I started in rental properties in the seventies, renting nice apartments to good solid working class tenants who on the whole, behaved themselves, kept their homes clean and paid their rent on time. Sure there were a few rotten apples but mainly good tenants.
Then they shut down the factories and sent all the good union jobs overseas. Meanwhile it became easier to get a mortgage and buy a house. The best tenants bought houses , and I ended up with a smaller pool of good tenants and a lot more bad ones.
So I sold the apartments and bought single family houses, figuring to reduce my profits but get a less troublesome class of tenants. Didn't work. After a few bad experiences, sold all but one rental house (which has a good tenant in it).
The trouble is I can't find any other investment as safe, that pays as well as rental properties. Now I am thinking of buying a few houses but am scared I am letting myself in for a never ending nightmare.
So, landlords tell me. Can you still find good tenants? How do you do it? Or has the country deteriorated to the point where they hardly exist anymore?