Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.
Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.
For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.
You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?
