We lost a max of $3k in a small plan we had. With things going like they were we didn't stay in, got out about 8 or 9 years ago and lost nothing. We were made fun of by many, now their portfolios are about back to day 1 or they lost so much they are going to have to work years more. Not old safe and careful us.
We are adding a rent house now, been working our tails off on it, but we are hiring others to help too. Hubby rewired it with our teant while home and put in new kitchen cabinets. All the light fixtures were gone! I had it redecked and reroofed, and new doors put in. My carpenter guy will be putting in new windows, some woodwork, fixing a few drywall places, hubby already fixed several. I'm replacing all the places hubby had to saw out of the drywall and taping and bedding them, quite a chore. We got a good deal, a mess of a house in a decent neighborhood so it will rent well. 3 bedrooms, 2 bath, 2 car garage but small, 1206 sq foot. Only 2 houses away from the elementary school.
That will make us 5 renters. We also had 2 townhouses, but I saw the looming housing crash, it had to happen, people stretched to thin, for places they couldn't afford so I sold those. To many bills. They are the first to lose value anyway and I don't want anymore townhouses. We maintain, while others don't. We hope to add more rentals, we fix them up so we wouldn't mind to live there. We add some nice features and make them durable. That way I don't have a lot of repairs when he is gone. On this one, we repaired a cute little backyard light. Fixed a light outside of the garage. There was one wood wall so we added some very nice scounces and replaced an old non working dimmer switch, pretty light fixtures made a house. I am either putting up the new faux wood blinds or maybe some type of roll up. The new windows are tinted, dual pane, and low E. We figure if the house is energy efficient, they can afford the light bill. New central AC too. I've had 1 eviction in about 15 years, we do all the screening up front thoroughly. I will get burned again someday its ineveitable. So this will be a supplement to our income. We would like to have 10 but doubt we make that, so whatever we end up with will be fine.
Hubby is worried about being bored in his old age and wanting to work till age 70. I want him to quit at 66, but the lure of the good bucks overseas is a siren song and hard to resist. Knowing him, he will find enough to do to keep busy. I think our retirement will be good even though we have no pensions. Our big concern, is not getting sick and having to pay out of pocket for health insurance till we qualify for medicare. That's 2 more years, I am 63, he will be in August.
So far its looking good.
