In the garden, and RAIN!!! (2)
POSTED BY: SIGNYM
UPDATED: Monday, September 7, 2026 11:50
VIEWED: 338648
PAGE 109 of 834
So his plan is to sell it?
Renting out is such a headache. Several of the people I worked with built up their equity by renting. But I heard a few horror stories about horror renters, like the pedophile who spent a lot of time in law library and knew how to avoid being evicted while living for free. One thing he'd do is call code violations whenever he got close to being booted out. OTOH my colleague did have 15+ units and wasn't too careful screening prospective tenants so...
Another guy only rented one house and he did a much better job screening his tennants and I never heard a peep of trouble from him.so I guess it can be done.
There are a lot of financial advantages to renting: you can depreciate the house off your taxes and all repair/ improvement expenses are business expenses and can be deducted. But unless the rental income is higher than the mortgage it doesn't make sense and I never thought it was worth the headache.
-----------
"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:
Originally posted by SIGNYM:
So his plan is to sell it?
Well... It was. I don't really talk about it with him because I know what's happening to the market right now... possibly more than he does even though that's a large part of what he actually does for a living himself.
I feel terrible for him because of the timing of everything.
Quote:
Renting out is such a headache. Several of the people I worked with built up their equity by renting. But I heard a few horror stories about horror renters, like the pedophile who spent a lot of time in law library and knew how to avoid being evicted while living for free. One thing he'd do is call code violations whenever he got close to being booted out. OTOH my colleague did have 15+ units and wasn't too careful screening prospective tenants so...
Another guy only rented one house and he did a much better job screening his tennants and I never heard a peep of trouble from him.so I guess it can be done.
He kept telling me 23 years ago that ownership and rental was the way to go. I think for a good deal of time he was probably right, but he got himself into a really bad position with these people and, quite frankly, I think he's just too nice of a guy to be a landlord. He let them get away with murder for years and in the end they stuck a hundred knives in his back for it.
But the real killer here is when Covid happened and everyone who was a landlord learned that they have ZERO control. Tenants destroying your house? Tough shit. Tenants not paying their rent? Tough shit. Get fucked. You can't afford to pay your mortgage and property taxes because your tenants haven't paid rent for a year? Fuck you. You have to take out a huge loan to repair the damage your tenants did when we forced you to board them for free and then pay all of our fines for the code violations they were creating while they told you that you couldn't come inside to fix them because "Covid"? Eat shit and die.
There's no way in hell I'd ever be a landlord.
Quote:
There are a lot of financial advantages to renting: you can depreciate the house off your taxes and all repair/ improvement expenses are business expenses and can be deducted. But unless the rental income is higher than the mortgage it doesn't make sense and I never thought it was worth the headache.
I hope he knows what he's doing. He's a huge ball of stress but when I go to his house he and his fiance never seem to be panicking about how they're going to put food on the table or keep the lights on. But there's been zero rental income for at least 6 months now (plus whatever they weren't paying before he finally had the police escort them out after YEARS of trying to get that done), and Illinois has SUPER HIGH property taxes. I know that he can write off a lot of this stuff as losses and he knows how to do it, but he's still getting creamed right now. He was paying over $260 per month just in natural gas alone this winter just keeping the house warm enough so the pipes wouldn't burst.
He needs to get rid of this house. It's gorgeous, but even under the best conditions it's a money pit. It's just too old and the design isn't something that they'd even be allowed to make today. The house is over 100 years old, and I'd bet it's even hard to get insured.
--------------------------------------------------
Growing up in a Republic was nice... Shame we couldn't keep it.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:
Originally posted by SIGNYM:Quote:I guess I had my Sunday yesterday, today is almost a regular "work" day for me excpet I ot out of bed late. Time to get back to it, my list of "things to do" gets longer and longer every time I think about it. Have a nice one. Do something fun!
Originally posted by Brenda:
Just a Sunday around me. Not much happening.
-----------
"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger
My to do list starts tomorrow with some actual grocery shopping.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Out for my walk soon on a bright but not overly warm day.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Back from my walk and though the temp has gone up it is still very cold out.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Family is sick. Headache, sore throat,stuffy drippy nose, low grade fever, cough. It's not Covid- I know, I tested them! But they're miserable. I'm serving chicken soup tonight.
As for me... my eyes and nose drip all the time (chemo side effect) so I wouldn't know if I was sick or not. I had a scratchy throat a few days back, but I think I'm ok!
-----------
"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Was talking to someone I know about my book today and she already has me doing a book tour. *L*
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:I hope so! How exciting!
Originally posted by Brenda:
Was talking to someone I know about my book today and she already has me doing a book tour. *L*
-----------
"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Awwww... sorry about your family, Sigs. Hope everyone feels better soon.
Quote:
Originally posted by Brenda:
Was talking to someone I know about my book today and she already has me doing a book tour. *L*
Wow, Brenda. That sounds great! 
I put another piece of the puzzle together on the dread work I was talking about today. I'm still going to have a lot to do.
I'll probably be helping on the rental next Saturday, but maybe not with Sunday being Easter. His family is big into the holidays. May or may not help my other buddy this week with his kitchen, but that's not going to happen until I make it through this next round of terrible storms over the next 2 days. :(
I seem to have put on a few pounds. At least it's trending upward. Been between 149 and 151 lbs for 2 days now, which is up from the low of 146. But jeez... do I have to eat a lot right now. I must have put my metabolism in hyperdrive. You wouldn't believe how much I'm eating. It's almost a chore at this point.
Feeling my energy pick back up. Once I get back to about 153 I'm going to start working out about 30 minutes a day and hopefully all these new good habits stick after a few weeks.
--------------------------------------------------
Growing up in a Republic was nice... Shame we couldn't keep it.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:
Originally posted by SIGNYM:Quote:I hope so! How exciting!
Originally posted by Brenda:
Was talking to someone I know about my book today and she already has me doing a book tour. *L*
-----------
"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger
I think we need to rein things in. Getting a foot in the door with publishers on either side of the line is hard.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME