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No, just unconventional rentals..

Posted by Ward-CA- on July 02, 2003 at 8:47 AM

In Reply to: Are Dingbats Condos? posted by Mike on July 01, 2003 at 7:47 PM

: What is the legal name for the Dingbats in Ward's retirement article? I searched for 1 bed, 1 bath places and all I get are condos.

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Mike,

According to the most current Roget's Thesaurus, here's their understanding of what a Dingbat is:

NOUN: Slang. A person regarded as strange, eccentric, or crazy: crackpot, crazy, eccentric, lunatic. Informal : crank, loon, loony. Slang : cuckoo, ding-a-ling, kook, nut, screwball, weirdie, weirdo.

And I characterize my group of old, 1 bedroom/1 bath single family houses as unconventional, and thus DINGBATS!!

We've got sixteen of them now. And it's very rare (averages about every 12 years) that we ever have a vacancy. Probably will top off at 20 of them.

Just had one go vacant and rented it out (Section 8) for $1,095 per month. That's amazing when you figure that all I paid for it originally was about $35,000. Yes, it's been in my portfolio for maybe 15 years. But still, $1,095 per month, WOW!!




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