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  #1  
Old 08-21-2006, 07:23 PM
r8rpwr
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Default Anyone buy and hold?

I see a lot of discussion here on buying and selling, but not much on holding. Any landlords out there? That's mostly my corner of the business.
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  #2  
Old 09-04-2006, 05:31 AM
r8rpwr
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Maybe if I start the discussion someone will jump in!

We currently own 11 units; 5 duplexes and one SFH. Right now we have 9 of the units occupied, so we're actively working on getting fully leased. I would like to do that ASAP, before winter.

We have been fairly lucky in not having a great number of problem tenants over the years. We have done one eviction, and hope not to repeat the experience anytime soon.
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Old 09-04-2006, 09:03 AM
sub-zero
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We bought a SFH on a foreclosure last year for the purpose of repairing, updating and flipping. You have to keep it for 1 year or you have to pay higher tax rates upon the sell of it. So once we finished the remodel, we put it up for rent and it rented fairly quickly on a 1-year lease. So I think that we might end of keeping it for a while just to see where it goes.
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Old 09-04-2006, 09:26 AM
r8rpwr
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That's a good plan I think. As long as it's paying for itself, why not keep it and increase your appreciation potential.

Did you build a good amount of equity through the rehab?
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Old 09-04-2006, 07:25 PM
sub-zero
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A whole lot. We got such a good price on the house that the rehab expenses still brought the total in well below the appraisal. So we have quite a bit of equity in it now.
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