People generally view landlords as making easy money without providing value. I like easy money, so I started planning on buying a house and I read a bunch of landlord forums. And after seeing what landlords were saying... then I wasn't so sure. It almost seemed not worth it.
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People struggling and stressed - resentment and genuine pain - seeing the money leave their accounts - who does it go to
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That’s why people are hating on landlords
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It’s not thought through. Just pain
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Another part is just the initial cost of getting it ready for having tenants. Its like, there is a lot of stuff you don't notice about a house that other people do and you end up fixing all of it. I came out behind at the end of a year because of a plumbing issue.
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It's possible that landlord forums filter for stressed landlords who have lots of problems. I don't expect many happy landords logging in just for fun. That said, what you're describing certainly lets you know what "bad" might look like.
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Only make money as a landlord if you do it at scale with multiple properties. If just one, best case is it pays your mortgage.
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Basic economic theory says that being a landlord can’t be “easy money”. If it were, all investment capital would flow to rental properties and would decrease rents/profits until it were no longer a better investment than anything else
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Being a landlord literally ruined my life. It cost me 2 relationships due to the underlying financial stress exacerbating every other issue. If I had not been ignorant about the law (unlucky) I would have been rich by now. Short about $30.000 from rent, damages. Just got sued.
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Just got sued recently for $70.000 by a this nightmarish psycho tenant, and no public authority or legal help can do anything about it. This despite the people being repeat offenders, scammers and known country-wide to be notoriously horrible people. So yeah, not all sunshine.
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And landlords make income through rent. Then you have
@AOC out there who wants to include in the Coronavirus Relief Bill that tenants should be exempt from paying rent until the dust settles.Thanks. Twitter will use this to make your timeline better. UndoUndo
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