[quote=SD Realtor]I know many people who pretty much live off of passive income from rentals. It is a slow path but slow and steady has been good to them.
I believe the common misconception that many people make is that it is a quick path to wealth and that it is effortless. Neither of these axioms is true. If DONE CORRECTLY it becomes a method to generate income. It does require time, attention and work. Sometimes it is easy and sometimes it is not.
However, you are your own boss… nobody can fire you and you cannot get laid off. It provides a nice protection against inflation and currency fluctuations. If you are in it for the long haul then even if the asset price depreciates, the income flow will not depreciation nearly as much.[/quote]
Cool. Thanks.
I understand the risk as there is always risk for reward, but I feel there is a manageable aspect to it as long as your not counting on appreciation. I would’nt mind making a little every month, but I’m mostly counting on the cash flow to pay for any repairs, vacancy, etc. and in 10,15, 20 years I’ll have more and more passive income and work a little less.
