[quote=FlyerInHi][quote=flu] I care more about finding more rental properties these days to generate more passive income than I care about being a better engineer/architect/lead (whatever fancy title an employer gives me). Show me the money, and that’s all that matters. You know, in case my kid can get in and does want to go and it’s a right fit. And if my kid doesn’t get in and doesn’t want to go, more money leftover for me and my kid. Either way.[/quote]
Just slowly build a portfolio of properties that generate cash. It’s a skill that is less stressful than working/dealing with people day in an day out.
People are emotional/irrational. Rental properties are not.[/quote]
I admire you if you can be a successful “buy and hold” investor, FIH. To me, having tenants (whether temporary or on a lease) is a big PITA. Forget “irrational” or “emotional.” A deadbeat tenant can totally wreck your property and leave you with their (frequently inadequate) damage deposit with which to clean it up for the next tenant. And GOOD LUCK on collecting on any small-claim judgments you have against them!
I absolutely HATED dealing with tenants, listening to their “why I can’t pay rent on time this month” sob stories and taking their calls/complaints for minor problems around the property. More power to you if you don’t mind this. I think being a managing LL (even of ONE residential unit/property) is stressful. Lousy, destructive tenants exist at all rental price points out there.
