I manage several properties that I rent out annually.
There are three houses in total and two condominiums, all in the same general price range and mostly in the same area.
It all started with one single house that I decided to flip after buying it cheap on an auction cash sale. Miraculously enough, everything fell together perfectly and the remodelling and renovations made the house look fantastic. About two years later I bought another in the same circumstances and slowly accrued the final three properties from there. Each time I found something cheap with cash and then spent the time repairing and remodelling the units myself. But, I have been at this for two decades now and I’m starting to get old. My back isn’t as great and my knees are weak from years of kneeling while working. Since I live in the south where the climate is hotter year round, I have to reckon with constant air conditioner problems each year. Unfortunately, not all tenants have the same comfort preferences indoors, nor do they all treat the thermostat with as much respect as others might. This means that I am always paying for maintenance, repairs, and part replacements. I finally decided to start installing ductless mini split air conditioners in all of my properties. Somewhere I read that often you run into less HVAC maintenance and service because the mini splits are used less frequently when you have the choice to have one running on one side of the house while the others further away are off. This means you only run the air conditioner in the parts of the house you’re occupying for any given period of time. I’m hoping this will cut back on my heating and cooling expenses.