[quote=CA renter]. . . As for becoming investors/landlords…my family did this for decades (both had their broker’s license, and my mom was invoved with both residential and industrial RE, so they had more knowledge/experience/tools than most). Lots of money can be made, but even more can be lost. It is not for people who are looking for “passive” income. There is so much that can go wrong with rentals, and there is a lot of competition right now for the good properties, which means there’s a high probability for new landlords to overpay if they outbid the guys who know what they’re doing.[/quote]
So true, CAR, people just don’t realize how much WORK having tenants can be, whether you own 1-4 units or have to “manage” a resident manager. It’s definitely not a “passive income.”
I can see where a new crop of self-professed “flippers” could come in today and up-bid a property on the courthouse steps in order to obtain the trustee’s deed. If they can’t sell it for a profit and have to put it into rental service, often they don’t realize the vagaries of the particular rental market they have just unwittingly bought into.
