Real Estate Investment

[exit301]

Do we have any real estate investors in here? I am just getting my first property lined up for closing next month. Its going to be a townhouse rental and should cashflow around $300/mo.

Once the market turns around I think that I am going to furnish the place and try to rent it to businesses as a corporate unit. Does anyone have experience doing this?

[MichoRizo]

my uncle and his wife own at least 30 properties around austin ... yes they make very good money off the rent BUT ... up keep is a pain in the ass! you end up with renters that just destroy your place ... holes in dry wall, carpet torn up, broken windows and tile. Pretty much every time a renter leaves he has to redo the house(s) again. Lucky for them his has a construction business so he does most of the repairs himself.

And in Texas there is some stupid law to protect the renter ... if he decides not to pay rent you cant kick him out ... u have to go thru the court system prove that he's not paying you rent then the sherrif needs to present an eviction notice. THis process can take 6-9 months! And 100% of the time in this situation they completely tear up the place out of spite.