Quote:
Originally Posted by The Ditch
I feel really bad for these people with extra properties to rent out, won't someone think of and stand up for those with multiple properties and extra space above and beyond what they need? What has this world come to.
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My favorite part about this whole arguement is:
- If I up the rent to what the market will yield (and thereby make a grand or so a year), I'm the scum of the earth.
- If the market tanks and I lose my shirt on the deal, I'm a sh***y businessman who got what he deserved.
So I put a quarter million on the line, put in the monthly effort to manage/maintain the unit, and after all the expenses and taxes are paid, I break even on the year.
Of course I get to enjoy the skyrocketing appreciation of the property....oh wait, gotta pay tax on that as well.
This isn't a get rich quick scheme, nor is it a public service.