Two weeks ago I sold my last two multi-family properties. It took almost four months. I felt a little sad - for about 5 minutes.

I received an e-mail from a tenant a few days ago from a tenant would wondered if I know where and how he paid rent, as he hadn't heard from the new owners after two weeks.

At another building a tenant send me a photo of trash piled up next to a dumpster.

In the news, the queen - sorry, the governor of Colorado issued an edict that rent deficiencies can't be acted on for 30 days. It used to be three, then ten.

There is a news article today saying that property taxes will soar soon.

I feel so glad to be out, but I hope you guys have everything on track.

There are two schools here: Investor who look at one thing: Profit.

And others who look at profit and the rest of it. The government meddling was something that I couldn't handle. Obviously others can live with it, or I couldn't have sold my buildings.

How are things going in your state?

Welcome to the Sold Club.

Congratulations, I know the feeling of freedom. Two cycles ago, from 1990 to 2007 things went crazy with liar loans, interest only, pay as you go, negative amortization and other crazy products being resold by Wall Street.

The experts at the time said, "Sell your worst properties" since anyone could get a loan and "landlords" were being replaced by "investors" -- big difference.

Also back then the long term federal tax rate was going up from 15% to 20%. My State (California) was raising their high tax rate from 9.3% to 13.3%. And then the creation of the Affordable Care Act, adding another 2.9% in taxes. And I haven't said a thing about 25% recapture from depreciation taken.

Back then I sold tons of my worst properties... Some I did 1031 exchanges while some I just paid my taxes.

I went from working 10 hours a day, 7 days a week dealing with my low-income tenants and other "C" grade areas, to now working a few hours a day our just a few days a week....

You weren't kidding Jeff, you went through with it...I wasn't sure if you would or not when you first stated you were selling. I admire people who follow through and actually do what they say.

Selling all units off isn't for everyone but I can see why some people would do it, especially if they live in certain states that are out of control.

Congrats, and sounds like you got out at the right time.

Congrats on your good timing. It sounds like you were very decisive with your course of action.

Are you going to stick around in CO for the pretty scenery, or are you going to use your new freedom for greener pastures elsewhere, even if you decide not to reinvest any time soon?

Congratulations Jeff.

Things are going well in the show me state. Been selling some flips and buys are all off market.

Congrats, Jeff! There's freedom, then there's no phones ringing. Some day, we all want to be pretty much out of the daily grind, I think. Well, except for a few of us who really enjoy self-flagellation! (*grins)

I do hope you chime in here still. You have years of experience that are still valid.

As Dave[MO] said, Missouri is full steam ahead on evictions for non-payment and/or other lease violations. My attorney has recommended filing not only for the rent, but also to comb thru the lease and find any other violations so we can include them both, just in case someone pulls a last minute fast one with a CDC form. As we all know, many of our tenants have one or more violations, but we typically let the minor ones slide a bit out of the goodness of our heart or the laziness of our inspection cycles.

Were I in your location, I'd probably be doing what you're doing. Now is a great time to cash out and enjoy the fruits of one's labor. As Jeffrey said, those of us who remain have some challenges ahead, and we will have to make the best of it.

All the best to you. Thank you for your words and wisdom throughout the years, and hope to keep hearing more!

Hi everyone! Great to hear from you. There are landlording hobbyists, and there are landlording professionals. You folks are the pros, obviously.

Jeffrey, thanks, and thanks for all you do with this website. It's appreciated by many.

Fingers crossed, Hoosier. Good luck.

J, I appreciate that. I know what you mean. Many people lack follow-through. They just talk. I despise that. I gotta say, selling requires a huge amount of work. LOL (coding)

Deanna, thanks! That's cool you lived here. I would like to get out of Colorado and into another western state, but I don't know where. I like the color blue, but not in politics. :)

Sounds like good work, Dave.

6x6, I hear that.

RB, Ken, Robert, much obliged. Always good to hear from you guys.

Still Learning, it sounds good for now, and probably will be for a while.

S i d, thanks a million! I appreciate your post. My phone never rang, though. Always e-mail. :) (I had to get that in there). Sounds like things are looking up in Missouri. You know what you're doing and you're one of the ones most likely to continue to prosper.

As I mentioned before, I have moved a fair amount of cash into a Jones, Lang, LaSalle DST (Delaware Statutory Trust) via a 1031 Exchange. If you do that, you will defer taxes and be a silent partner in apartment buildings, office buildings, warehouses, etc.

Thanks again, and I will continue to see you guys on these pages.

Hi Jeff! Thanks for coming back and telling us about your rentals. Congratulations!!!

I'm still hanging in there with my rentals. Our great state of Colorado has gone to hell but I am hanging on. Yep, property taxes are thru the roof...mine went up 33% on a couple of buildings.

So I increased rents. Told the tenants why and to contact their legislators to complain. I have been writing legislators for two years - I can't wait til I can go down in person. No one has given me notice that they are moving yet.

I still like working on rentals so far. I went down the rabbit hole with the state programs for tenants. A paperwork nightmare but I felt the tenants (3 out of 49) deserved to be helped. Payments approved but I haven't seen squat yet.

Congrats!!

I am down to one last SF in the hood ...S8 tenant. Not going anywhere anytime soon.

You really did it.

Jeff,

Congrats!

I hope you made a handsome profit on each sale!

BRAD

Hey peeps! I was going to post an update to my recent mobile home antics this afternoon, but it seems Jeff has joined me in the ranks of "landlords emeritus."

I'm not going to say "congrats" Jeff, but instead I'll say, "Follow your dreams, or make NEW dreams and PROTECT what you got." As much as we want to it doesn't seem there is any way to fight the extreme regime swings or stem the tides of insanity tugging our nation. It's time to get ready for a rough ride ahead.

I'm glad we got out of residential rentals when we did. I had some sellers remorse as rates went up right after we sold, but then when covid came along I wanted to stick my tongue out, "Nana-nana, ya missed me!" LOL

As to how things are going in my state? We are so isolated here in our desert valley that I really am out of touch with all the unrest except what we see on TV. But I will say Arizona is doing it's best to become the Alabama of the west, with more ignorant laws being passed every day and an invasion on our southern border that nobody seems interested in stopping. And with every vote both state and federal along party lines I don't feel very good about the future.