re: Rental Property Investment

I have two rent houses. Both rent houses have psych patients that attend day programs in each city they live in. Both rent houses have 3 occupants and I get 400/head. Both rent houses were purchased between 40-45k/each. I pay someone on the day they get paid from the government to collect rent. In the process of trying to find my next rental.

The great thing about buying in the 30-50k range is your expenses and especially unexpected expenses are always minimal.

I ran into someone that was already dealing with psych patients in day programs as tenants and at first I was put off completely but now i see it as genius. Those people are used to sleeping in group homes etc and paying that amount on housing. if you have a network of psych doctors like I do I get referrals from them on potentially good tenants because they want that patient to attend the day program of that said doctor. Is it ethical? I don't know but I don't care. To me We are just filling a need that the gubment is willing to pay for.

Not dumb at all. I think you're right. I'll look into it in the morning and repost.

Bama, do you mind sharing with me, as well? Just starting to get into RE, only about four books deep. haha Looking for my first rental now, and just starting to run some numbers in excel.

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Why do you have $850 as the rent amount at the top and then $750 is the amount when you start your 15 year revenue income section?

Same reason Bama claims 48383 national championships...

For some of you seasoned real estate investors, where or what was the best knowledge building activity for you? Obviously it would be hard to pick just one, but was it a certain book? Joining an investment club to get to talk to more experienced investors? Family or friends?

Also, what is you favorite real estate book? I've pretty much read every general "investment" book from Warren Buffets Essays on Corporate America to The Intelligent Investor, but I feel like I haven't found a consensus on the better real estate books with there being so many.

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Why do you have $850 as the rent amount at the top and then $750 is the amount when you start your 15 year revenue income section?

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Please read the post directly after the screen shot. I had been playing around with the excel sheet and some stuff is unlinked.

I know I have given you shite before, but that's a pretty nice spreadsheet you have set up and I am glad to see you move on from regurgitating infomercial shite you saw. No one has ever gotten rich with anything Carlton Sheets touches except Carlton Sheets by selling people a load of crap.

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Any of you landlords have tips, books, blogs or websites you recommend?

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I've enjoyed reading Robert G. Allen's books. He also provides a similar spreadsheet that was posted. I'm 32 looking to do this hard for the next ten years in order to set myself up. I actually stumbled across a guy that we contract at work and he wants someone to go into a trailer park with him.