I'm Going Back to Investing-Part 2

By the summer of 2006, I was thoroughly frustrated with this building. I had become emotionally attached not only to the investment, but to the tenants as well. It was normal for me to let the rent due date slip if the had issues, because I knew they would eventually pay up. In essence, I became less of a landlord and more of a caretaker.

I put the property up for sale that summer knowing full well that it was probable that I would lose some money after all expenses. Well my hunches were right. Most offers came in about 30K or so under the list price.

Since I was not really not desperate, I decided to wait it out. By Christmas time of that year, I realized that the offers were pretty much going to be around the same range so I waited until the listing ran out and took a step back and put my investor hat on again. It had been sometime since I had worn that hat and it became clear that I had to take myself out of the equation.

I contacted several property managers and finally decided on one agency who had several buildings under management near my property. As I walked out of the property manager's office I felt like a burden had been taken off of me. No longer did I have to worry about collecting rents or getting the late-night call from a tenant.

I could once again concentrate on investing.