Moving, take stove?

[boo boo]

Hooo, not so fast.

Had 26 income properties. Started buying them when I was young. Planned on making them my retirement income. Did not take long to learn that if that was my route to retirement I would never get to retire.

Just trying to keep long term tenants is tough but 26 properties is a full time job x 3

 

[boo boo]

So anyway to the OP
96% say bring the stove to 4 % leave it 24 to 1
What is yours?

 

[smwilliamson]

Tenancy stoves are a very bad idea and will serve to be a pia

 

[Don2222]

Tenancy stoves are a very bad idea and will serve to be a pia

One of my customers not only charges more rent because her rental unit has a pellet stove but also does not pay for fossil fuels and worry how high the TSTAT in the rental unit is when no one is there during the day!

 

[Old Spartan]

Whats oil go for in fairbanks ak? I agree rental properties suck, things can go from good to needing to do 10g in repairs in a blink of the eye. Id sell it and invest the revenue probably better off, less headaches at least.

THIS !!

 

[devilsbullet]

What are pellets going for out there?

http://portland.craigslist.org/wsc/fod/4930383857.html nuff said. haven't seen over 240 a ton all winter, think it was for bear mountain. most have sat in the 200-225 range.

 

[GeHmTS]

Owning a stove is a privilege not to be taken lightly. It's not that cold in the pacific northwest so I would just sell it. Definitely, don't leave it with renters because they might just burn down your property.

 

[devilsbullet]

Owning a stove is a privilege not to be taken lightly. It's not that cold in the pacific northwest so I would just sell it. Definitely, don't leave it with renters because they might just burn down your property.

tell that to my wife...shes cold when its 70 degrees. entire reason I got a stove was for her, I'm golden in jeans and a tshirt down to about 40 or so, might need a jacket after that.

 

[GeHmTS]

ok, well take the stove just in case. good luck with the move.

 

[yrock87]

Not that I'm ignoring you all but I am inclined to keep it in the property. Still have time to do some more research. Find out what I can sell it for in Craigslist and how much an annual service is gonna cost me as I won't be around to do it.

Fuel oil is still in the mid $3 range up here. And that price won't last. It was nearly $4 before crude started dropping.

I'll keep you all in the loop as I move forward.

 

[Old Spartan]

Sounds like you bit off more than you could chew. Sometimes expanding doesn't make things more profitable. Especially if mismanaged. Not saying you mismanaged mind you. There's a difference between being able to buy and manage a few properties and managing 26.

Shouldn't the income from 26 paid off rental properties pretty much fund retirement? If that won't than how do people with zero properties have the money to retire? Publicly funded pensioners not applicable.

Certainly 26 properties (96 rental units) provided income a plenty. It did not however equate with being retired. Managing it was work, a job if you will, the polar opposite of being retired.

There is a HUGE difference between being retired and being self employed.

Then again, the properties did fund retirement. The profits, well invested into income producing bonds and equities, added a nice saddle to our underlying pensions. The beauty is that those investments require little to no work.