Why I Quit Being a Landlord - Rental Property Investing - How to Invest in Real Estate
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- Опубліковано 24 вер 2024
- For those viewers who are interested in rental property investing and cash flow, here is a video of why I quit being a landlord and let the professionals do it for me. If you want to learn how to invest in real estate please follow this channel and like the content if you found value in this video.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
I’m a landlord myself and it’s time now for me to be done with it because it’s hell
Same here. It's boring work and a damn hassle. Have done it for 10 years. Up to here with it to be honest
This is gold for me, thank you!!
I have always been interested in what happened in Detroit, and seeing it move forward is great. Emilio, you are great on camera and I am enjoying watching your videos.
Thank you very much! I'll do my best to add more.
Caveat. If you’re in the construction trade self management is the best way to go. Also, processes are your friend. If payment is 5 days past initial due date then start eviction process. No empathy required. It’s just business and we’re all adults. Thank them when they call with problems so you can address them quickly. And then address them quickly. Whether that’s calling a plumber or doing it yourself. Get you a maintenance guy. Give him a free apartment and treat him like a partner. With all that set up then you just do what you enjoy doing.
Thank you for the advice
being a landlord is shyt. i'm slowly quitting. I just sold one property. I still have another one, and i dont wanna sell it now as capital gain is really high now.
It definitely is getting tougher especially since property taxes are getting higher. If you're selling I'm interested in buying. Can you message me here? linktr.ee/emiliobasa
Great job. Straight to the point, straight up facts! 🎤 Keep on moving on!
Thank you so much for the feedback! Hope you stick around.
The biggest problem with your position is you won’t be able to take real estate professional status for schedule E.
I’d have to talk to my accountant about that one
Omg this is my experience! I tried to manage three Florida properties from LA on my own - stressful! I found the best property manager - saved me money and stress free - do you have a video on finding a good property manager in Detroit?
No such thing.
I have a good one. Just message me here and I’ll share the details. linktr.ee/emiliobasa
Super helpful, thank you!
Glad it was helpful! Thank you for watching. Anything else you want me to cover?
That’s for the videos! Boyfriend and I are 25 moving to Detroit from CA. We are excited to actually be able to afford real estate. I’m going to binge your videos to get the best idea on where to start. We’ll be moving to detroit this summer
When are you coming to Detroit? If you need help please reach out to me here. linktr.ee/emiliobasa
Great info. Thanks for continuing to sharing.
And thank you for watching VS!
Solid advice as always
Thank you as always David!
very informative video! Thanks
Glad it was helpful!
I ABSOLUTELY enjoyed this video as with the last one where you did something different ( walking the streets of downtown ) I had only ONE property ( a VERY SOLID structure that I REALLY enjoyed owning ) but usually just rented to family and some that weren’t ... I ended up selling 5 years after I had moved out because I it was just difficult to go and even cut the grass, and i wasn’t even renting it out that whole time .. that made me thing I’m not cut out for that type of business...but I was wondering if I could ask what are some GOOD tips for finding GOOD RELIABLE contractors . If you are willing to share ? I know it is said word of mouth and I suppose ANGIE and other web sites ... I’ve had problems even getting folks from near suburbs to come for estimates.. And I live in what would be considered a decent area ( Green Acres ) this question may help some of your other viewers THANKS in ADVANCE !
That’s a problem that a lot of Detroit investors have. That’s why we started doing the rehabs for new clients. If you need help let me know! There’s a linktr.ee account link in the description
Hey bro for the pros sode...wouldn't it make sense to have an LLC for the property investing company and a separate LLC as a property management company and pay yourself to manage your own investments...so you can double dip on the taxes legally bc you have 2 separate companies.
You could do that. I don’t want to manage my properties anymore.
Can you explain your business model on how you can help me as an investor if we work together. Are you a project manager essentially?
I'm a wholesaler, buyer and project manager for renovation projects, however, I'm not a property manager but I have a lot of contacts. Message me here: linktr.ee/emiliobasa
What do you recommend if you have an issue with your property manager. I wanted to submit a complaint but she refused to give me the property management companies corporate number.
I'm not sure what to do with something like that. At the end of the day, you're the client and you can fire them. Do you need a good one? I have one I can send you.
I’m referring to me being the renter and the apartment property manager being rude.
Ah got it. Not sure how to work that one out. Maybe move to another place that has a better property manager ?
If you’re too nice, get a property manager
Yup! That's what I did. Best decision I made.
There are times I wonder if it wouldn't be better if I wasn't in the picture 😅😢
Hey Emilio, can you refer this property management person? Thanks!
Hey JP. I think I answered this for you, right?
I’m in the process of giving away my first property.. but contract looks kinda suspect. I do agree with everything you said tho !!
Giving away your first contact??
Hi Emilmo 👋 how are you today and wonder do you have any properties that you owned please
Hi CeeCee. Thank you for watching. I’m good. Did you want to ask a question? Reach out to me with my linktr.ee link in the description
@@QuickPropertySolutions yeah I wonder do you still have any house available please
great video! do you do property managment?
I don't, but I have a good property manager if you need one. Message me here: linktr.ee/emiliobasa
Why hundred property why not shoot for one huge property ?
I might do that too.
What management company do you use?
I use Lenox Property Management. Send me a message and I'll send their contact info: linktr.ee/emiliobasa
Hi Emilmo how are you and I got a question please
Sure thing! What is your question?
@@QuickPropertySolutions when you buying house from detroit land bank also fixing it up will the house be your or what
moral over profits
Yes. But sometimes you have to be the bad guy if they aren’t holding up their end
@@QuickPropertySolutions You're not the bad guy. If they signed a lease, broke the agreement, you're simply enforcing policy. Just like a cop. I'm a renter and have never owned a home.