Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » Landlord chads gtfih
  1. Results 1 to 20 of 20
  2. Page 1 of 1

Thread: Landlord chads gtfih

post 1705211811 08-18-2024, 09:02 PM
-
#1
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425

Landlord chads gtfih

Will be inheriting a two story rental building from my pops(majority owner). Can I get basic landlord tips? Not sure how much they are being rented out for atm but I know I want to raise it by a few hundred.
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705212011 08-18-2024, 09:07 PM
-
#2
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,475
  6. Subscribers: 6
  7. Rep Power: 592567
How many units

How old is the building

How big is the lot

Could you build something bigger?
post 1705212131 08-18-2024, 09:12 PM
-
#3
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425
Originally Posted By r32gojirra⏩
How many units

How old is the building

How big is the lot

Could you build something bigger?
Two units I believe. A lower and top level.

Not sure how big the lot is but I'm guessing 2500 sqft(might be alot bigger).

Its as is, cannot build anything else. No capital. There is a small plot of next right next to it but not sure what to do about it.

Building is kinda old but it's had some renovations done to it.
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705212651 08-18-2024, 09:27 PM
-
#4
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,475
  6. Subscribers: 6
  7. Rep Power: 592567
You said your pops is the majority owner

Who owns the minority?
post 1705212931 08-18-2024, 09:41 PM
-
#5
  1. lebowski951
  2. Registered User
  1. lebowski951
  2. Registered User
  3. Join Date: Feb 2012
  4. Location: alberta, Canada
  5. Age: 36
  6. Posts: 2,582
  7. Rep Power: 23118
Originally Posted By theory816⏩
Not sure how much they are being rented out for atm but I know I want to raise it by a few hundred.
Don't raise rents on good long term tenants "just because". If they pay rent on time and it's already at a good rate then don't touch it. Having good tenants is paramount to renting. Nightmare tenants have chased many out of the rental game entirely.

Use a third party credit screening company for every future applicant. If you're not willing to spend the $30 to double check your preferred tenants after the initial screening then you are begging to get bent over and get ****ed for thousands of dollars. Save $30 to lose $10,000? It sounds retarded because it is.
post 1705213581 08-18-2024, 10:04 PM
-
#6
  1. LargePeter
  2. Fuck off, Lahey!
  1. LargePeter
  2. Fuck off, Lahey!
  3. Join Date: Aug 2011
  4. Location: Kuntstralia, Australia
  5. Posts: 41,458
  6. Subscribers: 5
  7. Rep Power: 572509
Take advantage of every tax loophole you can, property investment is fuking epic for that
RAW DOG CREW LIEUTENANT

ALL ROADS LEAD TO MENTZER

President Donald J Trump Crew
Steroids Crew
Growth Hormone Crew
Miscers Who Lift Crew
Robert Pickton Hooker Disposal Crew
Mustang Crew
No Alcohol Crew

Gay Phaggot Crew:
Papi Cholo
post 1705213671 08-18-2024, 10:10 PM
-
#7
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,475
  6. Subscribers: 6
  7. Rep Power: 592567
Originally Posted By LargePeter⏩
Take advantage of every tax loophole you can, property investment is fuking epic for that
I don’t think it’s as good in the US as it is here
post 1705214221 08-18-2024, 10:40 PM
-
#8
  1. BigDeeps01
  2. Registered User
  1. BigDeeps01
  2. Registered User
  3. Join Date: Sep 2019
  4. Age: 56
  5. Posts: 26,735
  6. Rep Power: 169715
Sell it and give the money to charity. You didn’t earn that and don’t deserve it. Make it on your own!
post 1705214961 08-18-2024, 11:10 PM
-
#9
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425
Originally Posted By r32gojirra⏩
You said your pops is the majority owner

Who owns the minority?
I mean majority owner out of all siblings.
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705215031 08-18-2024, 11:13 PM
-
#10
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425
Originally Posted By BigDeeps01⏩
Sell it and give the money to charity. You didn’t earn that and don’t deserve it. Make it on your own!
I agree I didn't earn it. But its an inheritance and I need it to get on my feet(dad left just enough to help). When I'm set financially, I'll give it to my nephews/nieces.

If anyone is to become successful monetarily, you'd want it to be me because I have the knowledge to invest in certain ideas that will really help whatever industry i'm in.
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705215351 08-18-2024, 11:34 PM
-
#11
  1. BigDeeps01
  2. Registered User
  1. BigDeeps01
  2. Registered User
  3. Join Date: Sep 2019
  4. Age: 56
  5. Posts: 26,735
  6. Rep Power: 169715
Originally Posted By theory816⏩
I agree I didn't earn it. But its an inheritance and I need it to get on my feet(dad left just enough to help). When I'm set financially, I'll give it to my nephews/nieces.

If anyone is to become successful monetarily, you'd want it to be me because I have the knowledge to invest in certain ideas that will really help whatever industry i'm in.
5'5 110lb(MIL Spec) Asian Master Race Crew
post 1705216481 08-19-2024, 12:42 AM
-
#12
  1. LargePeter
  2. Fuck off, Lahey!
  1. LargePeter
  2. Fuck off, Lahey!
  3. Join Date: Aug 2011
  4. Location: Kuntstralia, Australia
  5. Posts: 41,458
  6. Subscribers: 5
  7. Rep Power: 572509
Originally Posted By r32gojirra⏩
I don’t think it’s as good in the US as it is here
Sucks for them then
RAW DOG CREW LIEUTENANT

ALL ROADS LEAD TO MENTZER

President Donald J Trump Crew
Steroids Crew
Growth Hormone Crew
Miscers Who Lift Crew
Robert Pickton Hooker Disposal Crew
Mustang Crew
No Alcohol Crew

Gay Phaggot Crew:
Papi Cholo
post 1705222181 08-19-2024, 06:57 AM
-
#13
  1. byzantine75
  2. 柔靓家
  1. byzantine75
  2. 柔靓家
  3. Join Date: Dec 2014
  4. Location: Perth, Australia
  5. Posts: 6,953
  6. Rep Power: 99907
Originally Posted By theory816⏩
I agree I didn't earn it. But its an inheritance and I need it to get on my feet(dad left just enough to help). When I'm set financially, I'll give it to my nephews/nieces.

If anyone is to become successful monetarily, you'd want it to be me because I have the knowledge to invest in certain ideas that will really help whatever industry i'm in.
Your siblings may complicate things. Are you all on the same page with renting it out?
Judo crew
Kyokushin crew
Pyrogen is gonna be my best man at my 5th wedding crew
post 1705222761 08-19-2024, 07:22 AM
-
#14
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425
Originally Posted By byzantine75⏩
Your siblings may complicate things. Are you all on the same page with renting it out?
I think so. But honestly I think the building should be liquidated. Because if any major maintenance occurs, it takes too long to recoup it back from rent. I believe the overall collected rent is only about 1800-2k/month. If the AC goes out, i'm out several months of rent.
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705223031 08-19-2024, 07:31 AM
-
#15
  1. tripod29
  1. tripod29
  3. Join Date: Oct 2017
  4. Posts: 26,152
  5. Rep Power: 453931
Just based off how you talk about it I don't think you're ready. I would guess your personal finances aren't in order so I would tell you to sell it. Once you are ready to broaden your portfolio you will be in a better position in the future as compared to now.


Srs, vry srs.
post 1705223111 08-19-2024, 07:35 AM
-
#16
  1. OliverHeldens
  1. OliverHeldens
  3. Join Date: Oct 2014
  4. Age: 33
  5. Posts: 43,032
  6. Subscribers: 1
  7. Rep Power: 130987
Originally Posted By r32gojirra⏩
I don’t think it’s as good in the US as it is here
Owning Investment property is highly advantaged in the US as well. You can deduct all of your expenses as well as Mortgage Interest for Commercial Property. So Oftentimes you'll have a property that you're earning $60k per year on while also building $30k equity per year and actually showing negative income.
post 1705223211 08-19-2024, 07:38 AM
-
#17
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425
Originally Posted By tripod29⏩
Just based off how you talk about it I don't think you're ready. I would guess your personal finances aren't in order so I would tell you to sell it. Once you are ready to broaden your portfolio you will be in a better position in the future as compared to now.


Srs, vry srs.
Ready for what? Be a property manager? I can agree with that. But I mean, I've been taking care of my mom's house for a while now. Water line shut off and AC maintenance are really the two biggest concerns.
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705230141 08-19-2024, 10:35 AM
-
#18
  1. theory816
  2. G-Unit
  1. theory816
  2. G-Unit
  3. Join Date: May 2012
  4. Posts: 19,458
  5. Rep Power: 43425
Bump
🤴Supreme Self Esteem Crew
5'5 110lb(MIL Spec) Asian Master Race Crew
Yacht/Boat Crew
post 1705230221 08-19-2024, 10:37 AM
-
#19
  1. shmobin
  2. Registered User
  1. shmobin
  2. Registered User
  3. Join Date: Feb 2012
  4. Location: United States
  5. Posts: 10,877
  6. Rep Power: 68142
Originally Posted By theory816⏩
Will be inheriting a two story rental building from my pops(majority owner). Can I get basic landlord tips? Not sure how much they are being rented out for atm but I know I want to raise it by a few hundred.
Hire a property manager. **** everything else.
post 1705230591 08-19-2024, 10:45 AM
-
#20
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
Originally Posted By theory816⏩
I think so. But honestly I think the building should be liquidated. Because if any major maintenance occurs, it takes too long to recoup it back from rent. I believe the overall collected rent is only about 1800-2k/month. If the AC goes out, i'm out several months of rent.
Therein lies probably one of the most important things: having sufficient cash to deal with maintenance issues, lost rent, etc because chit happens.

If you have the cash and you buy a new AC unit, the money doesn’t disappear but merely changes from currency to an AC unit worth the equivalent currency.
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts