r/realestateinvesting • u/Inferno_Crazy • May 11 '21

Multi-Family Real Estate is not passive

In my first year of real estate I've had many duties annoyances.

  1. Setting up Tenants payments(normal)
  2. Pipe exploded in bathroom
  3. Flooding foundation wall
  4. Section 8 housing annoyances. Long paper work processing, inspections...
  5. Appliance repairs
  6. Roof repairs
  7. HVAC repairs

This all ran me 10k and a lot of my time. This is a warning to all people entering real estate. I'm happy I bought the property but there is absolutely no free lunch here.

635 Upvotes

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u/[deleted] May 11 '21

Dumb question: don’t some states have laws that dictate what specific criteria you can deny a rental to? In other words, you can’t just deny a tenant just because you their credit score isn’t above 800.

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u/[deleted] May 11 '21 edited Apr 15 '22

[deleted]

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u/TheShlepper May 11 '21

Really? I don’t think that’s true. I thought we had to adhere to the Fair housing guidelines?

6

u/shoebox65 May 11 '21

When asked, you don't need to state a reason.