# Ehat do you think l should do with these blocks ?



## whitehawk (Aug 14, 2012)

Divorced now. We sold the house and l didn't come out of it with much but l have no idea where l wanna move to yet , maybe buy again later. So l'm just renting for awhile for now , close to my daughter,13.
But l've still got these 2 blocks.
They're only worth about 40k , rural town an hr away. l hate going over there and looking after them but ones got a little cabin l can rent out for 100pw if l spent a k or 2 cleaning it up.
So they could bring in 400pmth towards my rent now or a new mortgage later, indefinitely really until one day later l sold them. l don't owe anything on them but rates and the costs going over to check them and mow is a pain and costs a bit. l'd really rather they were just gone. Use that money towards my new place later. But the 400pm might make more sense though .

What do you think , sell them of or keep for the cash flow ? l need to make up my mind as soon as l can .

ps , scuse the mistake in title , can't fix.


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## Rowan (Apr 3, 2012)

If you don't want to deal with the aggravation and expense of cleaning them up, keeping them in good condition, and dealing with renters over the long haul, then it's probably best to sell them outright if possible. However, you'd need to get them cleaned up before trying to list them and keep them maintained while they're on the market. That being the case, you might consider doing the work to fix them, putting them up for sale, and then renting them out until they sell.


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## nice777guy (Nov 23, 2009)

Being a landlord can be a major pain in the rear end.

Are you good at fixing things? If not - I would consider selling instead of fixing up to rent.


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## Jetranger (May 31, 2013)

Can you get a management company to take over looking after them in exchange for a fee?


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## Hicks (Jan 14, 2011)

It's a personal decision.
If you were to invest $42,000 in a bond fund, you would not get anywhere near $400 per month. Maybe more like $100 if you are lucky. But there is no work to owning shares in a bond fund, and the expenses are deducted from the return so you don't really notice it.


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## Why Not Be Happy? (Apr 16, 2010)

Just from your short write up----SELL
(almost 30 years of full time real estate experience here)


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## Fozzy (Jul 20, 2013)

Jetranger said:


> Can you get a management company to take over looking after them in exchange for a fee?


:iagree:

If it makes financial sense, I'd have a management company do it for me and keep the positive cash flow.


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## whitehawk (Aug 14, 2012)

nice777guy said:


> Being a landlord can be a major pain in the rear end.
> 
> Are you good at fixing things? If not - I would consider selling instead of fixing up to rent.



Yeah l've heard that . Seems to go ok though if they can get good tenants, nother story l spose.
But yeah l'm pretty handy.


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## EleGirl (Dec 3, 2011)

Since you don't really want to put the time and money into maintaining them, sell. 

I've done the land lord thing before.. never again. The renters caused more damage to the property than I collected in profit.


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## whitehawk (Aug 14, 2012)

Hicks said:


> It's a personal decision.
> If you were to invest $42,000 in a bond fund, you would not get anywhere near $400 per month. Maybe more like $100 if you are lucky. But there is no work to owning shares in a bond fund, and the expenses are deducted from the return so you don't really notice it.



See this is my issue. $400pm, and you still own the blocks to sell of one day , or put up against a new mortgage later, the rent onto your new mortgage , seems like an obvious really .
But it means still having to worry about them l guess , fix, tenants.


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## EleGirl (Dec 3, 2011)

How much a month will it cost you to keep the places up?


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## whitehawk (Aug 14, 2012)

EleGirl said:


> Since you don't really want to put the time and money into maintaining them, sell.
> 
> I've done the land lord thing before.. never again. The renters caused more damage to the property than I collected in profit.


Ahh really , yeah you hear that one a lot.
That l sure do not need after everything else.

700 a yr in rates and insurance, that's about it.
l'd be hoping to just get in a guy that wanted long term and happy to mow and look after them, in exchange for the cheap rent.
Dunno if it would work out that way though


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## whitehawk (Aug 14, 2012)

Why Not Be Happy? said:


> Just from your short write up----SELL
> (almost 30 years of full time real estate experience here)



You think , is that because tenants and land lording average out a nightmare in the end usually ?


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## whitehawk (Aug 14, 2012)

EleGirl said:


> Since you don't really want to put the time and money into maintaining them, sell.
> 
> I've done the land lord thing before.. never again. The renters caused more damage to the property than I collected in profit.



That bad hey, Was there any way of just trying to get good tenants? Or a sort of for every 1 good one, the next 1 trashes the place scenario ?


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