Haven’t post much about long term rental lately, which is a good thing! As they said, boring is sexy in real estate investment!
Luckily it has been boring for me untill..the snow storm hit Texas and the pipe bust just like that at one of my rental
Luckily the tenant is in the process of moving out already since they just bought a home. This is what i call sheer luck. However, what even more lucky is that I have a great Insurance agent that always give me good advise on what kind of policy to buy on the rentals, and what coverage should I get.
Lesson learn from this is that you are only as good as the people around you and especially theirs advise. So..hang out with the right people, and don’t pay attention to the wrong guy
Long story short, I was able to work with the insurance company to get the payment i need to fix up the home and it is looking better than ever!
Can’t wait to welcome the next tenant into it
Thinking about selling it but when i look at how much capital gain tax I have to pay on the profit, I decided to keep it. If i need the equity. I will just refinance it out.
Housing price in Houston right now is just crazy. It is unhealthy to have this kind of price increase in my opinion since the wages can not keep up with the house price. This is resulted directly from the fed printing too much money and result in our dollar being worst less and less, and people end up have to shift their wealth into real estate and other assets, resulted in artificially asset price increased..and round and round again in this rabbit never ending hole…:)
How are you going to position yourself, your asset, your wealth from all this craziness?