/biz/ - Business & Finance

I own 3 houses. All paid for cash. One is vacant. One has a tenant and a collapsed sewer pipe under a slab ($20k repair). One has a dementia addled old woman in it who has destroyed it.
I fucking hate being a landlord. If I had plowed all of this money into oil and gas stocks I would be a fucking millionaire instead of owning about $700k of c class properties. Being a slum lord sucks.
The only upside is I have no debt. Course a mortgage is really but a put option to the bank so maybe I am the retard after all.

So I just spent $1800 on a new water heater for a rental property. Monthly rent is $1200. Yield is 4% after repair.

While he was there the Fucking plumber also cleaned out the shower drain and roto rootered the sewer line as tenant asked me to and they are white and pay their rent on time. That’s $375. Now he thinks the sewer line may be compressed as likely 75 year old sewer pipe is past lifespan.

It’s a 1950s mid modern century house sitting on a slab. So sewer lines are under the slab. He is going to send a camera down to see what is going on. The slab has settled. This I know. Quite a bit actually. Like 4 inches from 1950s.

Fuck frens. If I need to replace the sewer line I will have to destroy the bathrooms, floors, slab and then take a new sewer line like 100 feet to the main and then replace slab, floors and bathrooms and fuck while I am down there replace the galvanized water pipes and reno the bathrooms.
.
My property manager wants to let it be and just plan on roto rootering once a year but that’s just delaying the inevitable.

I bought the place intending to gut and restore one day but fuck me thought that day would be 5 years from now.

I have the coin to do it but was going to buy a new Porsche this year.

What do?