Quote:
Originally Posted by Wormius
I wouldn't be opposed to owning 20 properties, but if they're so cheap, would anybody bother to rent?
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Lots of reasons, don't want to own, can't afford down payment, can't qualify, bad credit, etc. There's always renters.
And it's not always so cheap to buy, we're in a historically unusual market.
I'm in that general area of properties, and there's a TON to learn and know, and there are a ton of pitfalls and mistakes to be made. It's a lot of work and can be stressful sometimes, I'm not positive it's been worth it so far, and I purchased most of my properties before or during the big run-up, so they're all in pretty good shape.
Work with people that already do it, or join something like REIN for the basic info on how to operate.
Or buy out of city which forces you to get property managers and treat it more like a business.
If I had it all to do again, I'd be MUCH more focused on the quality of the property, while I don't mind arranging renos and repairs and stuff, and I know the amount I'm spending isn't unreasonable, but the stress of it I really don't like...
It's not for everyone, heck I'm not even sure it's for me
