- May 3, 2010
- North Shore
My tenants are still employed, still paying rent.How does an multi apartment owner make money now? The tenants don't have jobs so they are no longer paying rent.
I dunno about that. I own my rental prop outright. My rent prices are at average for the location. After maintenance, routine repairs and replacements, taxes, heating (I pay the heat) electrical for common spaces, insurance, grounds keeping, snow removal and normal painting, I cleared $3K. Remember that is without a mortgage and interest payments. I cannot fathom how people can pay a mortgage and stay above the red line.It doesnt matter bro, landlords are like so rich, they are the 1%. Those greedy bastards charge too much.
I put more than 4K a year into property updates. I have to replace 11 double hung single pane windows this year. It's an old exterior porch converted to unheated interior in the 50's. Price 11 thermopane windows and replacement costs. And that's just this years scheduled updates.