The house next door - Posted by Kevin

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The house next door - Posted by Kevin

Posted by Kevin on June 09, 2004 at 17:54:37:

Just looking for some info. There is a house next door to my primary residence that might be a good investment property. Has any one had any experience with owning investment property that close to where they live(either good or bad). Wondering if being that close to the landlord puts prospective tenants off? Thanks for all the input.


Re: The house next door - Posted by kwack

Posted by kwack on June 10, 2004 at 09:47:16:

I’ve had tenants living next door to me for the last 12 years. I originally purchased a tri-plex where I occupied one of the units. I then bought the tri-plex next door and the duplex 2 doors down.

It has worked out very well. It is a nice neighborhood and I always got nice tenants. I think them knowing that I was right next door helped to self screen some of the potential problem tenants. You can’t get away with loud parties etc. when the landlord is the one ready to call the police

Re: The house next door - Posted by Bryan (NC)

Posted by Bryan (NC) on June 09, 2004 at 21:40:24:

The last time I rented a house, the landlord lived 2 houses down. It turned out to be great! He loaned us all the lawn tools we needed, came right over to help fix the broken trash disposal, and was constantly treating me to fresh peppers and tomatoes right out of his garden! We took turns taking care of each others’ lawns (which was great because I hate mowing grass). He’s a 70-something retired policeman and had a bunch of funny stories about his police encounters and the constant trips he was taking to Atlantic City and Vegas. I also figure he could be a great funding source for a deal or two.

When I was growing up, my family lived right next door to one of my Dad’s rentals and right around the corner from another. Always seemed to have better tenants than the rest of the rentals in the neighborhood (although now even the quality of my Dad’s tenants has gone downhill big time along with the entire town).

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