I DON’T HAVE THE TIME TO OWN RENTAL PROPERTY There is no doubt that owning rental property can require extra time IF you manage the property yourself. IF you are looking for a 2nd part time job then you can manage your investment property IF you have the proper experience. IF you don’t need a 2nd job and IF you don’t have experience managing then you will do what you do with any of your other investments – you hire a professional to handle them. If you own IBM stock you don’t get involved in running the company and the same should be true for your rental property.
I’m off real estate as the main topic again and on to life issues. I went to San Jose this weekend to watch my grandson in his state hockey championship tournament. We had a great time and he won so that was even better. Anyway, I read this great story in the magazine in the plane. The story was called, “Not So Fast,” by David Hochman and I have attached a link at the end of my post. David covered a lot of issues but the main point he made and one that I agree with is based upon S-L-O-W principles. I won’t get in to all of them I urge you to read the arti
I just got back from a short vacation to Washington DC and then to Virginia. It gave me a chance to rest up and I got to see for the first time a lot of historical places in our country. I got to sit in the Supreme Court gallery although the court was not in session. I saw the Capital, the White House, and most of the monuments. The tour of Mt. Vernon was especially interesting. Arlington Cemetery put in perspective just how many people have given their lives for the freedoms we have.
I read a headline in the LA Times today on a story titled; THE TOUGHER WORKPLACE. The quote below it was by a lady named Lisa Weber who is an employee at National Envelope Company. She said, "It's not something I would wish on anybody.
One of the great advantages of buying well located investment property is that in most areas it is fairly easy to find a competent professional management company to run your investment property. The usual fee for that is between 5-7% of the monthly gross of the property. For that fee you will literally be able to have the company handle all aspects of running your property and just send you a check and report every month. It doesn’t get much easier than that and the great news is you still retain 100% ownership of your property and you will be making all the major decisio