Property

I’m thinking again of buying some rental property. I considered doing this about a year and a half ago while I was still working but I opted not to since I was so busy doing full-time school along with a full-time job. But now here I am, school only keeps me minimally busy, no job on the horizon, some cash burning a hole in my pocket and foreclosed properties abound.

I think I am going to empty my coffers and pay cash for a somewhat-distressed multi-family property with 3-4 apartments, fix it up right quick, and start renting out the units as soon as I can next spring. I need to wait until the next tax year to do it for various reasons.

Land lording is something I’ve read a lot about, and talked to a lot of landlords about. It’s something I’ve thought I’ve wanted to try for several years now. So I think it’s about time to dive in.

If it works out and I find land lording suits me I think I’ll likely make a career of it. I could likely afford a second property before I finish grad school. I estimate 4 or 5, 3-4 unit apartment buildings would be akin to the full-time salary I’d get if I just went and got a full-time job after school. I think I’d much rather fix a leaky faucet, clear some snow, or replace a broken window now and then than get up at 6am everyday, dawn the suit, and deal with office politics and low-lifes for the same $.

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