Are you an investor with property in Fort Wayne? There are some things the late night gurus don’t tell you about being a landlord. And that is truth of being a landlord in Fort Wayne.
Having investment property sounds like an easy way to make extra income. Buy a home under value, find a tenant, and collect a check every month…. how hard is that?
Problem is, it’s often much harder than people realize and you may find (as many landlords do) the surprising truth of being a landlord in Fort Wayne: Many investors give up personal time, vacations, weekend getaways, and family time to be a landlord.
There’s the work required
Investing in real estate can keep you very busy. First you have to find the rental property. That can be a job in itself, just ask any Realtor. After finding an undervalued home it will most likely need remodeled to make sure it performs as you want it to. Then you need to find a tenant which isn’t as easy as it sounds. Finally, you will need to maintain the property, pay bills, and collect rent. Taking maintenance calls at 11pm is not uncommon with many landlords and that is the truth of being a landlord in Fort Wayne.
There’s the time
Most investors start out with one or two rental properties. They have a full time job and take on a few properties as extra income. They don’t realize it is similar to having a part time job and is very time consuming. Many discover it is like having a second full time job after they calculate all their time spent managing that property. Seems like it is one thing after another and before you know it you haven’t got time for your real full time job or family. Investors that own and manage more then a few often discover it isn’t as easy as the late night gurus make it seem. The is the truth of being a landlord in Fort Wayne.
There’s the cost
Real estate isn’t inexpensive in any sense of the word. Yes rental properties come with rental income but they also require bills to be paid, rent collection calls and letters, evictions, remodeling, tenant screening, and a laundry list of other responsibilities. Many times when a tenant vacates the home after their lease is up it will require several thousand in remodeling to get it ready for the next tenant. This can eat into your profit very quickly. That is the truth of being a landlord in Fort Wayne.
There’s the stress
After adding up all of this it often brings stress into investors lives. Juggling rental property with all the other stress of life is not for everyone. Constantly worrying about your investment being damaged by another tenant after just fixing the home up can drag even the most optimistic person down. That is the truth of being a landlord in Fort Wayne.
If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Can we make you an offer on yours?