Domain: tiger-web1.srvr.media3.us How important is net worth to you? | Page 2 | Money Talk
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re: How important is net worth to you?

Posted on 3/3/17 at 2:34 pm to
Posted by I Love Bama
Alabama
Member since Nov 2007
38433 posts
Posted on 3/3/17 at 2:34 pm to
I do.

My volume is not very high (yet) but normally I just issue a refund. Returns are not worth the headache.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
40473 posts
Posted on 3/3/17 at 2:41 pm to
Do you manage the rental properties yourself, or do you hire someone to do that?

I always wondered just how passive rental properties are. I mean you can go months at a time with no issues, but then all of a sudden it takes up a ton of your time.
Posted by I Love Bama
Alabama
Member since Nov 2007
38433 posts
Posted on 3/3/17 at 2:48 pm to
Getting a quality tenant should be the #1 priority. I think many landlords rush the process and it ends up biting them in the arse. My tenants pay on time and some of them even make improvements to the property out of their own pocket.

I am starting to dip my feet into short term rentals (Airbnb, Home Away, Etc. ) after a friend of mine told me he was doing well with it (he posts here). Those are more time intensive but the returns are just stupid good.


If something breaks, I can call someone to fix it. It hasn't been a problem (yet).

I actually managed all of my properties in 2016 while living out the country. It wasn't easy at times, but it is possible thanks to our technology in place.
Posted by ItzMe1972
Member since Dec 2013
12374 posts
Posted on 3/3/17 at 7:37 pm to
"Getting a quality tenant should be the #1 priority. I think many landlords rush the process and it ends up biting them in the arse."

This is the way to play the game. I have been a landlord most of my life and this is the top advice I give to new investors.

Note: The Lafayette market is softer than I've seen it in my life. But I am now 100% occupied after a long wait for the right tenants.
Posted by bovine1
Member since Dec 2004
1366 posts
Posted on 3/3/17 at 9:32 pm to
Very important number to me. It's a measure of your overall finances. I calculate mine the first of every month. About every 6 months I'll also calculate the percentage of my investable assets that are in cash, bonds, and stocks then reallocate if I think it's indicated.
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