Like Tree0Likes

Any multi-family unit landlords out there ?

Reply
Old 11-18-2004, 11:47 AM
  #1
Registered
Thread Starter
 
26scarab's Avatar
 
Join Date: Mar 2001
Location: st. clair shores mi ,us
Posts: 1,620
Default Any multi-family unit landlords out there ?

Myself and two others recently aquired 4 buildings (total of 42 units) and I would like to ask someone that has done this some questions. We are into our 2nd month and are having some issues.
26scarab is offline  
Reply With Quote
Old 11-18-2004, 12:37 PM
  #2
Registered
 
Join Date: Jul 2004
Location: NJ/FL
My Boats: 02 Cigarette Tiger TS
Posts: 75
Default Re: Any multi-family unit landlords out there ?

You have a PM
nevercanstop is offline  
Reply With Quote
Old 11-18-2004, 12:38 PM
  #3
Registered
 
hugetime1's Avatar
 
Join Date: Jun 2003
Location: Lake George Area NY
My Boats: 1997 hustler sport
Posts: 2,075
Default Re: Any multi-family unit landlords out there ?

give me a call if you want, I have owned rentals for the past eight years and have dealt with every issue you can imagine. 239 458 0474
hugetime1 is offline  
Reply With Quote
Old 11-18-2004, 01:11 PM
  #4
Platinum Member
Platinum Member
 
SeaRay Jim's Avatar
 
Join Date: Oct 2002
Location: DFW, Texas
My Boats: SeaRay 240 Sundeck - 540cid
Posts: 1,053
Default Re: Any multi-family unit landlords out there ?

I'm interested in what kind of issues you're having and what suggestions you get to handle them.

I wasn't planning on multi family (unles I could find duplex type of deal) but I've come across a small apartment building so it has me thinking.....
SeaRay Jim is offline  
Reply With Quote
Old 11-18-2004, 01:11 PM
  #5
merlin540
Guest
 
Posts: n/a
Default Re: Any multi-family unit landlords out there ?

i have 33 units, all 1 bedrooms and i have heard every story and game there is and i dont take bull****. i am the king of being a slumlord and i am good at it call me 513-477-2780 charlie aka BIG LOU THE SLUM LORD HAHAHAHAHA
 
Reply With Quote
Old 11-18-2004, 05:36 PM
  #6
Registered
 
baronmarine's Avatar
 
Join Date: Feb 2004
Location: ada/grand haven,mi
My Boats: Formula 400 SS/Lipship38Topgun/ 19' baron Surface drive/13'6" dux inflatable cat 50hp
Posts: 1,323
Default Re: Any multi-family unit landlords out there ?

i have owned rentals for the past 20 years and i have heard it all.
baronmarine is offline  
Reply With Quote
Old 11-18-2004, 05:40 PM
  #7
Gone Fishin'
Charter Member
 
Waterfoul's Avatar
 
Join Date: Nov 2000
Location: Grand Rapids/Holland/Grand Haven
My Boats: 1988 Tracker Pro 17, 40 hp Mariner.....1972 Glastron GT 140, Merc 50 power!!!
Posts: 7,408
Default Re: Any multi-family unit landlords out there ?

You could always talk to Jack at offshorepowerboats.com (he was Cashbrain here on OSO)

He owns many multi family buildings in the Chicago area.
__________________
[b]M Go Blue.......Gator boots, gator luggage, gator purses... all at cut rate deals!!!!
Waterfoul is offline  
Reply With Quote
Old 11-18-2004, 09:40 PM
  #8
Registered User
 
BAJA WILL's Avatar
 
Join Date: Feb 2001
Location: Tampa, Indian Shores Beach
My Boats: Don't even mention the word boat
Posts: 3,300
Default Re: Any multi-family unit landlords out there ?

I worked for a mgt company during college, my division had 1644 units 1-4 bedroom. As stated here I have sceen and heard it all. From units burning up, lawsuits, balcony giving way, kids falling off balconys, pet damage, fights, the list just goes on.......

feel free to pm me with questions, if it is regarding kicking out people or collecting money, you need to speak with someone in your own state.

WILL
BAJA WILL is offline  
Reply With Quote
Old 11-19-2004, 12:03 PM
  #9
Registered
Thread Starter
 
26scarab's Avatar
 
Join Date: Mar 2001
Location: st. clair shores mi ,us
Posts: 1,620
Default Re: Any multi-family unit landlords out there ?

Thanks for the replies

I will answer them hopefully this weekend.

Basically in a nutshell
Myself and 2 others aquired these places with know real business plan, hardley any working capitol and full time jobs. They were run down and completely unorganized as far as leases and rents. I think the previous owners were barely making it.
We started out the first month basically chasing our tails and learning how to work with each other and having difficulties with that. We also lost some tenants and burned thru our working capitol which leaves us barely enough money coming in to pay the payment. The places need need some renovation and tenants.
right now we are just floating above water. I know they can be turned around but am finding out that this stuff is a lot harder than Carelton Sheets said it would be.
Are any of you doing this stuff while maintaining full time jobs ?
26scarab is offline  
Reply With Quote
Old 11-19-2004, 12:29 PM
  #10
VIP Member
VIP Member
 
Join Date: Jul 2004
Location: Dallas, Texas
Posts: 61
Default Re: Any multi-family unit landlords out there ?

All I can say is good luck, I have 3 rent houses and a couple of duplexs and those give me more than enough headaches.
mxracer50 is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
AugiePensa
OPA/The Jersey Boyz
6
11-20-2003 09:09 AM
IDRPSTF
General Boating Discussion
11
02-02-2003 12:11 AM
Audiofn
General Boating Discussion
22
09-23-2002 02:03 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 04:07 PM.


Copyright 2011 OffShoreOnly. All rights reserved.