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The 3 year burnout period

September 25, 2011

I have heard about the wall many landlords hit at around 3 years. Well, we just made it past the 3 year mark. No burnout for us. We have had a few tough months, but so far we are holding the course. I am not sure who drew the line in the sand at 3 years, but I could see it happening if you don’t have a passion for landlording and dealing with people.

We are managing our own properties so I anticipate hitting full capacity at some point as we are both working full time day jobs. We are currently at 6 properties, so we will need to see how things change when we get to 10-12 properties. Using a management company is our fall back plan, but ideally we plan to continue to manage everything ourselves.

This is certainly a marathon and I think if you have that mentality you will keep cruising with no problems. We always try to find ways to make our lives easier. As we meet more and more contractors and handymen we have found what used to be a major issue is now getting easier. We also continue to find other ways to manage our rentals more effectively. Getting tenants set up on autopay or to deposit the rent directly in our checking accounts has been a real dream.

Having your husband, wife, business partner, mentor or in my case fiancé share the work, heartache and frustrations really helps. We each have different strengths and really help each other when needed. It’s just nice to bounce something off someone to make sure your decision is sound or to get a different perspective.

From → Planning

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