WHY Im Selling my Rental Houses AFTER the Election!

I decided to sell my rental properties before the elections of 2020. Here is why I decided to take my gains and raise cash for the impeding real estate market decline.

If you are looking to buy or sell Real Estate in Florida email me! I am a Real Estate Agent!

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I am a Licensed Real Estate Associate with aDoor Real Estate in Pensacola, Fl - 401 E Chase St Suite100, Pensacola, Florida.

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[DanSanChannel]

This guy was one of the first people I subscribed to when I got on youtube for his kayak fishing videos. Amazing how the channel and the world has changed since then.

[redstripeblueboat]

Great move! My wife and sold all of our rentals the past 2 years, have no debt, no mortgage, and no stress!

[Kayakseas]

I had 8 rentals at one time and the best decision was to sell them off. I got tired of chasing monthly rents, renters trashing the property, and being demonized for just being a landlord. The supplemental income wasn't worth the stress.

[reelyakrz]

Really good information. We own a Short Term Rental on St George Island. The pros and cons as well as the economics of STR vs LTR are different, but some things are exactly the same. In early 2020, all STR was stopped with the stroke of a pen (the C virus thing). We still retained all of our expenses (mortgage, utilities, taxes, maintenance, etc) but suddenly had no revenue to offset those costs (similar to the can't evict situation). Unless it is a house which has been paid off for a while, the margin is smaller than most people think and many STRs operate in the red for awhile (frequently for years). Several STRs in the area tanked and the owners got foreclosed on. Fortunately for us, we were able to float until STRs were reopened. However, it is unnerving and irritating to realize that what you once thought was a fairly secure revenue stream can suddenly become a boat anchor tied around your neck because of politics - a single law or regulation can instantly turn your world upside down.

[jessetadlock]

Thanks Jack for being so honest In your videos! It's hard to believe that people won't just move away rather than destroying where they lived in pleasure for so long! I truly enjoy your content you post!!!

[toddgriffis]

The rental market here I south Texas is fantastic as are home sales, my wife has been in real estate for 20 years and she’s never seen it so good, we’ve been lucky that our tenants haven’t been affected by Covid for the most part. We contemplated selling a few of our rentals but decided to keep them to help supplement our retirement when that time comes

[lindioncicerao]

I've always said life is like a chess game. Strategy is the key element. Never do anything without thinking of all options. Sounds like you and sam have played the game, and have mastered it. God bless, and stay safe.

[scottyp]

Way to go you two! And, this topic was very informative and helpful to me . Thank you for sharing your experience and lives.

[willothewispl]

I have always been a good clean tenant. Would repair if I could. Make sure landlord knows if something is wrong. Greatly appreciate a good concerned landlord. Just became so sick and tired of being treated badly by landlord because previous tenant was really bad. Always wanted to paint and hang curtains. Things that make apt clean and livable. Never allowed to do anything to improve apt, and landlord would not even fix broken things that he covered up to get the property rented fast. Only had one or two decent landlords in many many years. Would call landlord and say hey can this be repaired before it gets worse. Landlords would go crazy if you ask them to make normal needed repairs. So there are many nasty unscrupulous landlords out there too. Always thanked God when i did get a decent landlord. Was a single mother and just because of that reason was treated very badly. Was brought up to be clean and to take care of everything I was responsible for. Just became so sick and tired of nasty landlords.

[massacmongo]

Unintended circumstances that's what happens when Government intrudes into the Economy . They don't understand when the Landlords don't want to let people live free . You do what you gotta do . You took the risk you DESERVE the REWARD

[curttimmbch]

Man, I love the willingness to openly discuss your thoughts and reasons, not to mention your personal financial situations. Super cool of you and super informative.

[vikings]

I got one rental and I’m selling. Tired of all the problems dealing with renters.

[jeremiahkelly]

I watched the market closely for a year before retiring and moving to this area and did not buy because of the uncertainty with everything going on. I bought in Ft Walton in 07 before the crash and kicked myself. I believe next year will be a better time to buy. Glad you shared your experience, thanks man! Hope the fishing gets better soon :-) Tight lines!

[mortatoneamplification]

I do hvac work for a big property investor with over 200 properties between Orlando and Daytona, most of them being in a 20 mile diameter. There's absolutely a huge benefit to grouping your real estate holdings like that. I'm just one vendor and can easily take care of all of their hvac needs and on the rare occasion when they do ask me to travel more than an hour for a small call it's a no brainer. The answer is yes every time. I realize you're not on that scale just yet but streamlining the vendors can help you get bigger, no doubt about it. Good luck and keep pluggin' along, brother.

[Jqbigrig]

Just finished "rich dad poor dad" based off your recommendation, thank you!! I'm still learning about money....thanks for the video and sharing your experiences!! 👊

[pjf]

When it comes to any type of sanitation, other than taking the garbage out to the can and the can to the street, you must NEVER rely on the tenant to do anything. No painting, woodworking, repairs of any kind.... You can use a property manager if you like paying for someone to collect the rent for you, but that isn't a good idea for the small investor... When I rented property, I would personally collect the rent at the 1st (or so) of the month while walking the interior and spraying for Collecting rent and spraying for insects was my way of getting into the property. The renter was made aware of this before signing anything as it was part of the contract..
If they balked, I called out "next"... LOL!. At the same time I am inspecting for cleanliness, water leaks, bugs, etc. and general abuse of the property.. I also sent my own people around to cut the grass, bushes, whatever.. My maintenance people also report back to me if they see anything unusual or needing attention.. Unless you like being taken advantage of by both the tenant and the prop. manager, I suggest you be your own 'p m' and save that commission for a good lawyer when you need And you will if you are not a tough guy... Renting property is not for the weak, timid, shy or lazy.... One last thing: I was a remodeling contractor and did all the work with my crew..

[Tater_salad]

Loving these types of videos, my wife is getting into real estate so I like to learn about this stuff

[b.radfishing]

I live in a hot market and it is hard to find properties to buy. My wife and I are waiting to see what happens in the election before we get a little more aggressive about purchasing a rental. I think right now there is a little too much risk. I really enjoy your videos. I’m a little less green in the gills - (fishing reference intended).
I’ve learned a ton... thanks, man!

[johnlogozzo]

I really think you took the wisest of choices. Hopefully after the election all this insanity will hopefully subside. You two got a double whammy. So soldier on! PS Keep keeping it real. Congrats on your wedded bliss!

[Soladaddy]

Isn't it odd that the gov't thinks letting people stiff the landlord is a good financial move for society? My wife is a commercial property manager and some of the tenants wanted a free pass on rent. Her paycheck comes from the rent so it's not just some mythical billionaire getting shafted when the rent is skipped. I agree with you on the future housing market. The next two years will see a foreclosure boom and the market has to drop.