Rental Nearly Done!

You guys are probably tired of reading about my rental unit. It's nearly done, and tomorrow the tenant should sign the paperwork and I should be about all done with the work on it by this weekend.

I've had enough construction work for one year, I'm ready to sit on my rear and do computer work again for a while. It was a fun challenge, and I'm totally excited to do more, but right now I'm pretty tired and I'm ready to start my new business and make some money.

I think it is the easiest business I've ever tried to do. I mean construction work is really easy compared to fixing cars in my opinion. Brain wise any way. Physically its a little more demanding, but nothing compared to bodybuilding. Its more of an emotional endurance factor. If you can withstand the daily grind of fixing a place up, expect that things will cost twice as much as you anticipated, and the odds and ends will keep you frustrated for a while, and of course there will be crappy tenants from time to time... then this is the coolest business I've ever seen. Its like monopoly pretty much, except there is no way to lose if you are smart and follow the basics. My mentor handed me a sweet deal, and I am forever thankful for all his help, but its been quite a bit of work.

I really think this is going to be a great business though. I mean how else can you make 250 dollars a month profit for the rest of your life, provided you maintain the place? How else can you build equity with someone else's money? How else can you make money while your sleeping? How else can you turn 15k into a 30-35k value in under 3 months? Even if I just sold the place right now for 30k quickly... I'd make a solid 15k profit for my 2.5 months of work. But I want to hold it for a long time and then sell it when I'm ready to get out of the rental business.

I think I was born to do this business. I mean I'm mechanically a genius (according to my military aptitude tests) and can fix about anything. I like working hard. I don't mind dealing with people. After this one is all done, I'm wishing I'd have been doing this a long time ago. I wanted to be a landlord when I was in my twenties but I never got around to it. At least I'm doing it now though.

What gets me is all the horror stories everyone tells you about. They don't mention the passive income, the positive cash flow, the toys they bought that someone else paid for, but they talk about how one bad tenant ruined this or that, didn't pay them, etc. I guess people only remember the horror stories and don't really focus on the benefits. I know I'll have some disasters to deal with at some point, but I don't care what it is, anything is better than worrying about money problems. Anyhow, so far so good. I'm going to open my new business next week. I know its going to do well, today I sold a web site so easily it wasn't even funny. People need stuff, you just have to provide it for them and do good work and you'll do great.