Oh yeah...One other thing...I've thought about rental property, but I am really not a Mr. Fix it kind of guy. I have a masters degree in computer science believe it or not and I am not very good and the handyman stuff...Funny enough I do own a construction company, but it is very focused piece of the industry. I would say it, but I think I let a little too much personal information out already. ;)

I still go back and forth on it. My parents own a trailer park and have done exceptionally well over the years...My dad can fix anything and handles all of the maintenance now that he is retired. He just never really passed on that talent to me! Hahaha...

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Posted by theoldwiseone33

University of Louisiana

Member since May 2012

493 posts

Posted on 12/29/14 at 8:13 pm to dallaslsufan

I appreciate your response. Don't think for a second you have to be a handyman to own rental property. I am the furthest thing from a handyman and I own 3 rentals and I'm not 30 yet. I purchased some properties in good areas of Lafayette in good school zones and have excellent tenants. I screened the tenants like crazy and was able to get normal people that respect the property and make good money.

I collect my rent payments online so I never have to track anyone down or issue late fees; they are automatically calculated. My minimum cash flow for a A property is $400/house after all expenses. There has been a total of 2 repairs needed in the last 3 years on the rentals.

If you think rentals are the way to go start reading Biggerpockets.com and the book Landlording on Autopilot. Both will give you a road map for success.

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