Quote:
Originally Posted by dreamingat30fps
I was in the landlord business for probably less than a year back around 2011. I had a condo I was upside down on thanks to 2008. We had no desire to stay there more than a couple of years and we had already been there like 5+ and the area went to shit with the 2008 crash, several places turned into like low income housing. Anyways we needed to GTFO.
Anyways bought our current home and attempted to rent the condo. Never again. What a pita!
I have also looked into rentals as potential income stream but as a layman who doesn't know anything about that business. The returns just seem like crap. If I had a $500k property I would have to rent it out for over $4k/mo to get 10% on my money and that's assuming no mortgage and not counting expenses, taxes etc. PLUS my time and hassle otherwise I would need a property manager which would eat into the revenue even more. My robo stock investments have done better than 10% on average since like 2016 and I don't do shit. Of course that's a way oversimplified example, but still with my limited hands on experience of the hassles of landlording... I would need waaaaay more than a 10% return to make it worthwhile.
Obviously there's people who make a lot of money on real estate but doesn't seem all that great for an average person. At least not for me and not at this time.
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Yeah I don’t do squat and I made 300 percent return on stocks lol.