Want_to_Retire: Good post and points. The math you give makes it seem like an great investment, business plan/model and source of income.
How would you be impacted if banks start to unleash REO’s and a new cable television show about people buying them and getting jobs as landlords and being successful at it, akin to the shows about buying storage units? All of a sudden many houses in your rental neighborhood become rentals?
Do you also have a long list of trusted, vetted, reliable and reasonably priced people in the trades? How long did it take you to come up with that list? Suppose the tenant calls and says someone threw a rock in the living room window and it needs to be replaced. Would you know of an honest glazier?
The math makes it all seem like peaches and ice cream. I’m not being sarcastic, but I wonder why more people aren’t getting into it, because it sure beats a regular wage job.
