I had a request to do a video about why so many people think rentals are a bad investment. There are many reasons people talk bad about rental properties and most of it comes down to not knowing how to invest in them.
Why do so Many People Think Rentals are Bad?
6 years ago by investfourmore (70)
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Do you have any extra money to blow? I think it would be entertaining if you used like $5 or $10 grand to buy a hood home and rent it out. I bet it would make good content whether it worked or failed and if it worked you might be able to make a lot of money and help a lot of people.
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Yeah, I could do that. I guess it depends on where I would buy. The cheapest houses here are $150,000. I would have to go to a different state.
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Yeah buy an out of state hood home. lol That would normally probably be dumb to do but it might be worth it for the content.
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Big difference between opinion and advice. Anyone can tell you the bad stuff about investing in rental properties, not many can share a plan on having it be a successful business.
P.S. - Just got my license in FL, finally. Should have done it years ago but now that I'm liquidating some stuff it makes alot of sense.
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COngrats! Are you planning to do anything with the money?
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Oh yes, for sure. I have more opportunities than capital right now. Deals in SC and in MA I'm working on.
Finally building my business line of credit so that is a resource as well. You know how it is, once the W2 income goes away gotta find money privately or thru business. Trying to develop a network the way you have. :-)
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Nice, good luck with it all. Local banks can be a great resource as well
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I think it has to do (in part) from not realizing that a mortgage payment is divided between interest and principal. some people think that all the mortgage payment counts as an expense, when in reality it is only the interest payment what counts because the principal goes to become equity. Also, there is lack of patience with the value increase of the property.
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True, Although I try to make money with my rentals assuming that the payment is an expense. The equity pay down is a bonus to me.
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Very informative
I also checked out your blog. Seems you're a real estate tycoon.
I think rentals are a good way to make money. Unfortunately, I don't have the capital to start
Steem on
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Thank you, I would not call myself a tycoon, but I have done well
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Hehe
Humble you
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I think when you are doing something 'out of the norm' people are quick to dismiss you as they feel insecure about their own actions. Another thing with regards to property is people are always reading headlines and not digging deeper into property markets or having any respect for an investor's time frame or capital resources which makes a huge difference in their success.
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Very true on both accounts. Many people don't want others to succeed because it means they could have succeeded if they had only tried.
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Very informative video!
I think you have a point there about listening to the right people. It is important to listening to people that invest on their own advise. I am currently focused on the books, building my knowledge base still. Somebody mentioned to me that in 2009, he made more money than ever before because they could buy great units at wholesale prices. He retired after that...
Upvoted now.
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