I'd be #29 at UPS

[CFI A&P]

I'm interested in being a "hard money lender" for flippers. Looking into that and it seems interesting.

I know several people in this arena, and they’re all doing great with it. One of them started doing it in retirement and is now more comfortable than when they were working. Just like anything else, it comes with a degree of risk though.

 

[Cherokee_Cruiser]

Sounds like a complete pain in the butt to deal with. I’d rather cash out of the whole thing and be done with the entire headache, would seem more worth to me than having to deal with any kind of pain in the ass like this. What little money made in rent, doesn’t seem worth the squeeze of dealing with crap. Especially as it’s on the other side of the continent.

True. So far it’s been working out. It’s paid off so the only concerns are prop taxes and HOA. It makes money - so as long as she pays rent lol.

 

[CFI A&P]

I’m aware of some folks that operate their apartments as licensed hotels to avoid deadbeat friendly courts.

In my state that gets more complicated due to laws requiring collection of sales tax on short term rentals, whereas a year long residential lease is tax free.

 

[Pilot Fighter]

Umm. Not paying rent breaks your lease agreement.

One issue is filing a complaint with the housing authority buys some time and delays. The courts wait for a report from the housing authority if there’s an open case. Before you know it, it’s been 90 days and you haven’t faced a judge.

 

[Pilot Fighter]

In my state that gets more complicated due to laws requiring collection of sales tax on short term rentals, whereas a year long residential lease is tax free.

In TN, hotel taxes drop after 30 continuous days. However, there is no right to a room. Or, beyond your booking, you pay the published full fare which could be 5 times the normal room rate. If you see a crazy published room rate you might think that it’s a Super Bowl rate. Nope, it’s the deadbeat rate.

 

[mikecweb]

I have resorted to semi-draconian measures.

I only do 6 month leases that go to month-to-month after six months. If rent is late twice in the first six months, it goes to month-to-month earlier. I’ve told crappy tenants that they won’t have month-to-month option after 6 months. This addresses the courts respecting a longer lease term even when they aren’t paying.

I have a financial deposit of 1.5x rent and security deposit of 1x rent. I also do a monthly inspection. The last item has caused the most pushback with potential renters walking away but I don’t care. A three minute inspection is not crazy.

Also, all correspondence is by both FedEx and email. I prepare for court from the beginning.

Thank you for the business.

 

[Pilot Fighter]

Thank you for the business.

I only have three properties, so it’s not really that hard to be picky. Financially responsible folks aren’t afraid of policies that demand financial responsibility. As far as my inspections, other landlords inspect their properties, they are just dishonest about it, acting like they are doing maintenance. I’m honest.

In practice, folks understand that they are enjoying a lower rent because I’m not forcing them to subsidize deadbeats and cover vacant months. I have multi-year tenants in two properties and don’t inspect those. They proved themselves after six months. I’d give those two folks a longer lease if they asked for it.

If a tenant is late twice in the first six months, I don’t want them as tenants. At best, that’s 33%. I don’t want to beg for rent, I don’t want to be a party to the eviction process.

If you want to be the best landlord, find the best tenants.

I have a buddy that owns 12 townhouses. Every time I see him I hear horrible tenant stories. At any given time, he has one or two vacant units and one tenant that is two months late with rent.

 

[Springer]

I'm interested in being a "hard money lender" for flippers. Looking into that and it seems interesting.

Did it for about 10 years through a mortgage broker friend and title company. Short term side loans ($40K- $50K) for independent builders, remodelers, etc. 13%-15% interest. Easy money with people I trusted. It's great until there is a recession (think 2008-09) and you are left holding the bag.

 

[///AMG]

Funny thing is, I’ll get a call for premium flying and the idea of going to the airport sounds repulsive.

And I really really like my job. A lot.

I've been getting those quite a bit recently, I guess probably JA callouts or something. For me, getting to the airport is a bit of an ordeal, to the point where 200% still sounds "ew". In theory, I'd like to do them......I'm sure I would if I lived 10-20 mins from the mothership. They also seem to always call at "beer o clock"

 

[Roger Roger]

I've been getting those quite a bit recently, I guess probably JA callouts or something. For me, getting to the airport is a bit of an ordeal, to the point where 200% still sounds "ew". In theory, I'd like to do them......I'm sure I would if I lived 10-20 mins from the mothership. They also seem to always call at "beer o clock"

Works real great at a base where 82% of pilots commute!
But not to worry, we’re still offering VRBOs?
I’ve taken to calling it “schrodingers staffing”

 

[///AMG]

Works real great at a base where 82% of pilots commute!
But not to worry, we’re still offering VRBOs?
I’ve taken to calling it “schrodingers staffing”

Good news for the senior folk who live in Gig Harbor, Des Moines........and you know there is some poor dude in Spokane jumping through his ass to make the volunteer report. Probably lives in his car in the employee lot, with CA pulled up on his phone 24/7. I really don't understand that culture. I get hustling for a purpose, but it just becomes a lifestyle eventually.

 

[Pilot Fighter]

Good news for the senior folk who live in Gig Harbor, Des Moines........and you know there is some poor dude in Spokane jumping through his ass to make the volunteer report. Probably lives in his car in the employee lot, with CA pulled up on his phone 24/7. I really don't understand that culture. I get hustling for a purpose, but it just becomes a lifestyle eventually.

Don’t hate the playah, hate the game.

 

[ChasenSFO]

I'll be lucky to make it to 65 considering 2 liter Mtn Dew and Zebra Cakes were my natural diet for a decade, don't have any kind of normal eating or sleeping routines, and I've gained and lost 80-120lbs 3 times, and never got some internal infections taken care of. I'll probably be one of those guys dropping dead on the controls, at least, I hope so.

Retirement? Lol. Just a day at a time.

Here for a good time not a long time. I'm very healthy and active now all things considered, but the damage is done. As long as I get there at all, we good.

 

[///AMG]

Don’t hate the playah, hate the game.

Oh believe me, I'm glad there are people who want that. The thing I like about 121 life is that you can basically choose your own adventure (within the constraints of seniority and fleet/system structure). There are some commonalities in any line where I work (since it is single type, mostly domestic), but you can choose a flavor for sure. We didn't have that in the mil world. It was just whatever it happened to be, in cycles, and it varied from awesome to super sucky, in no particular rhyme or reason. And you got your schedule at 5-9 pm the night before. Can't plan beyond a day out really, other than approved leave. Obviously as you got more senior, you had the ability to influence your schedule to some extent, but that isn't codified or a guarantee by any means. And once again, my life is at the whim of an LT with a keyboard, every afternoon, for the next couple-three months

 

[Pilot Fighter]

And once again, my life is at the whim of an LT with a keyboard, every afternoon, for the next couple-three months

SchedsO, a thankless job but they often drink for free.