I realize you are an only child), thus was spoiled beyond belief and given everything in this world. My being spoiled stopped when my parents passed. Yours, however, carried on for some years. I realize your mom is still alive, retired in the Philippines.
 
Now, I hope you are sitting down. 

 

First, do you even require a lease? 

Second, do you do any sort of background or credit check on your applicants, prior to giving them access to your properties?

Third, do you watch to see how their children behave while present in front of you, even during an initial interview?

I'm willing to bet money most of the above is no, none, or not at all. 
 

 

The only reason why im thinking of selling
I dont want to be bothered with anything
Just enjoy life
Do what ever comes to mind
Im getting old
I cant take this with me
Im single why not just spend it all
Instead of leaving it to someone else

 
You don't truly appreciate your rental property, because it, like most everything else in your life, was given to you. Probably the worst thing your parents, especially your mom, could have done to you. Being spoiled ruins a person's life. You, like me, feel you never had to grow up. Someone always owes YOU something. I know. I've been there. You are far from being "too old". You have no idea how many more years you have on this earth, so I would advise you to hold on to what you have, as though you are going to live to be over 110. Pretend, for once in your life, that you had to actually work for something - this property. Then, you tell me if you want to get rid of the property that is to see you into your old age. 

 

Anyway, being spoiled during your younger years is why you don't give two shits about the real estate and income your parents worked their asses off to build - solely to be handed over to you. They simply gave it to you, like a Christmas or birthday present. You didn't have to work for anything. But, parents really believe they are doing right by their children, to screw them up in this way. In my case, it was my mother too. She handed me stuff, anything that I wanted, from a very early age. I never knew "no", in my life, until it came at a point in my life that made it one difficult pill to swallow.

 

Now, you need to man up and take responsibility for this property. You need to keep it and start managing it in a responsible fashion, and stop letting your tenants feck it up during their stay. YES, there are ways around this. There are ways to save YOURSELF from having to do all this kind of work, every time someone moves out. My mom was a real estate broker, had her own and other properties that I began managing for her, under her name, as she grew older. So, trust me on this. 

 

Get your ass down to the local court house, if you do not know already, and find out what your rights are as a landlord. (I will not assume rights are the same throughout all 50 states.) You are renting, quite obviously, to all the wrong people. You need to do regular (I would say monthly, more frequently, if you don't feel something is right in an apartment) walk through inspections - have it in the lease, 24 hours notice, for a complete walk through. 

 

In Georgia, I hand wrote all of our leases, legal size, back and front, small print. Trust me, those leases covered everything. They also had a sizable area for "Special Stipulations". In Georgia, we can garnish wages for anyone who doesn't pay for damages (in excess of a deposit) prior to leaving the premises. I never lost a case and always got 100% of my mom's money back for her. So, make sure your applicants have been on one job for a long time, prior to renting to them. If that does not work for Hawaii, then charge the shit out of them for a sizable deposit. Yes, more than $1,000 USD. 

 

Don't rent to tenants who have minor aged children. If you do, charge them a pet deposit - Yes, I mean it. Charge them as you would someone bringing a pet. Filipinos spoil their children worse than any humans on this planet. That's why you have all that lower damage to your apartment. The first walk through I did - per the lease agreement, and upon seeing any of that, they would be history. 30 days notice to vacate the premises. 

 

Do not be easy going. This is your home too. This is your property these animals are destroying. If you don't feel you have the balls to run the place, hire an asshole. Hire someone who will manage your property like it should be managed, to collect the monies each month, make deposits, hire out repairs as needed, and will kick the feckers to the curb when they do not adhere to your lease agreements. 

 

 

Lol which one?
I think i cant hold a relationship to long
Ill get bored with them
Like my toys

 

You really need to just stay single. A woman, especially one with the responsibility of a child, certainly doesn't need a wealthy guy to come into her life, make all sorts of promises, then feck off because it's Tuesday and time to find another girl.

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value of real estate properties always grow steadily, until the population shrinks. DON'T ever sell so long as your rent is sufficient to cover the upkeep and tax.how old are you? Not 80 I suppose? You will always need money, best a stable income, until the day you die. You don't want to run out of money before that!no money no life.

Just turned 46 last nov.

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You really need to just stay single. A woman, especially one with the responsibility of a child, certainly doesn't need a wealthy guy to come into her life, make all sorts of promises, then feck off because it's Tuesday and time to find another girl.

Well now that you mentioned it

I think shes the wrong woman again

She starts thinking about coming to hawaii

And managed this and that

Maybe a live in partner is what i need not a wife

So she ca t chase me with alimony or what ever those things called

Edited by Paul
truncated unnecessary quoted text

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Well now that you mentioned it

I think shes the wrong woman again

She starts thinking about coming to hawaii

And managed this and that

Maybe a live in partner is what i need not a wife

So she ca t chase me with alimony or what ever those things called

 

Before you shack up with a honey, you need to check on "common law marriage" for Hawaii.

Sometimes they may get full legal spousal rights.

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