Former Landlord Here
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Former Landlord Here (by Jeff [CO]) Apr 27, 2021 5:35 PM
       Former Landlord Here (by Jeffrey [VA]) Apr 27, 2021 5:56 PM
       Former Landlord Here (by Ken [NY]) Apr 27, 2021 6:09 PM
       Former Landlord Here (by RB [MI]) Apr 27, 2021 6:30 PM
       Former Landlord Here (by plenty [MO]) Apr 27, 2021 7:18 PM
       Former Landlord Here (by Robert J [CA]) Apr 27, 2021 7:25 PM
       Former Landlord Here (by J [FL]) Apr 27, 2021 7:38 PM
       Former Landlord Here (by Hoosier [IN]) Apr 27, 2021 8:23 PM
       Former Landlord Here (by Deanna [TX]) Apr 27, 2021 9:07 PM
       Former Landlord Here (by Still Learning [NH]) Apr 27, 2021 9:11 PM
       Former Landlord Here (by 6x6 [TN]) Apr 27, 2021 10:07 PM
       Former Landlord Here (by Dave [MO]) Apr 27, 2021 10:32 PM
       Former Landlord Here (by S i d [MO]) Apr 28, 2021 8:40 AM
       Former Landlord Here (by J [FL]) Apr 28, 2021 8:41 AM
       Former Landlord Here (by J [FL]) Apr 28, 2021 8:41 AM
       Former Landlord Here (by Jeff [CO]) Apr 28, 2021 9:25 AM
       Former Landlord Here (by handymomma [CO]) Apr 28, 2021 9:26 AM
       Former Landlord Here (by tryan [MA]) Apr 28, 2021 9:29 AM
       Former Landlord Here (by Oregon Woodsmoke [ID]) Apr 28, 2021 10:00 AM
       Former Landlord Here (by WMH [NC]) Apr 28, 2021 11:38 AM
       Former Landlord Here (by BRAD 20,000 [IN]) Apr 28, 2021 4:23 PM
       Former Landlord Here (by Tim [CO]) Apr 28, 2021 6:13 PM
       Former Landlord Here (by LTD [AZ]) Apr 28, 2021 8:42 PM
       Former Landlord Here (by 6x6 [TN]) Apr 28, 2021 8:48 PM

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Former Landlord Here (by Jeff [CO]) Posted on: Apr 27, 2021 5:35 PM
Message:

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?

--76.120.xx.xxx




Former Landlord Here (by Jeffrey [VA]) Posted on: Apr 27, 2021 5:56 PM
Message:

Hey Jeff, peace of mind is priceless! So congratulations on being able to do what was best for both your mental health and your wallet") Pray for the rest of us that we have the wisdom to make the best decisions for our individual situations moving forward. And please, do not be a stranger. Stop by every now and then and offer advice from your many years of real-world experience. Your input will be welcomed and appreciated by many. --70.161.xxx.xxx




Former Landlord Here (by Ken [NY]) Posted on: Apr 27, 2021 6:09 PM
Message:

Congratulations, i am selling and will do flips only,in the course of doing flips i will still be dealing with tenants.I dont want to deal with the govt meddling as well but no shortgage of buyers here --72.231.xxx.xxx




Former Landlord Here (by RB [MI]) Posted on: Apr 27, 2021 6:30 PM
Message:

Welcome to the Sold Club.

--199.192.xxx.xxx




Former Landlord Here (by plenty [MO]) Posted on: Apr 27, 2021 7:18 PM
Message:

Congratulations. Wise move. Come to Nashville and celebrate! --172.56.xx.xxx




Former Landlord Here (by Robert J [CA]) Posted on: Apr 27, 2021 7:25 PM
Message:

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....

But with laws making "rent" optional for tenants to pay and taxes going up, I see the writing on the walls and want to sell more.... --47.155.xx.xxx




Former Landlord Here (by J [FL]) Posted on: Apr 27, 2021 7:38 PM
Message:

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.

--72.188.xxx.xxx




Former Landlord Here (by Hoosier [IN]) Posted on: Apr 27, 2021 8:23 PM
Message:

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

Nothing new (except pandemic) in Indiana where I am. --99.92.xxx.xxx




Former Landlord Here (by Deanna [TX]) Posted on: Apr 27, 2021 9:07 PM
Message:

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?

(Lived in Boulder for four years and loved camping in RMNP...) --137.118.xx.xxx




Former Landlord Here (by Still Learning [NH]) Posted on: Apr 27, 2021 9:11 PM
Message:

Congratulations! Hope you enjoy your free time. I am thankful to be in a state with the motto live free or die currently being led by a moderate Republican governor. Staying the course here at least for now. --75.67.xxx.xxx




Former Landlord Here (by 6x6 [TN]) Posted on: Apr 27, 2021 10:07 PM
Message:

Congratulations Jeff.

I am guessing that these laws will just keep getting worse and start spreading but I hope not. --73.120.xx.xxx




Former Landlord Here (by Dave [MO]) Posted on: Apr 27, 2021 10:32 PM
Message:

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

Courts are open. --173.216.xxx.xx




Former Landlord Here (by S i d [MO]) Posted on: Apr 28, 2021 8:40 AM
Message:

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!

--107.216.xxx.xxx




Former Landlord Here (by J [FL]) Posted on: Apr 28, 2021 8:41 AM
Message:

So Jeff, I have to ask...what's next? Are you going to learn to code? --72.188.xxx.xxx




Former Landlord Here (by J [FL]) Posted on: Apr 28, 2021 8:41 AM
Message:

So Jeff, I have to ask...what's next? Are you going to learn to code? --72.188.xxx.xxx




Former Landlord Here (by Jeff [CO]) Posted on: Apr 28, 2021 9:25 AM
Message:

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.

--76.120.xx.xxx




Former Landlord Here (by handymomma [CO]) Posted on: Apr 28, 2021 9:26 AM
Message:

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.

Best of luck to you in what ever new endeavor you choose. --74.121.xx.xxx




Former Landlord Here (by tryan [MA]) Posted on: Apr 28, 2021 9:29 AM
Message:

Congrats!!

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

Everything else is vacation rentals. Covid has been a BOOM ... everybody itching to travel. Paid up front, in full or NO KEYS. Different market. No evictions, no deadbeats. --71.241.xxx.xxx




Former Landlord Here (by Oregon Woodsmoke [ID]) Posted on: Apr 28, 2021 10:00 AM
Message:

You really did it.

Now you can watch the craziness and shake your head and be glad that you got out in time. --76.178.xxx.xxx




Former Landlord Here (by WMH [NC]) Posted on: Apr 28, 2021 11:38 AM
Message:

Good luck to you! Do you have an idea for "what's next?" --50.82.xxx.xxx




Former Landlord Here (by BRAD 20,000 [IN]) Posted on: Apr 28, 2021 4:23 PM
Message:

Jeff,

Congrats!

I hope you made a handsome profit on each sale!

BRAD

--73.102.xxx.xxx




Former Landlord Here (by Tim [CO]) Posted on: Apr 28, 2021 6:13 PM
Message:

Denver’s about to pass a “healthy housing for all” licensing program due to a few slumlords making the news. Requires LL to have inspections to get license, register and pay certified inspectors. LL I’ve spoken to are getting out as we see the CA rent controls coming up next, while the city complains there’s inadequate affordable housing. Rents are rising fast, before the tide of changes hit. LL will be required to meet ADA specs, and SFH LL with older housing are selling as they won’t be able to comply with wider halls etc. yep good time to move to greener pastures for sure! --71.211.xxx.xx




Former Landlord Here (by LTD [AZ]) Posted on: Apr 28, 2021 8:42 PM
Message:

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.

Sales here are still great though. We are in escrow on the manufactured home we set a couple weeks ago. We went into escrow on Monday! So my work is done for awhile. :) We have more unit on order for June and it might be the last unless I can find another lot pdq, AND depending upon these new taxes the regime seems bent on imposing. I was on track to have the best year since 2005 but if I have to pay half my income in taxes I'm going to quit. Again. I wish I'd listened to my spouse when she said we should buy Bitcoin when it was $60... Sigh. --47.216.xx.xxx




Former Landlord Here (by 6x6 [TN]) Posted on: Apr 28, 2021 8:48 PM
Message:

There are so many unknowns. Every day is a guessing game of sorts. --73.120.xx.xxx



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