[quote=spdrun]I prefer to see all boats sinking, other than mine. If their life vests come loose, more life vests for me to rent out.
Here’s my goal. Buy more property. Hopefully cheaply. Get an income equal to 2x prevailing min wage from property rentals. Kick back. Live inexpensively. Laugh at all the rubes who are still breaking their backs doing actual work.
That’s the extent of my ambition in life. Not to do good. Not to build a career. Just to live with the minimum of interference from other humans as possible.[/quote]
I’ve helped people who have done exactly this, but no longer possibe around here. Their goal was cash flow.
It made no sense to them to hang on to inflated So Cal real estate with low cap rates and the belief that it will go up forever SO they went elsewhere and created monthly income with triple the cap rate around here.
It still makes no sense to me to collect $3K+/- monthly rent on a $500K-$800K house, regardless of equity position.
