At one time, I owned six separate rental properties in CO Springtimes, but my plan was to continue to purchase properties plus create a big annually income, however as I paid off the mortgages, the rents would go into my pocket, then it seemed like the perfect retirement plan, but unfortunately, the renters became a big problem.
I invested quite a bit of money into modernizing plus fixing up the properties. I obtained new water heaters, appliances, windows, security systems plus Heating and A/C units. I installed smart thermostats, carbon monoxide detectors plus smoke detectors. I added some flair with appealing faucets, cupboards, vanities plus light fixtures! Despite being extremely careful with vetting potential tenants, I ended up with nonstop concerns, the renters continually called me with complaints. They complained about everything from air quality plus noise to water pressure plus paint colors, and no one paid their rent on time, several of the tenants smuggled cats plus cats into their apartments despite our no-pet policy. They also lied about the number of people living in the unit. They failed to take out their garbage, mow their shrubbery or handle even the self-explanatoryst cleaning plus upkeep. I went through several eviction processes… When one of my rental properties caught fire because a tenant fell asleep while smoking, I’d had enough. Although I considered contacting a real estate agent, I wasn’t willing to make a lot of repairs or deal with months of negotiations. Instead, I submitted an online contact form to a cash homebuyer. They answered with a cash offer within twenty-four hours. There were no contingencies. I simply accepted or declined, once I agreed, the closing was reached easily suddenly.