And this is why you don't have a rental unit b4 you're ready

**LivingAlmostLarge** · 06-13-2008, 10:49 AM

I'm not even sure for home warranty they will cover your A/C unit. They do an inspection and they may say it's on the last legs and you have 6 months, you can have a policy but it won't cover the A/C unit. Then what?

A/C can be expensive. You should probably start looking now before it breaks. Emergency repairs cost a bundle about 3x the cost of normal time frame.

So your tenants can barely afford an increase of $25, what makes you think in 3 years they can afford the $300/month increase to cover the difference? The difference is only covered in increased rent not property appreciation. That would happen with or without a mortgage.

**AmbitiousSaver** · 06-13-2008, 11:00 AM

Nevermind

**humandraydel** · 06-13-2008, 01:55 PM

...and to make matters worse, you are PAYING someone to manage your property?

**AmbitiousSaver** · 06-13-2008, 02:09 PM

Well yeah, she is the one that checked the prospective tenants credit, set up the automatic deposit, and acted as a mediator. When I went into it I knew NOTHING about being a landlord and figured trusting her knowledge so I don't end up with a lawsuit was worth 10% of what I charge in rent if it is even just an advisor to tell me what I need to look out for so I don't get sued.

I guess I'll just stay mum about this situation I'm stressed about from now on, if anything yeah I was trying to serve as an example about why being a landlord isn't all its cracked up to be... not made to feel worse about a situation I'm already stressed about and recognize the error of my ways. But thanks anyway... I was just trying to vent

**humandraydel** · 06-14-2008, 05:40 AM

Originally posted by AmbitiousSaver View Post

I guess I'll just stay mum about this situation I'm stressed about from now on, if anything yeah I was trying to serve as an example about why being a landlord isn't all its cracked up to be... not made to feel worse about a situation I'm already stressed about and recognize the error of my ways. But thanks anyway... I was just trying to vent

I'm sorry, I wasn't trying to make you feel worse. I was trying to point out that you are paying someone to manage the property when you are already losing money on it. At least if you managed the property you'd lose $150 less each month - which may cut down some on the stress.

As for being an example, you are right - being a landlord isn't all about easy profit rolling in each month. You also can't just buy ANY house and rent it out and expect to make money. In some high priced areas, it's hard to find a house that you can actually make money by buying and renting. You definitely have to do the financial analysis before buying the house.

And this is why you don't have a rental unit b4 you're ready