Rental income is passive if you're smart and actually vet your potential renters. If you're looking to get the first person in your door, you're setting yourself up for failure.
the amount of landlord cope ive seen recently where these rich out of touch mfs pretend that renting out a property and having a property manager deal with it is somehow comparable to a real job is insane
Rentals can be a headache. I had relatively few problems compared to most owners BUT It wasn’t a walk in the park. If you’re young it can be much harder. If you only have on rental then it can be ten times harder. If you own apartments then be certain they are all in one complex AND that you have a minimum of 60 units. No one can afford a duplex.
OK, well, technically it’s not passive, but I still make about $1000 an hour when you factor in how much time I put into it. That’s passive enough for me.
I own a lot of Residential and Commercial Real Estate most renters are good you have a few headaches but for the most part I got some very good renters people who have been with me for 10+ years I’ll tell you being a landlord is not easy people think it takes very little work not true
Idk how these American IRAs work, can he not pay off the 60k with the 300,000k IRA? Surely that makes the most sense and you can still rent it out for the inclome, but renting it for the purpose of paying the mortgage seems unnecessarily restrictive
Can someone explain to me why it's not passive income, genuinely curious. I would have assumed paying a property manager, lawyer, and accountant is all you need and with those coming out of the profits (especially if you own the property outright) I would assume that there isn't much else that you need to do actively.
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Dude just pay off the house immediately. You can still rent it out after that
Rental income is passive if you're smart and actually vet your potential renters. If you're looking to get the first person in your door, you're setting yourself up for failure.
I have had renters in my apartment for 12 years., and I have literally done nothing.
the amount of landlord cope ive seen recently where these rich out of touch mfs pretend that renting out a property and having a property manager deal with it is somehow comparable to a real job is insane
Rentals can be a headache. I had relatively few problems compared to most owners
BUT
It wasn’t a walk in the park.
If you’re young it can be much harder. If you only have on rental then it can be ten times harder.
If you own apartments then be certain they are all in one complex AND
that you have a minimum of 60 units. No one can afford a duplex.
This guy dumb rhat man has the perfect idea no reason to call
OK, well, technically it’s not passive, but I still make about $1000 an hour when you factor in how much time I put into it. That’s passive enough for me.
I own a lot of Residential and Commercial Real Estate most renters are good you have a few headaches but for the most part I got some very good renters people who have been with me for 10+ years I’ll tell you being a landlord is not easy people think it takes very little work not true
Invest the money 💰
As a renter I agree, there's nothing passive about it. Dealing with some properties is quite easy, but usually it takes a lot of time and efford.
its not that hard to rent though. just gotta be on top of things.
If you get an actual property manager it will be almost 0 commitment
Watching digital farming as they digitally farm us.
What I would do, is take equity release in the house and use that to pay it off. Rent it for 10 years or so, then sell.
This guy 😂 rent that house out dude
Idk how these American IRAs work, can he not pay off the 60k with the 300,000k IRA? Surely that makes the most sense and you can still rent it out for the inclome, but renting it for the purpose of paying the mortgage seems unnecessarily restrictive
Damn man:/
Can someone explain to me why it's not passive income, genuinely curious. I would have assumed paying a property manager, lawyer, and accountant is all you need and with those coming out of the profits (especially if you own the property outright) I would assume that there isn't much else that you need to do actively.
He is right