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The Water Cooler
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Anybody own rental houses? Needing advice
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<blockquote data-quote="FullAuto" data-source="post: 2112899" data-attributes="member: 5110"><p>1. My father, also a landlord, has a coworker who is also a landlord. That guy has a wife that is an attorney. I used his and modified it very little. It's only about 2 pages and I think I changed maybe 2 sentences. My father's contract, IMO, is crap.</p><p></p><p>2. I only own 3 rentals and I personally have known everyone that has lived in them. One was a coworker and all the rest have been friends. </p><p></p><p>3. No, because I've never had an application.</p><p></p><p>4. My handymen were the brother of a friend of mine and a guy I go to church with. </p><p></p><p>The people are important, but finding the right property is MUCH more important IMO. A person can tear up a nice or poor property. That variable is difficult for you to know up front. But if you get a decent person in it, you don't want to house bleeding you to death from breaking down.</p></blockquote><p></p>
[QUOTE="FullAuto, post: 2112899, member: 5110"] 1. My father, also a landlord, has a coworker who is also a landlord. That guy has a wife that is an attorney. I used his and modified it very little. It's only about 2 pages and I think I changed maybe 2 sentences. My father's contract, IMO, is crap. 2. I only own 3 rentals and I personally have known everyone that has lived in them. One was a coworker and all the rest have been friends. 3. No, because I've never had an application. 4. My handymen were the brother of a friend of mine and a guy I go to church with. The people are important, but finding the right property is MUCH more important IMO. A person can tear up a nice or poor property. That variable is difficult for you to know up front. But if you get a decent person in it, you don't want to house bleeding you to death from breaking down. [/QUOTE]
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